The price of Popcat has risen by 2% in the past 24 hours, climbing to $1.38 on a day when the crypto market as a whole has fallen by the same percentage.
This outperformance of the market is in keeping with much of POPCAT’s performance since it launched last December, with the Solana-based meme token up by an impressive 36,000% since early January.
This increase has thrust POPCAT into the top-100 in terms of market cap, with the coin holding on to plenty of momentum as we enter the final couple of months of 2024.
And it’s likely that this momentum will enable it to continue outperforming the likes of Bitcoin and Ethereum for at least several months to come.
POPCAT Outperforms Bitcoin and Ethereum – Can the Meme Coin Keep Rising?
After a dip overnight, POPCAT is regaining momentum, having risen by 1% in the past hour.
Its 30-period moving average (orange) is continuing to rise further above the 200-period average (blue), a sign that the coin remains in a period of accumulation.
This also provides a sign that POPCAT’s relative strength index (purple) should return to 50 very soon and continue rising, bringing the meme token’s price with it in the next few days.
It’s also bullish that POPCAT’s trading volume is pretty high for a new meme token, at $140 million today.
The coin is still looking forward to new exchange listings, with Kraken and KuCoin being the biggest platforms that currently list it (e.g. Binance and Coinbase currently do not).
The coin has been gaining momentum on the back of increasing social media attention, with many crypto analysts and traders beginning to talk it up.
I for see 2.50$ $popcat within the next 35 days after doing technical analysis on the chart.
— gucci mane (@thecexoffender) October 16, 2024first cat to 2 billion pic.twitter.com/Nv14voBgNr
It has also proven very popular with whales, with trading data showing that they’ve made it one of their new vehicles of choice.
Based on this, it’s likely that POPCAT will continue to experience strong rallies over the coming months, especially if it gains new exchange listings.
It also helps that the cryptocurrency market as a whole is entering a more bullish, end-of-year phase, with additional Federal Reserve rate cuts likely to boost bullishness.
POPCAT will benefit from this more than most other alts, while a victory for Donald Trump – seen as a bigger friend to crypto than Kamala Harris – will also amplify prices.
In such a context, POPCAT could reach $2 by the end of November, and $2.50 by the end of the year.
New High-Return Meme Tokens with Fundamentals
The only issue with POPCAT is that it’s another meme token with no utility to support its price, particularly if whales lose interest in it.
Assuming that POPCAT is a risk, some traders may prefer to turn to new meme tokens with stronger fundamentals, with several presale coins fitting this bill right now.
One good example of this is Flockerz (FLOCK), an ERC-20 token that has raised more than $900,000 since launching its sale a few weeks ago.
Flockerz is a rare example of a vote-to-earn cryptocurrency, one which rewards holders for participating in governance votes.
Every single decision related to its development will go to a community vote, with the most active participants receiving the greatest rewards.
And as an ERC-20 coin, holders of FLOCK will be able to stake it for a passive income, in addition to their voting rewards.
This combination helps to explain why FLOCK’s sale is already attracting many investors, with the coin likely to gain more investors as its sale nears its conclusion.
It has a total supply of 12 billion FLOCK, with 20% of this going to the sale, 25% to staking, and another 25% to governance rewards.
Investors can join FLOCK’s presale by going to its official website, where they buy the coin at a price of $0.0058394.
This price will rise in just under two days and will continue rising with each new stage of the sale.
And when the sale ends FLOCK will begin listing, meaning that it could begin rallying strongly.
The post POPCAT Outperforms Bitcoin and Ethereum – Can the Meme Coin Keep Rising? appeared first on Cryptonews.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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