POPCAT hit a new record high this week, up 31% in the last 24 hours. The Solana-based meme broke through the $1 resistance level, setting a new ATH at $1.29 after struggling to break above it all week.
POPCAT/USDT Daily Chart | Source: TradingView
The impetus for this sudden surge is still unclear, but if POPCAT investors avoid selling, the coin could continue its uptrend. This could lead to the formation of a new high, further boosting market sentiment.
However, if profit-taking occurs, it could halt the rally and push the price down to $1. Losing this important support level would invalidate the bullish outlook.
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