Popcat [POPCAT], a memecoin based on Solana [SOL], has increased by more than 200% in the past week, and readings from important indicators indicate that it might continue to rise in the near future.
At the time of publication, the altcoin was trading at $0.4385. According to CoinMarketCap's data, it surged in price by 205% over the last seven days, making it the second meme asset with the most gains during that time.
There is more to POPCAT
Significant positive feelings were verified in POPCAT's market by the orange Aroon Up Line. The indicator's value as of this writing was 78.57%.
This indicator calculates the strength of a trend and probable points of price reversal for an asset. A close proximity of the Up Line to 100 signifies a robust uptrend with the latest high being attained very recently.
Based on statistics from CoinMarketCap, POPCAT reached an all-time high of $0.4984 on April 23 and then started a 12% fall.
The meme coin's MACD line went above its signal and zero lines on April 21 and began to rise, confirming the strength of the POPCAT bulls. The token's short-term moving average seems to have increased more quickly than its long-term moving average, based on this intersection.
A change in trend from negative to positive was also observed, suggesting that the price rally will not finish.
At the time of publication, the meme coin's primary momentum indicators were set above their corresponding center lines, indicating a strong level of buying pressure. POPCAT's Money Flow Index (MFI) was 77.06 and its Relative Strength Index (RSI) was 63.43.
These indicators' values demonstrated that market players preferred accumulation to sell-offs.
Additionally, as of the time of writing, the token's Chaikin Money Flow (CMF) was rising. This indicator indicated a substantial inflow of liquidity into the POPCAT market at 0.36.
April 2024, Cryptoniteuae