Memecoin Popcat (POPCAT) has staged a remarkable rebound. After seven straight days dominated by sellers, buyers have returned, pushing the price up 13.89% to $0.34. In doing so, the token successfully defended the crucial $0.30 support level, sparking speculation that it could soon test $0.40.
Sharp Reversal After Seller Pressure
Following a drop to $0.29, Popcat bounced back strongly, reclaiming lost ground. The price climbed to a daily high of $0.346 before easing slightly to $0.344 at the time of writing.
Trading volume surged 20% in 24 hours to $54 million, while market capitalization rose 13% to $337 million.
Buyers Return to the Market
According to Coinalyze, Popcat has recorded its first positive market delta – the difference between buy and sell volume – in a week. At the time of writing, buy volume stood at $4.58 million versus sell volume of $3.97 million, resulting in a positive delta of $607,000, a clear sign of aggressive accumulation.
A similar trend appeared on exchanges, where CoinGlass data showed that net flows remained negative for five consecutive days, indicating more tokens leaving exchanges than entering. Currently, net outflows stood at - $100,000. Historically, such a shift in exchange flows often precedes price rallies.
Optimism in the Derivatives Market
With market activity picking up, interest in futures contracts also grew. Open Interest on Popcat jumped 9.14% to $151.9 million, while derivatives trading volume rose 2.08% to $321 million.
The long-to-short ratio climbed to 1.0113, meaning long positions dominate – 68% of traders expect prices to rise, while 31% are betting on a decline. This ratio signals strong bullish sentiment.
Technical Indicators Support the Bulls
Analysis indicates that the return of buyers pushed Popcat’s Relative Strength Index (RSI) to 51, signaling bullish momentum. Meanwhile, the Chaikin Money Flow (CMF) rose from 0.12 to 0.19, confirming capital inflows
What’s Next?
If buyers maintain their current momentum and market conditions remain as they have over the last 24 hours, Popcat could first reclaim $0.36 and then test resistance at $0.40.
However, if sellers regain control, a break below the $0.30 support could trigger a decline toward $0.285.
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