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- The POPCAT meme coin rebounds, gaining investor interest amid a bearish market.
- POPCAT outperforms dog-themed tokens, setting new milestones in July.
In the middle of a bear market, the cat-themed meme coin POPCAT has risen to prominence, becoming one of today’s top gainers and setting a new “paw” record for itself.
At the time of writing, the token is trading around $0.6776, having increased by 8.71% over the last 24 hours, with a daily trading volume of $72.25 million, up 29.28%. This gain comes after a recent fall, which prominent crypto analyst Cold Blooded Shiller has closely tracked.
Potential Rebound Identified by Analyst, Spark Optimism for POPCAT
In a tweet, this analyst offered a three-day chart that identified a potential support area as a critical rebound point. As of present, the price of POPCAT has bounced off this area, continuing its upward trend, with proponents seeing $1 as the next bull target to be met.
All of the lows now cleared for $POPCAT down into the $0.60s.
The markets are still shaky but imo some of these zones just make RR sense to be interested – it's all about simplicity. https://t.co/8BQDL5Wawm pic.twitter.com/UC89smt7oc
— Cold Blooded Shiller (@ColdBloodShill) August 1, 2024
The cat-themed meme coin has built its own fan base, particularly after outperforming many dog-themed tokens like SHIB, DOGE, and WIF.
CNF previously highlighted the token’s success, highlighting a phenomenal increase of more than 22,000% over the course of the year. POPCAT performed admirably just in July.
As we previously noted, the token’s value has increased by more than 230% in the last month, generating significant investor interest. During that time, POPCAT followed in the footsteps of other cat-themed tokens like MEW, driving market value to rise and attracting increased investor attention.
The performance of such meme coins continues to enthrall the cryptocurrency world, providing both excitement and considerable potential for those prepared to handle market volatility.
