YEREVAN (CoinChapter.com) — After months of struggling to pass the $1 threshold, Popcat finally surged to $1.08 then back to $1.01. This upward movement pushed the Popcat market cap beyond $1 billion, a notable achievement for the Solana meme coin. The increase in market cap results from the combination of the Popcat price and the circulating supply, which remains stable.
Though the Popcat price briefly pulled back, the overall rise still reflects strong performance. As long as the supply stays consistent and the price rises, Popcat’s market cap will follow.
Popcat (SOL) Price Surge to $1.01.Source: CoinMarketCap Popcat Open Interest Reaches New High
Along with the price surge, Popcat’s Open Interest (OI) also reached an all-time high of 93.52 million. Open Interest measures the number of outstanding contracts in the market and serves as a key indicator of market activity. An increase in OI generally suggests that new money is entering the market.
Popcat Open Interest Chart. Source: Santiment Technical Indicators Show Potential Price Changes
Technical analysis shows signs of increased volatility in the Popcat price. The Bollinger Bands (BB), which measure price fluctuations, have expanded as the price touched $1.08, suggesting that Popcat is currently overbought.
Popcat Price Analysis. Source: TradingView
Additionally, the Relative Strength Index (RSI) for Popcat has climbed above 70, further confirming that the token is overbought. The RSI is a technical indicator used to assess whether an asset is overbought or oversold. When the RSI rises above 70, it indicates that a price correction may occur.
The Popcat price could see a decrease to $0.90, and if selling pressure intensifies, the price could drop further to $0.76.
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