POPCAT Price Skyrocket 96% in 7 Days

Bittime - Popcat cryptocurrency experienced a significant price spike in the last week. This increase is in line with the bullish trend currently occurring in the crypto market as a whole.

Popcat's price increased by 95.7% in seven days, rising from $0.393 (Rp. 6,064) on August 19 to a peak not seen since July 30. 

However, in the last 24 hours, this asset has decreased by 6.2%, currently trading at $0.7027 (around Rp. 10,900).

What really catapulted this meme coin? How can it rise so significantly in the last few days? Check out the explanation in this article!

Factors Causing Popcat Prices to Soar

This price surge has increased Popcat's market capitalization to more than $735 million (Rp. 11,332 billion), making it the 102nd largest cryptocurrency by market capitalization. Its daily trading volume has reached around $76.4 million (Rp. 1,182 billion).

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One of the main factors behind this price increase is the listing of Popcat's perpetual contract on Binance Futures, which offers up to 75x leverage, as announced by the exchange recently.

Popcat Price Analysis

Source: Bittime

Currently, Popcat price is above the middle Bollinger Band at $0.5595 (Rp 8,642), indicating a bullish move from lower levels. However, the price is still below the upper Bollinger Band which is set at $0.7897 (Rp. 12,195). 

This suggests that there is still room for upward movement before facing significant resistance.

The width between the lower Bollinger Band at $0.3292 (Rp. 5,088) and the upper Bollinger Band at $0.7897 (Rp. 12,195) indicates moderate market volatility. 

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The current price approaching the upper Bollinger Band but not touching it may indicate that although the price has recovered from lower levels, it has not yet reached overbought conditions, thereby allowing room for further upward movement.

The +DI line is at 27.7603, which is higher than the -DI line at 15.9105. This shows that the buying pressure is currently stronger than the selling pressure.

The DMI setup underscores the ongoing positive sentiment as +DI remains dominant over -DI, ​​in line with the bullish signal from Bollinger Bands. 

Keeping these indicators in mind, traders may be looking for potential buying opportunities, anticipating a test of the upper Bollinger Band at $0.7897 (Rp 12,195) in the near term unless new market dynamics emerge that change the current trend.

The RSI value is at 62.73, which is well above the neutral threshold of 50 but still below the typical overbought marker of 70. This indicates strong upward momentum without straying into overbought territory, indicating that even though the market is strong, there is still potential room for price to rise. up before it gets too wide.

How to Buy Crypto on Bittime

You can buy and sell crypto assets easily and safely via Bittime. Bittime is one of Indonesia's best crypto applications, officially registered with Bappebti. 

To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also ensure you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. Study Complete Guide How to Buy Crypto on Bittime. 

Monitor graphic movement of Bitcoin (BTC) price, Ethereum (ETH), Solana (SOL), and other cryptos to find out today's crypto market trends in real-time on Bittime.