POPCAT Price Prediction For February 9, 2025
This has been a downside for the popular Solana meme coin (Popcat) over the past few weeks, but now looking at the current price action, market sentiment seems to be shifting. As of February 9, 2024, Popcat is attracting major attention from crypto enthusiasts and is expected to gain a huge upward momentum as of today.
40% of Popcat’s rally
Popcat is currently trading at close to $0.305, experiencing over 40% price gains over the past 24 hours. This massive upward rally shifted current price action to the bullish side, thus engaging significant involvement from traders and investors. As a result, the volume of meme coins traded soared 38% over the same period.
This involvement not only follows a huge price surge, but also after the price reaches a bullish breakout level.
Popcorn technical analysis and upcoming levels
According to Expert Price Action, Popcat successfully formed a bullish long-term wedge price action pattern over the daily time frame and is currently on the verge of breaking through. In the recent price drop, the meme coins have lost several key support levels, including $1.12, $0.70 and $0.30.
However, with a 40% uptrend, the meme coin appears to have returned to support levels and is expected to gain a bullish breakthrough.
According to recent price action, if the explosion maintains this gain, violates this pattern, and closes daily candles above $0.40, the meme coin could soar 80% to reach $0.70 $1.12 and future level.
As of now, meme coins are trading below the 200 moving average (EMA) in the daily time range, indicating that it is in a downward trend.
$2.15 million popcorn flows in
Through this bullish price action, some whales and long-term holders have been transferring their holdings to the exchange, as Chain Analytics reported Small shop. Data from spot inflows/outflows suggest that exchanges throughout the cryptocurrency environment witnessed the inflow of popcorn meme coins worth over $2.15 million, indirectly suggesting profitable bookings for potential potential sale.
However, the inflow of exchanges after the rally could create sales pressure and further price drops, although the market response is not much, which also hints at the sustainability of traders and investors.
