Memecoins have been quite the talk of the town recently; and $POPCAT hasn’t been left behind in this trend. As per a post by Coingecko, the coin has seen a 14.5% surge in the last 24 hours. This meme-based token has also surpassed the $1 billion market cap threshold within the same period.
$POPCAT (@POPCATSOLANA) is up 14.5% today, reaching $1.05 and crossing the $1B market cap within the last 24 hours.
View Price Chart ➡️ https://t.co/lbmd3mvqAn pic.twitter.com/UvtLsKFBav
— CoinGecko (@coingecko) September 25, 2024
Currently, $POPCAT is trading at $1.05 and has a market capitalization of $1.05 billion. Its trading volume has also spiked by 35% in the last 24 hours, indicating rising interest in the coin!
Popcat Growth Led by Market Sentiment
Popcat’s recent performance follows the general market trend. The token started gaining much attention when Bitcoin surged past $63,000 on September 19, 2024. This development creates a new hope for a broader crypto bull run as investors’ perception of the market is increasingly optimistic. Because of this, Popcat memecoin has attracted both new and seasoned investors.
Since its launch in December 2023, $POPCAT has seen incredible growth: 6,000% up in less than a year. 2024 has been a breakout year for Popcat, which quickly rose from the funny, meme-inspired token to a serious contender in the crypto market. This token’s gain of momentum is undeniable as more people are investing in the token.
Popcat Experiences Increased Activity on DEXs
In addition to a price increase, Popcat is also enjoying more traction on decentralized exchanges. According to GeckoTerminal, Popcat and Solana are the second-largest pools on DEX platforms, with a combined trading volume of $43.35 million.
The uptick in traction underlines how demand for the meme coin grows on decentralized platforms as traders seek alternatives to centralized exchanges. Analysts remain divided on Popcat’s future. While some predict the coin could reach $2 before the end of the year, other, more conservative analysts say it might struggle to keep up its current pace.
Conservative analysts predict Popcat’s price might not get too far from the $1 mark before it sees any further significant growth. However, these mixed views have not dulled investor optimism as the token continues upward.
Meme Coins Gain More Attraction from Investors
As Popcat rises in price and adoption, the memecoin is not alone in this uptick. Memecoins, which were belittled as a class of novelty tokens, took center stage in crypto in 2024.
What started as fun and light projects have slowly turned out to be effective and profitable to many investors. The case of Popcat just confirmed that memecoins are finding their place among investors willing to capitalize on market trends.
Nonetheless, memecoins are highly volatile, and the Popcat token is no exception. Prices can fluctuate quickly, and while the token’s recent gains look impressive, you should be aware of the risks involved in investing in memecoins.
