POPCAT’s price has tumbled to a 9-month low, but a rebound may be imminent | Credit: Derek Fenech
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Key Takeaways
The POPCAT volume has dropped much lower than $40 million, but this signifies that the downtrend is now weak.
The price decline has led to a falling wedge, indicating that buying pressure could trigger a bounce.
While POPCAT’s price may climb above $1 in the long term, the short-term outlook suggests an increase to %0.67.
Cat-themed memecoin Popcat (POPCAT) has slipped to $0.25 — its lowest level since June 2024. This development comes amid the broader market decline.
POPCAT’s price, which hit a new all-time high of $2.07 in November, is now down 88%. However, the token could claw its way back up as a bullish pattern seems to be forming.
However, that will depend on the sentiment around cryptocurrency in the market. Here are the likely targets if POPCAT sees an increase in buying pressure.
When POPCAT’s price climbed to $2, its volume surpassed $400 million. Generally, an increase in volume indicates high liquidity around an asset.
In most cases, when price rises alongside increasing volume, it signals a strong uptrend. But if volume drops while the price climbs, it suggests a weak rally that could fade.
In POPCAT’s case, trading volume has sharply declined from its peak, now sitting at $69.24 million. However, since both price and volume are dropping together, selling pressure around the memecoin is easing.
Therefore, this could imply that POPCAT might not experience another double-digit correction in the short term. Instead, it appears to be nearing its bottom, which could trigger a reversal.
Additionally, analysis of the daily chart supports this outlook as the price decline has formed a falling wedge—a pattern seen as a bullish reversal sign.
As seen below, the POPCAT price seems to have bottomed out at $0.22, near the wedge’s lower trendline.
However, buying pressure must be intense to validate the breakout, and the memecoin has to rise above the resistance by $0.72.
If buyers step in and the price breaks above the wedge’s upper trendline, POPCAT could see a strong rebound above $1 in the mid to long term.
However, if selling pressure persists, the memecoin might continue consolidating before any significant move comes into play.
Like the daily chart, the 4-hour chart also appears to agree with POPCAT’s price recovery. One of the indicators leading this prediction is the Chaikin Money Flow (CMF).
The CMF assesses the level of liquidity flowing into a cryptocurrency. This indicator determines whether accumulation dominates or distribution takes the lead.
A rising CMF suggests intense buying pressure, while a declining CMF indicates increased selling pressure. On Feb. 2, the CMF reading was -0.52, indicating that POPCAT faced high selling pressure then.
While the reading is still negative, the image below shows it is on the cusp of rising above the zero signal line. Therefore, if this trend continues, POPCAT’s price might rise above the 0.382 Fibonacci level, also known as the bear market support floor.
Once validated, the meme coin might climb to $0.67. Should buying pressure intensify, POPCAT could rally to $0.80 in the short term.
Alternatively, if the CMF fails to rise above the signal line successfully, this might not happen. In that scenario, the memecoin’s value might sink to $0.16.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Victor Olanrewaju is a crypto analyst and reporter at CCN with deep roots in on-chain research and technical analysis. His crypto journey began in 2017, but it was the 2020 Uniswap airdrop that sparked a full-time pivot into the space.
With a foundation in copywriting, Victor honed his craft creating high-converting content for leading crypto brokers — most notably an XRP price prediction that ranked #1 on Google during the 2021 bull run.
He later joined AMBCrypto in 2022, where he combined storytelling with technical and on-chain analysis to cover key market narratives.
In 2024, he expanded his expertise at BeInCrypto, collaborating with analysts and using tools like Glassnode, Santiment, and IntoTheBlock to break down Bitcoin and altcoin trends.
At CCN, Victor covers the top cryptocurrencies, memecoins, macro shifts, blending real-time insights with deep-dive metrics.
He holds a Bachelor’s degree in Physics from the University of Ibadan, equipping him to simplify complex data for a wide audience. Follow his work or connect on LinkedIn or X.
