- POPCAT is a listing that has exploded in popularity with each listing
- Kraken’s new addition will it continue the trend or market volatility?
Solana [SOL]The ‘based memecoin POPCAT At press time, the price has increased by over 20% in just 7 days. Kraken’s next listing was announced on X The FOMC’s rate-cut decision is aligned with (formerly Twitter). It can therefore be expected that POPCAT’s value and visibility will increase.
This also raises a significant question – Could this listing serve as a catalyst for POPCAT to hit its next all-time high?
Lists of POPCAT listings have increased before
POPCAT is listed historically on KuCoin Bybit OKX. The chart below shows that listings are often used to bridge the gap between ask and bid order.
POPCAT was listed on the 21st of June by Bybit, which is the fourth largest spot exchange, with daily volumes exceeding $4 billion. POPCAT tested $0.22235 as a support level the day prior to listing. But despite this, the stock soared up to $0.60 within a week, despite all of the negative pressure.
Bitcoin, which had previously tested the ceiling of $70k, has seen a sharp decline in the last two weeks, falling below $60k.
Bybit’s listing, in short, was the catalyst which caused POPCAT to surge by more than 160%. This, despite market volatility. POPCAT closed at $0.99997 within a month after the listing. It nearly reached the high of $1.
Binance also listed POPCAT in the Futures Market. Within three days the price of this token grew from $0.58 per token to $0.75.
Additionally, the OI surged from $2.40M to $14.85M in 20 days – A 518% increase. Additionally, total OI increased from $38M to $60.24M.
Despite Futures traders interest matching July’s ATH price, this time the impact on prices was less than expected.
Does the volatility of POPCAT hinder or help POPCAT achieve $1 status?
It will be revealed in due time
POPCAT is still vulnerable to Bitcoin downturns despite Kraken’s recent announcement. This was evident by the drop in late August. Memecoins are a community-supported currency, so their performance socially is crucial.
POPCAT’s social volume has risen after a sluggish September. This is a reflection of the impact that announcement had. As of the press release, POPCAT’s social volume had risen 12% since its close on September 1st.
You can read more about it here POPCAT Price Prediction 2024-25
It’s important to note that POPCAT listing must also coincide with FOMC’s meeting. The performance of POPCAT could be affected by both incidents, whether they happen as a result of coincidence or on purpose.
At the moment, $0.70 is critical. In the event that it was tested, POPCAT could reach $1 depending on what happens.
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: ambcrypto.com