Dogecoin

bullish

Shiba Inu

POPCAT

<p>In this struggling cryptocurrency landscape, the popular Solana-based Popcat (POPCAT) is projected to hit $1 due to the formation of a bullish price action pattern. On September 17, 2024, with its impressive performance, POPCAT outperformed top meme coins including Dogecoin (DOGE), Shiba Inu (SHIB), Pepe (PEPE), and many others.&nbsp;</p>   
<h2 class="wp-block-heading" id="h-popcat-price-momentum-nbsp"><strong>POPCAT Price Momentum&nbsp;</strong></h2>   
<p>At press time, POPCAT is trading near the $0.75 level and has experienced a price surge of over 10% in the last 24 hours. During the same period, its trading volume jumped by 10%, indicating increased participation from traders and investors amid ongoing market recovery.</p>   
<h2 class="wp-block-heading" id="h-popcat-technical-analysis-and-upcoming-levels"><strong>POPCAT Technical Analysis and Upcoming Levels</strong></h2>   
<p>According to expert technical analysis, <a href="https://coinpedia.org/news/popcat-listing-on-binance-whale-buys-10-million-tokens/">POPCAT</a> appears bullish and is currently at a crucial resistance level of $0.80 level. The potential reason for this bullish outlook is the formation of a bullish cup-and-handle price action pattern on a daily time frame.</p>   
<figure class="wp-block-image size-large">
 <a href="https://image.coinpedia.org/wp-content/uploads/2024/09/17222955/POPCATUSDT_2024-09-17_22-29-29-1024x448.png"><img src="https://image.coinpedia.org/wp-content/uploads/2024/09/17222955/POPCATUSDT_2024-09-17_22-29-29-1024x448.png" alt="" class="wp-image-351794"></a>
 <figcaption class="wp-element-caption">
  Source: Trading View
 </figcaption>
</figure>   
<p>If POPCAT breaches this resistance level and closes a daily candle above the $0.80 level, there is a strong possibility it could rise by 25% to the $1 level in the coming days.</p>   
<h2 class="wp-block-heading" id="h-bullish-on-chain-metrics"><strong>Bullish On-chain Metrics</strong></h2>   
<p>Currently, this bullish outlook is further supported by the on-chain metrics. <a href="https://www.coinglass.com/currencies/POPCAT" target="_blank" rel="noreferrer noopener nofollow">Coinglass’s</a> POPCAT’s Long/Short ratio stands at 1.032 (A value above 1 indicates bullish market sentiment among traders).&nbsp;</p>   
<figure class="wp-block-image size-large">
 <a href="https://image.coinpedia.org/wp-content/uploads/2024/09/17223032/fkvndkc.png"><img src="https://image.coinpedia.org/wp-content/uploads/2024/09/17223032/fkvndkc-1024x273.png" alt="" class="wp-image-351796"></a>
 <figcaption class="wp-element-caption">
  Source: Coinglass
 </figcaption>
</figure>   
<p>Additionally, POPCAT’s future open interest has increased by 10%, in the last 24 hours and 4% in the past four hours. This rising open interest indicates growing interest among traders amid a potential breakout.</p>   
<p>Traders and investors often use the combination of rising open interest and a long/short ratio above 1, when building long or short positions. At present, 50.72% of bulls currently hold long positions, while 49.28% hold short positions, according to Coinglass data.&nbsp;</p>   
<p>However, this bullish thesis will only hold if POPCAT closes its daily candle above the $0.80 level, otherwise, it may fail.&nbsp;</p>

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