What's up, my crypto people! 🥳 Get ready because Popcat (POPCAT), the memecoin that has everyone talking, is showing signs of life and good ones! After a drop from $0.41 to $0.29, Popcat stood firm and defended $0.30 like a champ! 😼 And not only that! It has been rising like crazy, with a 9.08% gain in the last 24 hours!
Currently, POPCAT is trading at $0.339 and, interestingly, its trading volume skyrocketed by 55%, reaching $45.39 million. 📈 Do you know what that means? It means people are buying like crazy! It's as if everyone agreed to say: 'Popcat, let's go up!'
The numbers don't lie, folks. Popcat buyers have put in over 8 million tokens in the last 24 hours. It's a buying wave that is leaving sellers stranded! Things are so hot that the memecoin's Delta is at 700,000 positive tokens. Pure adrenaline!
Why is There So Much Euphoria with Popcat? 🤔
Besides the massive buying, there are a couple of signals that have us dancing with excitement:
Derivatives Market On Fire: In the futures market, Popcat's open interest rose by 6.69%, reaching $135.69 million. This means that a lot of investors are positioning themselves, betting both on the rise and the fall, but with a clear inclination towards growth.
Positive Financing Rate: Popcat's financing rate (FR) has remained positive for four consecutive days. What does that mean? It means the overall sentiment in the futures market is super optimistic! People expect the price to keep rising. Additionally, the long/short ratio tells us that 'long' positions (those betting on the rise) dominate with 68.1% against 31% of 'shorts' (those betting on the decline). A clear victory for the optimists!
Bullish Cross in the Indicators: Technical analyses are not lagging behind. The stochastic RSI and Popcat's RSI showed a bullish cross in the last 24 hours. This is like a signal that momentum is gaining strength and that the token could start closing at higher highs. Buyer demand is at full throttle!
What to Expect from Popcat Now? 🚀
If this bullish wave continues, Popcat could soon be touching the resistance of $0.3712. That would be a giant step! Of course, we cannot rule out that after two days of gains, some may want to take their profits and sell, which could cause the price to drop a bit. But for now, things look promising. So let's stay very attentive to this memecoin that has us all wide-eyed! 👀
