Solana Meme Coin POPCAT Hits New All-Time High, Surging 148% in One Month

Solana Meme Coin POPCAT Rallies to New ATH, Outshining Altcoins with 148% Surge

A notable rise has brought the Solana meme coin POPCAT to a new all-time high (ATH). The coin has risen 148% in the last month, breaking through the critical $1.00 resistance level and hitting $1.28. Strong market sentiment and distinctive features that let POPCAT stand out from other altcoins made this a turning point for the cryptocurrency.

The fact that POPCAT and Bitcoin do not correlate is one of the main causes of the latter’s current surge. When its correlation with Bitcoin declines, POPCAT has historically outperformed several other altcoins that tend to move in lockstep with BTC’s price changes. Currently, POPCAT and BTC have a lesser link, with the correlation dropping to 0.33.

POPCAT Reaches New High of $1.29 as RSI Indicates Strong Buying Pressure

POPCAT‘s macro momentum is still strong from a technical standpoint. Currently, in the former zone is the Relative Strength Index (RSI), a crucial metric for evaluating overbought or oversold conditions. Despite this, the RSI continues to rise, indicating that POPCAT is still under a lot of purchasing pressure.

It is important to keep in mind, too, that POPCAT and other meme coins can undergo abrupt price drops, particularly when investors decide to cash in on their gains. The RSI is in the overbought zone. Therefore, even though POPCAT holders haven’t exhibited any signs of selling, there is a chance of a possible pullback.

The price of POPCAT increased by 2.83% in the last day, pushing the meme coin headquartered in Solana to a new all-time high of $1.29. Motivated by positive technical signs and a robust market mood, the market has rallied 109% over the last month, including this noteworthy surge. As a formidable resistance level in the past, breaking beyond the $1.00 barrier was a major accomplishment for POPCAT. The meme coin reached unprecedented heights because of the supportive conditions of the broader market.

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