What's up, my people! 🔥 Get ready because the situation with Popcat got heated, and I mean really heated! This memecoin, which many thought was dead or somewhat asleep, just made a 16% jump in the last 24 hours and reached $0.3403, a high we haven't seen in three weeks! Can you imagine?

But it doesn't stop there, the trading volume of Popcat skyrocketed, up 113%, reaching an impressive $84.7 million. This means that people are going crazy buying and selling, the activity on the chain is on fire! 📈

Now, the million-dollar question, the one that keeps us awake at night: what is behind this tremendous surge? Do investors really believe in Popcat or is it just a rebound that gives us a little hope?

Popcat Whales are Shopping! 🐳🤑

That's right, folks! While the crypto market was somewhat recovering, the Popcat whales (you know, those investors with wallets full of zeros) jumped in to buy more and more. According to what Nansen told us, these big fish increased their holdings by 14.28%, reaching the impressive figure of $634.39 million. It's crazy!

On July 10, these guys dug into their wallets and bought 8.5 million tokens, bringing their total reserve to a staggering 64.74% of the total. What does this mean, my people? Well, if the whales are accumulating like this, it’s because they have blind faith that Popcat will continue to rise like foam. They see a golden opportunity to buy cheap now and make money later! 💰

The Derivatives Also Smell Profits! 🚀💸

And to add more spice to this stew, it seems that not only the whales are moving the needle. The open interest (OI) of Popcat rose by 19.3%, reaching $172.9 million, and the volume of derivatives skyrocketed by 94.55%, reaching $551.34. When OI and volume rise like this, it's a sign that activity in futures is booming.

Moreover, the Long Short ratio of Popcat surpassed 1 on all major exchange platforms. The overall ratio skyrocketed to 1.1313, indicating there is huge demand for "long" positions, meaning people are betting hard that the price will continue to rise! They have their faith in Popcat! 🙏

Watch out for Greed, my People! ⚠️

But as with everything, there's always a "but." As the price of Popcat has been rising, so has the greed for taking profits among people. The Spot Netflow (which tells us how much money is moving in and out of platforms) rose to $485.9K and then dipped a bit to $278K.

This means that some investors who were somewhat "underwater" (losing money) decided to pull their cash as soon as they saw the price rise. The supply on exchange platforms also increased by 11.92%, reaching $404.2 million, indicating there is selling activity going on. So stay alert!

Will Popcat be able to withstand the downpour and reach $0.40? 🤞

According to AMBCrypto experts, Popcat surged because buyers, especially the whales, returned with tremendous force. The stochastic RSI of the memecoin shot up to 86.73, indicating a strong bullish momentum. But beware! When this metric reaches those levels, it also warns us that there could be more volatility and that buyers might get exhausted.

Even so, the Relative Strength Index (RSI) also went up, hitting bullish territory, confirming that a lot of people are buying. If this trend continues, with buyers firm and momentum growing, Popcat has chances to keep climbing, and it could recover $0.36 and even aim for $0.40!

But remember, the key lies in what the holders do on the platforms. If people keep selling to take profits like in recent days, Popcat could feel the pressure and drop back to $0.28. So stay very attentive to this soap opera! 📺$POPCAT