The Solana-based meme coin, Popcat, has seen a remarkable 13% surge in the last 24 hours. This puts it ahead of popular meme coins like Shiba Inu (SHIB) and PEPE, which have increased by 9% and 8%, respectively, in the same time frame.
Right now, Popcat is trading at a new all-time high of $1.74. It’s showing strong momentum and seems ready to keep climbing. Let’s break down what might be driving this rise.
According to BeInCrypto's analysis of the POPCAT/USD one-day chart, there’s a good chance the rally will continue. The moving average convergence/divergence (MACD) indicator signals a bullish outlook. This tool helps measure price trends and can indicate when it might be a good time to buy or sell.
Currently, the MACD line (in blue) is above both the signal line (in orange) and the zero line. This setup points to a bullish trend and suggests that the price is likely to keep rising. When the MACD line moves ahead of the signal line, it shows strong buying interest, which can support further price increases.
Additionally, Popcat’s Aroon Up Line is sitting at 100%. This confirms the strength of the current uptrend. The Aroon indicator measures how strong a trend is. When the Up Line hits 100%, it means the price has just reached a new high.
If this bullish momentum continues, Popcat could push past its all-time high of $1.74. The Parabolic Stop and Reverse (SAR) indicator currently suggests that bulls are in control of the market.
At this moment, the SAR dots, which indicate the trend direction and potential reversal points, are below Popcat’s price. When these dots are positioned under the price, it signals that the asset is experiencing upward pressure, reinforcing the bullish trend. Traders often interpret this as a cue to buy.
However, if profit-taking starts, Popcat's price might see a correction. It could aim to establish support at $1.42. If that level doesn’t hold, the value could drop to $1.17, which would be a significant 33% decrease from its current price.