Crypto Express

07/15 05:03

Popcat’s $100 mln volume spike

Popcat’s $100 mln volume spike and whale buy-up: Is $0.45 near?

Popcat jumps 12.89% to $0.41 as whales add 1.21 million tokens while retailers exit, raising correction risks.

Popcat soared 12.89% to a monthly high of $0.41 before retracing to $0.39. At the same time, whales increased their holdings by 43.57% to $634.09 million.

Popcat [POPCAT] soared 12.89% bouncing off its recent low of $0.34 to a monthly high of $0.4117, then retraced to $0.39 by press time. 

Over the same period, the memecoin’s trading volume hiked by 76.23% to $100 million, reflecting growing on-chain activity. 

According to analysis, Popcat recorded significant gains amid aggressive whale accumulation. 

For the uptrend to hold, whales must continue accumulating at the same speed. In such a case, demand from large entities will push Popcat towards $0.45.

However, if retailers exiting the market increase pressure while whale momentum fades, a correction is inevitable. Thus, increased profit taking from retailers will push Popcat down towards $0.35 support.

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