{"id":386529,"date":"2024-04-23T15:30:10","date_gmt":"2024-04-23T10:00:10","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=386529"},"modified":"2024-04-23T13:00:22","modified_gmt":"2024-04-23T07:30:22","slug":"solana-memecoin-popcat-rises-25-in-24-hours-is-this-why","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/solana-memecoin-popcat-rises-25-in-24-hours-is-this-why\/","title":{"rendered":"Solana memecoin POPCAT rises 25% in 24 hours: Is this why?"},"content":{"rendered":"<ul>\n<li><em><span style=\"font-weight: 400;\">POPCAT has seen a double-digit price hike in the past 24 hours.<\/span><\/em><\/li>\n<li style=\"font-weight: 400;\"><em><span style=\"font-weight: 400;\">This has been due to the surge in its discussion rate during that period.<\/span><\/em><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\"><a href=\"http:\/\/ambcrypto.com\/category\/bitcoin-news\/\" target=\"_blank\" rel=\"noopener\">Solana [SOL]<\/a>-based meme coin <a href=\"http:\/\/ambcrypto.com\/predictions\/popcat-price-prediction\" target=\"_blank\" rel=\"noopener\">Popcat [POPCAT]<\/a> leads the cryptocurrency market as the asset with the most social activity in the past 24 hours, causing its price to gain by double digits during that period.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In a post on X (formerly Twitter), on-chain data provider Santiment noted that the surge in the meme coin\u2019s discussion rate has been due to a brief rebound in <a href=\"http:\/\/ambcrypto.com\/category\/bitcoin-news\/\" target=\"_blank\" rel=\"noopener\">Bitcoin\u2019s [BTC]<\/a> value above $67,000 during the intraday trading session on the 22nd of April.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">\ud83d\udde3\ufe0f\ud83e\udd73 <a href=\"https:\/\/twitter.com\/hashtag\/Altcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Altcoin<\/a> markets are riding high as <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a>&#39;s rebound back above $67K has allowed profits to resume redistributing into more speculative <a href=\"https:\/\/twitter.com\/hashtag\/cryptocurrency?src=hash&amp;ref_src=twsrc%5Etfw\">#cryptocurrency<\/a> assets. According to <a href=\"https:\/\/twitter.com\/santimentfeed?ref_src=twsrc%5Etfw\">@santimentfeed<\/a>&#39;s dashboard, the tokens receiving the highest increase in discussion are:<\/p>\n<p>\ud83e\ude99\u2026 <a href=\"https:\/\/t.co\/TjXHOdb0LF\">pic.twitter.com\/TjXHOdb0LF<\/a><\/p>\n<p>&mdash; Santiment (@santimentfeed) <a href=\"https:\/\/twitter.com\/santimentfeed\/status\/1782586207320645768?ref_src=twsrc%5Etfw\">April 23, 2024<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span style=\"font-weight: 400;\">At press time, POPCAT traded at $0.36, recording a 25% price hike in the last 24 hours, according to <a href=\"https:\/\/coinmarketcap.com\/currencies\/popcat-sol\/\" target=\"_blank\" rel=\"noopener\">CoinMarketCap<\/a>. Within the same period, its daily trading volume increased by 99%.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In the last week, the meme coin\u2019s value has grown by over 200%.<\/span><\/p>\n<h4><b>Rally may continue in the short term<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">According to Santiment, POPCAT remains at \u201ca higher risk of a correction until FOMO dies down.\u201d <\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, an assessment of some key technical indicators revealed that the meme coin\u2019s price may extend its gains in the short term.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">First, its key momentum indicators observed on a 24-hour chart showed a steady increase in demand for the meme coin. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">As of this writing, the values of its Relative Strength Index (RSI) and Money Flow Index (MFI) were 63.53 and 67.67, respectively.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">These values showed that POPCAT\u2019s buying pressure outpaced selling momentum among market participants.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Similarly, the meme coin\u2019s Chaikin Money Flow (CMF)\u2014which measures the flow of money into and out of the asset\u2014trended upward. As of this writing, POPCAT\u2019s CMF was 0.31.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">A CMF value above zero is a sign of market strength, as it indicates that the market is being supplied with the liquidity necessary to sustain a price rally.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Confirming the current bullish trend, POPCAT\u2019s Elder-Ray Index returned a positive value at press time.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The indicator measures the relationship between the strength of the altcoin\u2019s buyers and sellers in the market. When it is positive, it means that bull power is dominant in the market.\u00a0\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">At the time of press, SOL\u2019s Elder-Ray Index was 0.29. The indicator has returned only positive values since the 21st of April.<\/span><\/p>\n<hr \/>\n<p style=\"text-align: center;\">Read\u00a0<a href=\"http:\/\/ambcrypto.com\/predictions\/solana-price-prediction\/\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\">Solana\u2019s [SOL] Price Prediction<\/a>\u00a02024-25<\/p>\n<hr \/>\n<p><span style=\"font-weight: 400;\">Likewise, POPCAT\u2019s MACD (blue) line initiated an uptrend and crossed above its signal (orange) and zero lines on the 21st of April, signaling the commencement of a new bull cycle.\u00a0<\/span><\/p>\n<figure id=\"attachment_386532\" aria-describedby=\"caption-attachment-386532\" style=\"width: 2366px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/POPCATUSDT_2024-04-23_07-36-15.png\"><img decoding=\"async\" class=\"size-full wp-image-386532\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/POPCATUSDT_2024-04-23_07-36-15.png\" alt=\"POPCAT 1-Day TradingView\" width=\"2366\" height=\"1324\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/POPCATUSDT_2024-04-23_07-36-15.png 2366w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/POPCATUSDT_2024-04-23_07-36-15-300x168.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/POPCATUSDT_2024-04-23_07-36-15-1024x573.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/POPCATUSDT_2024-04-23_07-36-15-768x430.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/POPCATUSDT_2024-04-23_07-36-15-1536x860.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/POPCATUSDT_2024-04-23_07-36-15-2048x1146.png 2048w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/POPCATUSDT_2024-04-23_07-36-15-1200x672.png 1200w\" sizes=\"(max-width: 2366px) 100vw, 2366px\" \/><\/a><figcaption id=\"caption-attachment-386532\" class=\"wp-caption-text\">Source: POPCAT\/USDT on TradingView<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">When a crossover like this occurs, it is viewed as a strong bullish signal. It means that the asset is not only experiencing a surge in bullish momentum but is also transitioning into positive territory.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>If its 1-day chart is to be believed, POPCAT may extend its gains in the short term.\u00a0<\/p>\n","protected":false},"author":64,"featured_media":386535,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[5824,66,3,4,6376,20],"tags":[6427],"class_list":["post-386529","post","type-post","status-publish","format-standard","has-post-thumbnail","category-memecoins","category-new-news","category-news","category-social","category-solana-news","category-trading-view","tag-ambcrypto"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Solana memecoin POPCAT rises 25% in 24 hours: Is this why? 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