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- POPCAT trading volume surged 40.01%, with derivative activity leading on Binance and Bybit.
- Analysts predict $6.82 potential by 2025 as POPCAT shows solid signs of market recovery.
The recent CoinGlass data indicates a rise in activity across many exchanges, confirming POPCAT’s status as one of the most sought-after meme tokens by investors this month.
POPCAT’s trading volume rose 40.01% during the past 24 hours to reach $857.79 million overall. Open interest (OI) meanwhile also grew 3.59% to reach $251.53 million. The futures market drove much of this increase in trading volume; Binance led with $344.95 million, followed by Bybit at $245.60 million and OKEx with $82.60 million.
For the spot market, Bybit noted the most net inflow of $1.1 million, while Kraken noted the biggest net outflow of $230.55 thousand.
Moreover, the 2.1437 Binance POPCAT/USDT long/short ratio shows that long positions rule trading this token. It means traders have great faith, based on this data, that POPCAT’s price will keep rising in the short to mid term.
Murad Sees Bright Future for POPCAT
Murad Mahmudov, a well-known memecoin enthusiast, also expressed opinions on the development of POPCAT. He claims that this token is now exhibiting notable signs of recovery from its lowest point.
“I believe POPCAT has finally bottomed,” Murad added.
He underlined three important signs: significant volume of capitulation, recovering from the past low price, and price swings starting to cross the diagonal resistance.
I believe $POPCAT has finally bottomed
1. Massive Capitulation volume
2. Reclaim of the previous low
3. Flirting with the breaking of diagonal resistance$5B medium-term target remains intact
$25B long-term target remains intact pic.twitter.com/y5jhXwjUsX— Murad 💹🧲 (@MustStopMurad) January 22, 2025
Murad still keeps hope for the long-term aim of $25 billion for POPCAT’s market cap and the mid-term target of $5 billion. Based on the image he shared, after surpassing the downtrend line, the movement of this token aims only upward to establish a new all-time high (ATH) price.
Starting in December 2023 with an initial price of over $0.01972, the token had a steady initial phase before reaching an all-time low of $0.003797 on January 5, 2024. But from late February, the token has had amazing momentum, rising $0.351379 in March and surpassing the $1 mark in late September. Having an ATH price of $1.81, it peaked on October 29, 2024.
Gemini also revealed last November the addition of POPCAT on its platform, which has raised awareness of the token among institutional and retail investors, therefore distinguishing it from many other meme tokens Gemini does not look at.
Meanwhile, POPCAT is swapped hands at about $0.5747 at the time of writing this post; with a market cap of $560 million, the token was showing a 6.92% growth over the last 24 hours.
Depending on the major state of the crypto market, analysts estimate that the token might reach $2.86 this year and, on the optimistic target, up to $6.82 by the end of 2025.
