POPCAT Price Sets Up Date For 369% Gains As Whale Attention Spikes.
NOIDA (CoinChapter.com)—Popcat price has recently experienced relatively flat price action, with low volatility and trading volume, causing uncertainty among investors regarding its next major move.
However, a whale transaction involving Moodeng tokens could act as the bullish cue Popcat needs to break out of its current consolidation phase.
Whales Buying POPCAT Tokens
The transaction involved one of the top 40 holders of Moodeng coins initiating a Dollar-Cost Averaging (DCA) sell-off of 4.94 million tokens, valued at approximately $245,000, and converting this sum into Popcat.
A whale bought $POPCAT tokens by the buckets.
The sell-off occurred through 12 transactions, each executed three minutes apart, indicating a well-planned accumulation strategy rather than a spontaneous trade.
Whale activity of this magnitude can often serve as a market signal, especially when the funds are directed toward a specific token like $POPCAT. In this case, the whale’s decision to invest heavily in Popcat implies confidence in the token’s future performance.
Such large-scale purchases tend to increase buying pressure, improve liquidity, and attract more investor attention, leading to potential upward price movement. Additionally, other traders might see this transaction as a bullish signal and follow suit, further fueling demand.
Given the scale and systematic nature of the purchase, this whale transaction appears to be a bullish indicator for Popcat. The influx of capital and increased attention from the market could provide the momentum necessary for Popcat to push higher in the short term.
POPCAT Price Testing Bullish Pattern Resistance
Meanwhile, the POPCAT USDT pair has formed a bullish technical setup called the ‘ascending triangle.‘
The memecoin is currently testing the pattern’s upper trendline, and some bullish cues would be needed to break it out.
The POPCAT USDT pair formed a bullish setup with a 369% upside target. Source: Tradingview
The pattern occurs when a horizontal resistance line connects swing highs while an ascending trendline links higher swing lows. This setup suggests increasing buying pressure as the price approaches the resistance level.
The ascending triangle formation indicates that buyers are gaining strength, and a successful breakout could lead to further upward momentum for the token. Moreover, the technical setup provides a clear framework for assessing potential price movements in the near term.
Per the rules of technical analysis, measuring the triangle’s height and projecting it from the breakout point gives the pattern’s price target. This calculation suggests a price target near $4.3 for the POPCAT coin price, a spike of 369% from the current level.
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