Popcat, a meme coin based in Solana (POPCAT), reached a new high today of $1.47. The asset has risen by 19,4% per day, 53,7% per week, 58% for the 14-day chart, and 188,4% versus the previous month.
With a market capitalization of $1.42 Billion, the cat-themed crypto has reached the 63rd position amongst the most valuable projects. The meme coin is down 0.7% since its high.
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What is the Memecoin up to today?
Popcat, based in Solana, has been following the market’s general trend. Bitcoin (BTC), which was trading at $60,000, has now reclaimed $63,000. It is possible that the market’s resurgence was triggered by Friday’s positive employment data.
POPCAT’s rise could also be due a possible Federal Reserve rate cut for November.
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It is also possible that the market’s rally was due to October historically being a bullish month on the cryptocurrency market.
How soon can the POPCAT based in Solana hit $2?
The analysts at CoinCodex believe that the meme currency will maintain its upward trajectory in the upcoming weeks. Platform predicts that POPCAT will surpass the $2 mark in October 2024, and the meme coin will reach a peak of $3.53 by Oct. 31 2024. To reach $3.53 at current prices, a jump of 141.7% is required.
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POPCAT could continue to rally if Bitcoin (BTC), continues its bullish outlook. The meme coin is likely to experience a similar situation if the market experiences a correction. The geopolitical tensions that are raging in the Middle East may cause a drop in investor confidence, and this could negatively affect the price of the meme coin.
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Source: watcher.guru
