Solana Memecoins: POPCAT, MEW, GOAT Technical Analysis
- Barbara StreisandOriginal
- 2024-10-24 06:28:22251browse
Consequently, 3 of the top 5 ranked Solana memes, POPCAT, Cat in a Dogs World (MEW) and Goatseus Maximus (GOAT), all launched in 2024 have managed to maintain a profitable status despite the market wide downtrend.
This market performance charts reveals two key insights. First, the Solana memecoin sector has outperformed the broader crypto market average, which has seen over 5.5% losses in the last 3 days.
Second, Dogwifhat (WIF) and BONK, the two largest Solana memes each saw over $100 million wiped off their market cap, with 5.1% and 7.7% losses, respectively, within the weekly timeframe. However, crypto traders continue to allocate massive capital toward newly-launched meme tokens on the SOL blockchain.
Solana Memecoins: POPCAT, MEW, GOAT Technical Analysis
Interestingly, 3 of the top 5 ranked Solana memes, POPCAT, Cat in a Dogs World (MEW) and Goatseus Maximus (GOAT), all launched in 2024, managed to secure a spot among the top 5 Solana memes despite the overall market downtrend.
When such positive divergent trend emerges in the market, it tends to attract more capital inflows, especially from strategic traders who are on the lookout for profitable opportunities during the market dip.
Below, technical analysis indicators help identify the main bullish catalysts driving the 3 memes as well as the key resistance and support levels to watch in the days ahead.
POPCAT Price Forecast: Weakhands Wash Out Could Trigger $2 Breakout
POPCAT, launched in mid-2024, has been a standout token on the Solana network, garnering attention even during the current market dip.
Over the past week, POPCAT has shown remarkable strength, posting 10.9% gains, as it bounced back quickly after a brief dip to maintain its upward trajectory.
At the time of writing on Oct. 23, POPCAT is trading at around $1.41, slightly down from its recent high of $1.4875, as shown in the POPCATUSD daily chart below.
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