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Solana-based memecoin POPCAT hit an all-time high on Sep. 25 as its market cap shot past the $1 billion mark. 
At press time, <a href="https://crypto.news/popcat-records-22-spike-can-bulls-target-the-1-mark/" target="_blank">Popcat </a>(<a href="https://crypto.news/price/popcat/" target="_blank">POPCAT</a>) was still up 10% over the past day, exchanging hands at $1.02. The meme coin had surged to its all-time high of $1.07 earlier on the day, and almost 60% higher than its weekly low. 
Popcat’s recent price surge has pushed its market cap over $1 billion, landing it in the 82nd spot among cryptocurrencies, according to CoinGecko. Its daily trading volume also jumped by 53%, hitting around $136 million. 
Meanwhile, the social sentiment around Popcat has been bullish, according to CoinMarketCap <a href="https://coinmarketcap.com/currencies/popcat-sol/" target="_blank">data</a>. Following its recent feat, whales have turned their attention to the meme coin, with one investor <a href="https://x.com/lookonchain/status/1838860636224393352" target="_blank">scooping up</a> $1.3 million worth of POPCAT at $1 on the same day. 
A look at Coinglass <a href="https://www.coinglass.com/currencies/POPCAT" target="_blank">data </a>shows POPCAT’s open interest is up 13%, reaching its all-time high of $106 million when writing, pointing to a rise in the number of traders that are engaging with the meme coin driving its rally. Additionally, the weighted funding rate has spiked to a record high of 0.0200%, further supporting the coin’s upward momentum. 
The surge has propelled POPCAT close to the upper Bollinger Band, which currently sits at $1.0704. This indicates that the asset will soon reach an overbought zone, though it also reinforces the strong bullish momentum in the short term. 
<figure class="wp-block-image size-full">
 <img loading="lazy" decoding="async" width="928" height="542" src="https://crypto.news/app/uploads/2024/09/POPCATUSDT_2024-09-25_14-35-13.png" alt="POPCAT hits all-time high as market cap surges past $1b - 21" class="wp-image-14299770">
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 POPCAT price, Bollinger Bands and CCI – Sept. 25 | Source: <a href="https://crypto.news/price/popcat/" target="_blank">crypto.news</a>
 </figcaption>
</figure> 
Furthermore, its Commodity Channel Index spiked to 143.81 following the recent rally, a level well above the overbought threshold of 100. Such elevated readings typically signal the potential for an impending correction, urging caution among traders. 
 You might also like: <a rel="" href="https://crypto.news/popcat-dogs-soar-as-bitcoin-reclaims-56k/"> POPCAT, DOGS soar as Bitcoin reclaims $56k </a> 
If POPCAT continues to gain momentum and breaks above the $1.070 resistance level, it could push higher, with $1.2 as the next psychological target. 
In contrast, failure to maintain current support levels could result in a further decline, with the middle Bollinger Band around $0.7482 serving as the first support zone. Traders should be cautious of potential consolidation or heightened volatility around these critical levels. 
Popcat’s latest rise is part of a broader rally in cat-themed meme coins. Cat in a Dog’s World (<a href="https://crypto.news/price/Cat-in-a-Dogs-World/" target="_blank">MEW</a>), another Solana-based cat-themed token, saw an 8% gain in the last 24 hours, while Mog Coin (<a href="https://crypto.news/price/mog-coin/" target="_blank">MOG</a>) and Michi (<a href="https://crypto.news/price/michi/" target="_blank">MICHI</a>) climbed 5.6% and 7.4%, respectively. 
 Read more: <a rel="" href="https://crypto.news/loom-network-ontology-simons-cat-lead-as-bitcoin-stalls/"> Loom Network, Ontology, Simon’s Cat lead as Bitcoin stalls </a>

POPCAT hits all-time high as market cap surges past $1b

crypto.news

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