POPCAT eyes $0.23 breakout after 14% surge amid cooling spot volume
POPCAT, a Solana-based memecoin, jumped 14% in 24 hours, driven by large futures orders and a bullish taker CVD. The token has traded in a $0.134–$0.175 range since October, forming an accumulation pattern. A clear breakout above the $0.175 resistance could target $0.23. On-chain data shows futures traders placed whale orders, while spot volume cooled, signaling cautious buying. Bybit and Robinhood hold over 10% of supply, and the top 10 addresses control 38.1%. Liquidity clusters above $0.17 suggest a potential squeeze to $0.18. Traders should watch the $0.175 level for confirmation. Mixed momentum indicators underline the need for a strong breakout to sustain a bullish trend. POPCAT’s next move hinges on market confirmation and continued capital inflows.
Bullish
POPCAT’s 14% rally was fueled by large futures orders and a bullish taker CVD, indicating strong derivatives-driven capital inflows. Liquidity clusters above $0.17 and the accumulation pattern since October suggest building buying pressure. A breakout above the $0.175 resistance could trigger a squeeze toward $0.23, mirroring past memecoin moves where derivatives-led rallies drove rapid gains. However, cooling spot volume and mixed momentum indicators introduce caution. In the short term, traders may see increased volatility around the $0.175 level, with a clear breakout confirming bullish momentum. Long-term upside depends on sustained capital inflows and broader market support. Overall, the potential for a breakout and positive on-chain signals point to a bullish outlook, provided the $0.175 barrier is convincingly breached.