Whales on the Solana network have caught the attention of the crypto community with significant meme coin purchases. These acquisitions come as Solana’s price declines, and traders monitor a key support level.
Whales Invest $18.57 Million in Meme Coins
Recent whale activity on the Solana network revealed meme coin purchases worth $18.57 million. A wallet known as “DWhUa” acquired tokens such as $WIF, $POPCAT, $FWOG, and $michi within 14 hours. These tokens were then transferred to a new wallet, “D2Noa,” suggesting a strategic trading approach during Solana’s price dip.

In 2025, meme coins remain a focus despite fluctuating interest. While the segment was widely celebrated in 2024, the market now faces saturation due to the rise of “fair launch” platforms. Established meme coins like $WIF and $POPCAT, previously boasting billion-dollar market caps, continue to hold attention. Newer tokens such as $michi and $FWOG, with maximum market caps of $500 million, remain appealing to traders even as market dynamics shift.
Solana’s Price Action and Critical Support
Solana’s price recently dropped 1.72% to $198.76, signaling a continued downtrend. A descending triangle pattern has emerged, combining lower highs and horizontal support in the $196–200 range. This zone has been repeatedly tested and is crucial for short-term investors.

The current selling pressure, marked by consecutive red candles, confirms bearish sentiment in the market. Although Solana briefly broke above the descending trendline, it failed to maintain momentum, bringing the price back to its critical support zone.
Trading volume has remained stable, indicating consistent market participation. However, if the price breaks below the $196 level, Solana could drop further, potentially targeting $160, as indicated by the lower red dashed line.
Key Insights and Market Sentiment
Meme coins on Solana continue to attract attention despite waning market interest in this segment. Recent whale purchases reflect confidence in selected tokens, while Solana’s price movements highlight a consolidation phase, emphasizing the importance of the $196–200 support zone.
Investors should closely monitor this critical area, as a breakdown could signal further downside risks. Conversely, previous failed breakout attempts indicate the potential for short-term recovery. Additionally, continued meme coin accumulation could renew interest in the Solana ecosystem and encourage traders to re-engage with the market.

#popcat , #WIF , #memecoin🚀🚀🚀 , #CryptoNewss , #MemeCommunity

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,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

Date: Wed, Jan 08, 2025, 10:44 AM GMT
The cryptocurrency market has experienced a significant downturn over the past 24 hours, with Bitcoin (BTC) falling over 5%, causing liquidations totaling $711 million, according to Coinglass. Alongside this, BTC dominance has risen to 58% from yesterday's low of 57.52%.This increased dominance has intensified the selling pressure on altcoins and memecoins, including Solana-based Popcat (POPCAT), which has seen a sharp decline.

Source: Coinmarketcap
POPCAT Hits Long-Term Support
After a steep 68% correction from its all-time high of $2.08, POPCAT has retraced to its current price of $0.66. This drop has brought the token to a key long-term ascending support trendline that has historically provided robust support during previous corrections.

POPCAT 1D Chart/ Coinsprobe (Source: Tradingview)The attached chart illustrates how this trendline has acted as a critical level during earlier significant downturns, cushioning the price from deeper losses and serving as a launchpad for bullish recoveries.
POPCAT has repeatedly followed a pattern of severe corrections, often exceeding 50% after achieving new all-time highs, only to rebound and establish fresh highs.
Currently, at $0.66, POPCAT appears to be stabilizing at this pivotal support, sparking speculation about whether history will repeat itself with another recovery from this level.
What Lies Ahead for POPCAT?
POPCAT is now showing initial signs of resilience at the long-term ascending support. If this support holds firm, there is potential for a recovery rally. Based on historical trends, such rebounds could lead to significant upward momentum, with the next key resistance levels lying around $0.97 and $1.58.
However, if the support fails to hold, further downside could be expected, with the next critical support zone identified near $0.49.
Technical indicators like the MACD are beginning to show signs of a potential reversal. The histogram has started to turn less negative, signaling a possible shift in momentum. Meanwhile, the RSI is hovering near oversold levels at 31, suggesting that selling pressure might be nearing exhaustion, which could pave the way for a bounceback.
Conclusion
POPCAT's long-term trendline support presents an intriguing opportunity for bulls, but caution remains essential. While the token's history points toward potential rebounds from similar levels, market sentiment and external factors like Bitcoin’s performance will likely play a decisive role in its next move.
Get more updates on: coinsprobe.com
Disclaimer: This article is for informational purposes only and not financial advice. Always conduct your own research before investing in cryptocurrencies.
#POPCAT #NFA

A Drop to the Support Level at $0.38
POPCAT may face an additional 42% drop, potentially reaching the critical support level at $0.38. However, this bearish scenario will only hold if the daily candle closes below the crucial $0.70 level. On-chain data revealed that exchanges recorded an inflow of nearly $1 million worth of POPCAT tokens, indicating potential selling pressure.
POPCAT's Current Market Situation
The broader cryptocurrency market is struggling after a significant price drop yesterday. POPCAT has been particularly impacted, losing more than 22% of its value in a single day. The failure to maintain a critical support level suggests further downward movement.
Technical Analysis and Key Levels
Technical analysis reveals that POPCAT has broken down from a consolidation zone that ranged between $0.70 and $0.83. This zone served as a key support level, but its breakdown signals strong bearish momentum.

Key Support Level: $0.70Next Support Level: $0.38Current Price: Below the lower end of the consolidation zone
If the daily candle closes below $0.70, the price is expected to decline further to $0.38, marking a 42% drop. Additionally, POPCAT is trading below the 200-day Exponential Moving Average (EMA), confirming the prevailing bearish trend.
Impact on Long-Term Holders
The bearish market sentiment has prompted long-term holders to move their tokens to exchanges, indicating heightened selling pressure. According to data from the analytics firm Coinglass, exchanges have recorded an inflow of nearly $1 million worth of POPCAT tokens, increasing the likelihood of further price declines.

Trading Volume and Current Status
Despite the price drop of over 18% in the last 24 hours, trading volume has surged by 21%. This increase reflects growing trader interest in the asset, even though its bearish outlook remains unchanged.
Current Price: $0.6524-Hour Price Change: -18%Trading Volume Increase: +21%
Conclusion
If POPCAT remains below the $0.70 level, there is a strong likelihood of its price dropping further to the $0.38 level. While the situation indicates elevated market activity, traders should exercise caution given the persistent bearish outlook.

#popcat , #Price-Prediction , #TechnicalAnalysis , #memecoin🚀🚀🚀 , #CryptoAnalysis

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Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“