Popcat Surges 13.6% as Futures Interest Soars and Market Sentiment Turns Bullish

Popcat Surges 13.6% as Futures Interest Soars and Market Sentiment Turns Bullish

Popcat has emerged as the top-performing cryptocurrency of the day, driven by enhanced community sentiment and a notable increase in futures open interest.

Over the past 24 hours, Popcat has surged by 13.6%, currently trading at $1.37 at the time of writing. The coin has seen an impressive 90.5% increase in value over the past 30 days, with its market capitalization soaring to $1.33 billion. Additionally, its 24-hour trading volume spiked to $151.8 million, reflecting the growing interest in the meme coin.

The broader cryptocurrency community remains largely bullish on Popcat’s future, according to data from CoinMarketCap.

Popcat’s price rally also coincided with a significant rise in futures open interest. Data from CoinGlass shows a 21% increase in open interest within the last 24 hours, highlighting a growing appetite for the token in the futures market.

Moreover, the number of Popcat holders has now exceeded 80,000, signaling expanding community participation and increasing investor confidence.

On the daily POPCAT/USDT chart, the coin’s price is trading above the middle Bollinger band, indicating a possible continuation of the current bullish trend. The Relative Strength Index (RSI), which has cooled off from its overbought levels on October 12, now sits at 60, suggesting that there is still room for further gains before approaching overbought territory again.

Analysts are optimistic about Popcat’s price trajectory. The pseudonymous market analyst Trading Tank notes that Popcat is approaching a critical resistance level at $1.54, its all-time high, which also forms the neckline of a bullish double-bottom pattern. Should Popcat break through this level, there’s a strong potential for it to set new all-time highs in the near term.

Looking ahead, Trading Tank has identified potential targets for Popcat. The meme coin is likely to encounter resistance at $1.9250. If the bulls manage to clear this hurdle, the next price objectives could be $2.3850 and $3.310.

Other market analysts have forecasted even more bullish scenarios for Popcat. In an October 17 post on X, the user Trade4ddict suggested that Popcat could continue its climb towards $4, especially after its recent breakout above the $1 resistance level. Similarly, analyst Murad has projected that Popcat could potentially reach $5 to $6.