POPCAT Fails to Match Binance US Listing Hype — Memecoin Still 85% Down From Highs

Key Takeaways

• POPCAT has struggled to recover from its multi-week downturn despite its Binance U.S. debut.
• The memecoin is flirting with the upper trendline, with bulls attempting to break $0.34.
• A bull flag has emerged on the 4-hour POPCAT chart, with both the AO and MFI rising.

Despite the high-profile listing on Binance U.S., Popcat (POPCAT) has struggled to post meaningful gains. In the last 24 hours, POPCAT’s price has fallen by 40% over the past 30 days.

This lackluster reaction has fueled bearish sentiment around the Solana-based memecoin, with some analysts suggesting that POPCAT may struggle to replicate its explosive performance from 2024.

But is that truly the case? Let’s find out

POPCAT Remains Flat

Last month, POPCAT’s price hit a local high of $0.64. Today, the memecoin trades at $0.30.

On the daily chart, POPCAT is confined in a descending channel. This is due to the lack of demand and increased selling pressure surrounding the cryptocurrency.

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However, it is also important to note that the token’s current value is flirting with the upper trendline of the falling channel. This indicates that bulls are trying to help POPCAT break above the overhead resistance at $0.34 and $0.42.

Amid this attempt, the Relative Strength Index (RSI) is below the 50.00 neutral line. This indicates that the momentum around the cryptocurrency is bullish.

If sustained, the token might struggle to exit its 85% drawdown from its all-time high. In supporting this bias, the red line of the Supertrend indicator has positioned above POPCAT’s price, indicating strong upper-level resistance.

Despite the current setup, some traders believe that the Binance U.S. listing , which went live today, could bring recovery for the memecoin. For instance, a pseudonymous trader and crypto analyst, CW, mentioned that POPCAT could rise toward $0.40.

“POPCAT has a buy wall around $0.28. This buy wall will provide support. There is a sell wall around $0.4. If it starts to rise, it will continue to rise smoothly up to that price range,” The trader explained .

POPCAT Price Analysis: Trend Uncertain

Meanwhile, the POPCAT/USD 4-hour chart presents a different outlook. The chart below shows that the memecoin has formed a bull flag while consolidating between $0.28 and $0.30.

In line with this, the Awesome Oscillator (AO) has risen to the positive region, indicating bullish momentum. Should the momentum remain bullish, POPCAT’s price might break the flag’s upper trendline.

In this instance, the memecoin’s value might hit $0.33. Like the AO, the Money Flow Index (MFI) reading has also increased.

The rise in the MFI reading indicates rising buying pressure. If bulls continue to dominate, POPCAT’s price might surpass the point of interest around $0.35 and $0.38.

Once this happens, the next target for the memecoin might be $0.42. If buying pressure increases, it could rise to $0.50.

On the contrary, this prediction might change if bears outpace bullish dominance. In that scenario, POPCAT might drop to $0.24.

Despite the high-profile listing on Binance U.S., Popcat (POPCAT) has struggled to post meaningful gains. In the last 24 hours, POPCAT’s price has fallen by 40% over the past 30 days.

This lackluster reaction has fueled bearish sentiment around the Solana-based memecoin, with some analysts suggesting that POPCAT may struggle to replicate its explosive performance from 2024.

But is that truly the case? Let’s find out

POPCAT

Last month, POPCAT’s price hit a local high of $0.64. Today, the memecoin trades at $0.30.

On the daily chart, POPCAT is confined in a descending channel. This is due to the lack of demand and increased selling pressure surrounding the cryptocurrency.

Try Our Recommended Crypto Exchanges

Sponsored

Disclosure

We sometimes use affiliate links in our content, when clicking on those we might receive a commission at no extra cost to you. By using this website you agree to our terms and conditions and privacy policy.

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214

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eToro US

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Coins

83

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DISCLAIMER: Cryptocurrency is offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk.

Uphold

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Coins

282

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DISCLAIMER: Don’t invest unless you’re prepared to lose all the money you invest.

However, it is also important to note that the token’s current value is flirting with the upper trendline of the falling channel. This indicates that bulls are trying to help POPCAT break above the overhead resistance at $0.34 and $0.42.

Amid this attempt, the Relative Strength Index (RSI) is below the 50.00 neutral line. This indicates that the momentum around the cryptocurrency is bullish.

If sustained, the token might struggle to exit its 85% drawdown from its all-time high. In supporting this bias, the red line of the Supertrend indicator has positioned above POPCAT’s price, indicating strong upper-level resistance.

Despite the current setup, some traders believe that the Binance U.S. listing , which went live today, could bring recovery for the memecoin. For instance, a pseudonymous trader and crypto analyst, CW, mentioned that POPCAT could rise toward $0.40.

“POPCAT has a buy wall around $0.28. This buy wall will provide support. There is a sell wall around $0.4. If it starts to rise, it will continue to rise smoothly up to that price range,” The trader explained .

POPCAT Price Analysis:

Meanwhile, the POPCAT/USD 4-hour chart presents a different outlook. The chart below shows that the memecoin has formed a bull flag while consolidating between $0.28 and $0.30.

In line with this, the Awesome Oscillator (AO) has risen to the positive region, indicating bullish momentum. Should the momentum remain bullish, POPCAT’s price might break the flag’s upper trendline.

In this instance, the memecoin’s value might hit $0.33. Like the AO, the Money Flow Index (MFI) reading has also increased.

The rise in the MFI reading indicates rising buying pressure. If bulls continue to dominate, POPCAT’s price might surpass the point of interest around $0.35 and $0.38.

Once this happens, the next target for the memecoin might be $0.42. If buying pressure increases, it could rise to $0.50.

On the contrary, this prediction might change if bears outpace bullish dominance. In that scenario, POPCAT might drop to $0.24.