Popcat reaches a 4-month peak, approaching 0.50 USD? Analysis

* Popcat increases by 14.86% daily, reaching a 4-month peak at 0.47 USD.

• If demand continues, Popcat may surpass the resistance level of 0.50 USD.

In the past 24 hours, Popcat [POPCAT] has delivered a remarkable performance, surpassing most cryptocurrency assets. This memecoin has risen from a low of 0.39 USD to a 4-month high of 0.47 USD.

After reaching this level, the memecoin has seen a slight adjustment.

Currently, Popcat is trading at 0.4601 USD, recording a 14.86% increase on the daily chart. This upward trend continues on the weekly and monthly charts, increasing 18.44% and 229.31%, respectively.

In addition, the price increase indicates that Popcat is experiencing strong demand.

This demand is reflected in a trading volume increase of 58.2%, reaching 237.3 million USD. Similarly, the open interest of memecoins also increased by 10%.

The bullish signals in the derivatives market indicate strong accumulation, with buyers entering the market to take strategic positions. Therefore, the current conditions place Popcat in a position for further growth on the price chart.

Can Popcat maintain this increase for a long-term bullish trend?

According to TinTucBitcoin’s analysis, Popcat is experiencing strong upward momentum as buyers dominate the market.

First of all, Popcat has recently experienced a bullish crossover, indicating new buying pressure in the past 24 hours.

Currently, the RSI of this coin is at 69, indicating an upward trend but has not yet exceeded the “overbought” threshold of 70.

In many cases, the RSI can rise to 80 before a correction occurs, indicating that the upward momentum remains strong as demand pushes prices higher.

This trend continues to be supported by the rising RVGI, which created a bullish crossover two days ago, reinforcing the positive market outlook.

Source: TradingView

Looking further ahead, the Netflow of Popcat on Spot has turned negative after reaching a peak of 1.57 million USD.

The index is currently at -169K USD, indicating increased buying activity. Many tokens are leaving the exchange rather than entering, which is a strong sign of long-term accumulation.

As a result, buyer interest has surged, with purchase orders increasing to 29 million in the past 24 hours.

Source: CoinGlass

Investors flock to Popcat as Sharpe ratio improves

Finally, Popcat has become very attractive to investors over the past month after recording positive profits compared to volatility.

Therefore, memecoins are currently performing better on a risk-adjusted basis, with investors receiving additional returns on the risk they have accepted. Typically, an increasing Sharpe ratio indicates strong and stable performance.

This favor attracts more buyers into the market, thereby leading to higher demand.

Source: Messari

Simply put, Popcat has captured the market’s attention. The combination of momentum, demand, and improved risk-reward has turned it into a magnet for optimistic traders.

With the increase in optimistic sentiment, Popcat may soon test the resistance level of 0.50 USD. If demand remains strong and buyers overcome selling pressure, the likelihood of a breakout is very promising.

However, if the buying pressure loses momentum and there is a correction, Popcat may drop to 0.40 USD before attempting another increase.

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