- Popcat was up 15.37% over the past day, at press time.
- Demand was rising in both spot and futures, setting Popcat up for a potential rally to $0.47.
Over the past day, Popcat [POPCAT] has experienced significant gains on its price charts to hit a local high of $0.429.
In fact, at the time of writing, Popcat was trading at $0.4199. This marked a 15.37% increase over the last 24 hours.
As prices surged, the memecoin’s volume followed suit, spiking by 84.8% to reach $72 million, with the total volume rising to $389.7 million.
Source: Coinalyze
The sharp rise in volume signals increasing demand for Popcat as buyers reenter the market.
In the spot market, buyer dominance is evident—4.79 million tokens have been purchased in the past day.
With a positive order imbalance of 48K, buying pressure is strengthening, further supporting the memecoin’s upward momentum.
Source: CoinGlass
The recent buying activity has kept Popcat’s Exchange Netflow negative, indicating high accumulation as withdrawals outpace deposits. Over the past two weeks, only one positive netflow was recorded, five days ago.
A similar trend is visible in the futures market, where investor sentiment remains highly bullish.
Open interest (OI) has surged 14.5% in the past day, reaching $157 million, signaling strong capital inflows as traders reposition for the next move.
Source: Coinalyze
Looking further, it seems that most of these participants are bullish. This is because over the past week, traders have been aggressively taking long positions.
As such, Popcat’s Funding Rate has remained positive throughout this period. This indicates that investors are taking long positions, anticipating prices to rise further and make more gains.
This market setup is currently validated as longs account for 52% of the Futures accounts.
Is Popcat ready to rally?
According to AMBCrypto’s analysis, Popcat was breaking out of a descending pattern at the time of writing. After dropping to a low of $0.32, the memecoin successfully defended the $0.35 critical support level and bounced.
The recent gains signal strong upward momentum as sentiment turns bullish. This bullishness is evidenced by the fact that Popcat’s RSI was close to making a bullish crossover.
If this move completes and finally makes a crossover, it will validate the uptrend and its potential to continue.
Source: TradingView
If the current trend continues, Popcat could flip its 21DMA at $0.4491, a key resistance level, after surpassing its short-term MA at $0.41.
A break above this resistance would set up a potential rally to $0.47. However, for bullish momentum to persist, Popcat must stay above its short-term MA.
Failure to hold this level could signal a failed breakout, leading to a pullback toward $0.387.
