Memecoin Popcat (POPCAT) Looks Incredibly Bullish After Taking Out Its Last True Resistance at $1, Says Altcoin Sherpa
- Patricia ArquetteOriginal
- 2024-10-07 09:00:151012browse
Pseudonymous crypto trader Altcoin Sherpa tells his 223,600 followers on the social media platform X that memecoin Popcat (POPCAT) looks incredibly bullish after taking out its last true resistance at $1.
A crypto analyst with a large following on social media is predicting that one meme asset, which has already seen a 300x surge in less than a year, is poised for another major rally.
The pseudonymous crypto trader, known as Altcoin Sherpa, shared his thoughts on memecoin Popcat (POPCAT) with his 223,600 followers on the social media platform X.
According to the trader, POPCAT appears to be displaying strong bullish momentum after breaking through its last significant resistance at $1.
Based on his analysis, Altcoin Sherpa anticipates that POPCAT could rally by over 60% from its current levels.
“Once a coin breaks out of the range, you want to see continuation. Of course, this is going to depend on BTC, but I think that POPCAT still looks strong.
Wouldn’t be surprised to see it go to like $2 or something to be honest.”
At the time of writing, POPCAT is trading at $1.23, having risen by over 7% during the last 24 hours.
For context, the meme asset was valued at $0.00379 on January 5th, indicating gains of more than 324x.
Moving on to the top crypto asset by market capitalization, Altcoin Sherpa shared his thoughts on Bitcoin (BTC), expressing his belief that the apex crypto is likely to “bounce hard” soon and that it appears to be forming a local bottom.
“We’re so back. For what it’s worth, I do think BTC is going to bounce hard on one of these soon. I think a bottom is forming.”
At the time of writing, Bitcoin is trading at $62,131, having shown a fractional increase over the last 24 hours.
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