The Popcat price has slumped 39% in the last 24 hours to trade at $0.2845 as of 7:20 a.m. EST on an 11% plunge in trading volume to $74 million.
The steep plunge made POPCAT the biggest loser among major meme coins by market capitalization, with Ponke and Mog Coin in second and third place, respectively.
Popcat Price Analysis: Bears Break Below The Bearish Channel
Popcat continues its downward trend, falling from the $1.0392 resistance level. The struggle for price control has also led to the formation of the bearish channel, which supports further bearish moves.
The bearish momentum has also pushed the price below the bearish channel. Despite the decline, the bulls are showing resilience, driving the price up to $0.4828, indicating ongoing upward movement.
POPCATUSD Analysis (Source: Dextools.io)
The daily technical indicators paint a bullish picture for POPCAT. The price trades above the 50-day simple moving averages, suggesting a potential upward course and reinforcing positive market sentiment.
The MACD is also bullish below the neutral level line. The blue average line is also above the orange signal line. The green histogram bars also appear positive above the neutral line, indicating growing investor interest.
Additionally, the Relative Strength Index (RSI) has rebounded below the 50 midline level to 62, indicating strong buying pressure for Popcat.
Popcat Price Prediction: Is A Rebound Within Reach?
The bulls are poised to regain momentum, with signals from the RSI and the MACD indicating a possible rebound. This could help the bulls push the price up to the previous resistance level of $0.7254. If this upward movement unfolds, it could propel the price to the significant milestone of $1, marking a notable recovery in its market value.
However, if POPCAT struggles to surpass this key resistance, it could face a downturn. In that scenario, the $0.2289 level would become a crucial support point to cut the bulls.
A Promising Alternative: Could This Layer 2 Meme Coin Explode?
Given the uncertainty and volatility surrounding the outlook for the Popcat price, investors might consider diversifying into the layer 2 token Pepe Unchained ($PEPU).
It’s one of the year’s top-performing ICOs and because it’s still in presale it’s immune to the meme coin selloff that’s currently battering the sector.
PEPU distinguishes itself from the original PEPE by having its own native Layer 2 network, thus freeing Pepe from its old, clunky Layer 1 blockchain.
It offers investors high speed, scalability, and much lower fees. PEPU aims to achieve transaction speeds 100 times faster than meme coins on the Ethereum network. Besides its improved transaction capabilities, its Layer 2 chain will also include an explorer.
PEPU also offers investors an annual staking yield of 265%.
It has attracted the attention of analysts on the 99Bitcoins YouTube channel, with more than 706k subscribers, who say PEPU has the potential to lead the next bull market and even become the top meme coin.
You can join investors who have already pumped more than $7.3 million into PEPU by buying the token for $0.0089105. Hurry if you are interested to buy because there will be a price hike in less than 2 days.
Buy PEPU here using ETH, USDT, BNB, or a bank card.
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