Memecoins
Popcat SOL, the only Memecoin Solana performing now
- Popcat remains the only Solana cryptocurrency with gains as the overall market declines.
- Technical data and POPCAT indicators reveal short-term corrections and pullback trends.
Popcat, Solana’s meme coin, is the only cryptocurrency among Solana’s major meme coins to perform upward amid market turbulence. POPCAT on Thursday saw a weekly increase of 84% and a decline of only 4% in the monthly picture. At press time, Popcat is trading at $0.456 with a 24-hour change of -2.27% and volume down 58%.
Other Solana members show slower price action over the 7-day frame: the top WIF fell 3.8%, BONK fell 2.5%, and BOME rose 2%.
Despite this slowdown, memecoin seasons are expected to explode at any time with the growth of Bitcoin price and overall market conditions.
Popcat will correct, except for a pullback
In the POPCAT/USDT 4-hour chart, we can see a short-term correction. The price is trading close to the center line of the Bollinger bands, this indicates a consolidation phase in the process. Furthermore, wide bands represent decreasing volatility.
Additionally, the volume oscillator shows a decline of -42%, showing increasing selling pressure and volume falling to an all-time low.
Although the technology indicates a correction, the price is mostly made up of short-, medium- and long-term moving averages that push the price to stay above $0.35.
Will POPCAT Resist Above $0.45?
With the current price action and increasing selling pressure, POPCAT may find a trading zone between $0.42 and $0.45, the support area. The price will continue a sideways momentum until the market recovers or the memecoin session occurs.
If the market behaves resiliently to the current trend, POPCAT could break above the crucial $0.53 resistance and a break above this will lead to a rally towards $0.72 level.
Traders are keeping an eye on the support zone for any further corrections, but any correction from here on will be a buying opportunity for Popcat.