- POPCAT has traditionally surged with every itemizing
- Will Kraken’s addition proceed this development, or will market volatility intervene?
Solana [SOL]-based memecoin POPCAT has surged by 20% in 7 classes, hitting $0.6633 at press time. Kraken’s upcoming itemizing, introduced on X (previously Twitter), aligns with the FOMC price minimize resolution. Therefore, it may be anticipated to amplify POPCAT’s visibility and worth.
This additionally raises a big query – May this itemizing function a catalyst for POPCAT to hit its subsequent all-time excessive?
Listings have boosted POPCAT earlier than
Traditionally, POPCAT has been listed on KuCoin, Bybit, and OKX. Whereas listings normally bridge ask and bid orders, the chart beneath highlights their substantial influence on the value motion too.
Bybit, the 4th largest spot trade with a $4 billion in each day quantity, listed POPCAT on 21 June. The day earlier than the itemizing, POPCAT examined its $0.22235 help degree. Nevertheless, regardless of bearish stress, it surged to $0.60 in per week.
Surprisingly, Bitcoin noticed a powerful downward swing over the identical interval, dropping beneath $60k two weeks after testing the $70k ceiling.
Briefly, Bybit’s itemizing acted as a catalyst for POPCAT, which surged by over 160% regardless of broader market volatility. Inside a month of the itemizing, POPCAT almost examined the $1 excessive vary, closing at $0.99997.
One thing comparable occurred when Binance listed POPCAT on the Futures market. The token’s value soared from $0.58 to $0.75 inside simply three days.
Moreover, the OI surged from $2.40M to $14.85M in 20 days – A 518% enhance. Moreover, the whole OI rose from $38M to $62.44M.
And but, regardless of Futures merchants’ curiosity mirroring July’s ATH, the value influence fell brief this time.
Can Kraken’s itemizing assist POPCAT attain $1, or will volatility hinder its progress?
Time will inform
Regardless of Kraken’s announcement, POPCAT stays susceptible to Bitcoin’s downturns, as evidenced by its late August drop. As memecoins depend on group help, their social efficiency is essential.
After a bearish begin to September, POPCAT’s social quantity has surged, reflecting the announcement’s influence. Its quantity, at press time, was approaching early July ranges and aligned with a 12% hike from its earlier day’s shut.
Learn POPCAT Worth Prediction 2024-25
Right here, it’s value reiterating that the timing of POPCAT’s itemizing is crucial too, aligning with the FOMC assembly date. Whether or not by coincidence or design, stakeholders will intently monitor each occasions, which may have an effect on POPCAT’s efficiency.
At the moment, the $0.70 ceiling is essential. If it’s examined, it may bolster the chance of POPCAT hitting $1, relying on how these occasions unfold.