POPCAT Market Capitalization Surpasses $1 Billion, What's on the Horizon?

2024-10-08, 12:56

According to Gate.io market data, POPCAT is currently priced at $1.24, with a 24-hour decline of 11%. It has a circulating market cap of $1.216 billion, ranking 59th in the entire cryptocurrency market, making it the first cat-themed meme coin to surpass a market cap of $1 billion. Originating in October 2020, POPCAT features a viral meme of a cat named “Oatmeal,” showcased in various videos. As the highest market cap cat-themed meme coin, POPCAT has captured many netizens’ hearts with its playful expression and large mouth, embodying internet culture and the thriving crypto world.

Trading Strategies:

Reversal Trade
Direction: LONG
Entry Price: When POPCAT drops to around the BOLL support price of $1.1929
Strategy Features: Based on the support level formed by BOLL support, a price rebound is expected. Given a neutral market sentiment, consider establishing long positions near the support level.

Trend Following Trade
Direction: SHORT
Entry Price: When POPCAT consistently stays below the EMA (Exponential Moving Average)
Strategy Features: Based on the downward trend indicated by the EMA, consider shorting in line with the trend. With neutral market sentiment and significant capital outflows, continuous downward gains are anticipated.

Author: Icing, Gate.io Researcher

*This article represents only the views of the researcher and does not constitute any investment suggestions.

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