- POPCAT dropped 92% but may rebound 5x if it reaches the 0.382 Fibonacci level.
- Coinbase listings enhance liquidity, boosting optimism for POPCAT’s market recovery.
- RSI and MACD indicate bullish momentum, but caution is needed amid market volatility.
The crypto market has witnessed sharp declines in several meme coins, but analysts foresee a strong comeback. POPCAT, a Solana-based meme token, has dropped significantly from its peak, yet experts believe a major recovery could be imminent.
According to MacroCRG, the token has plunged 92% from its all-time high. A bounce to the 0.382 Fibonacci retracement level of the downtrend could yield a potential 5x return.
Meanwhile, renowned analyst TraderSZ has also expressed optimism, expecting Solana meme coins to recover soon, provided Bitcoin and Solana maintain stability. With growing investor confidence, the recent Coinbase listing, and technical indicators signaling potential strength, POPCAT may be gearing up for a strong bullish move.
Coinbase Listings Boost Market Exposure
The leading cryptocurrency exchange Coinbase has recently added POPCAT to its spot listing roadmap, significantly increasing its market exposure. This development has fueled optimism among traders and investors who anticipate increased liquidity and broader accessibility.
Additionally, Coinbase has unveiled a perpetual contract launch for POPCAT, allowing leveraged trading opportunities. These enhancements have sparked renewed interest in the token, with market participants eyeing its future trajectory.
As a result, POPCAT’s price has shown resilience, trading at $0.2691 with a 3.35% increase in the last 24 hours, despite experiencing a 1.86% decline over the past seven days.
Technical Indicators Suggest a Potential Rebound
Market indicators highlight a possible shift in momentum for POPCAT. The Relative Strength Index (RSI) currently stands at 37.48, indicating the asset is recovering from oversold conditions. This suggests that buying interest may be returning at current levels.
Additionally, the Moving Average Convergence Divergence (MACD) line has crossed above the signal line, pointing to growing bullish momentum. However, the histogram remains in negative territory, signaling that cautious optimism is necessary.
With a circulating supply of 980 million POPCAT tokens, the meme coin currently holds a market capitalization of $270.86 million, reflecting its significant position within the Solana ecosystem.
