Solana’s POPCAT Sees 220% Gains, Soars Past $800M Market Cap

Originating from a 2020 internet meme featuring a cat named Oatmeal, POPCAT has made a notable comeback on Solana’s blockchain. This feline-themed coin has achieved an all-time high as analysts eye a potential $1 target, despite being absent from major exchanges.

The Solana blockchain has seen a wave of meme coins, many of which are animal-themed. POPCAT stands out with an impressive 220% gain over the past 30 days. Paying homage to the beloved internet meme, the coin has a capped supply of 979,978,694 tokens, comparable to Dogwifhat (WIF), which has a slightly higher max supply of 998,926,392.

Recently, POPCAT’s market cap surged past $800 million, propelling it into the TOP 100 ranks of the crypto market. On July 17, 2024, the coin saw a 40% increase, reaching a new all-time high of $0.911.

Crypto enthusiasts on X have drawn parallels between POPCAT and WIF, a successful meme coin that peaked at $4.83 in March. The rising demand for POPCAT in derivatives markets indicates significant interest, with a 60% increase in Open Interest (OI). Additionally, the trading volume has risen by 80% to $174.7 million, according to CoinGecko data.

However, despite favorable metrics, POPCAT remains unlisted on several major exchanges, including Binance, KuCoin, and OKX. Currently, it is available on Bybit in the ‘Adventure Zone,’ reserved for volatile digital assets.

The success of meme currencies like POPCAT underscores their profitability in 2024, outshining other emerging sectors such as Real World Assets (RWAs) and Artificial Intelligence (AI).

Disclaimer: Web3Buzz in any form does not endorse or promote the crypto token POPCAT. Always do your own research before investing in any crypto assets.