Solana meme coin Over 20% Popcat rises after Binance futures

Binance implemented perpetual contracts for Solana-based meme currency POPCAT.

KuCoin also featured POPCAT/USDT on its spot market.

POPCAT rose over 20% after both exchange listings.

With technical indications showing the meme coin is overbought, it may correct.
On Thursday, Binance offered perpetual contracts for Solana meme currency POPCAT with up to 75x leverage. The listing allows Binance's large user base to leverage POPCAT's price. Such ads sometimes boost bitcoin prices.

KuCoin exchange added a POPCAT/USDT trading pair following Binance's announcement, enabling users to deposit and trade tokens on its spot market.

Lookonchain data shows a whale withdrew $5.73 million of SOL from Binance to buy POPCAT after these developments.

POPCAT rallies but may correct.
Positive developments boosted POPCAT's price by over 22% in 24 hours. The action suggests exchange-wide POPCAT buying pressure.

Meme coin social volume rose from 7% to 53% on Thursday. Despite increasing prices, social volume shows strong investor mood, yet overconfidence might cause a reversal.

POPCAT may encounter resistance at $0.7132 on the 4-hour chart. The 100-day SMA may stop meme coin price growth.

RSI just entered overbought at 69.7. Price correction is likely after such a move. The %K and %D lines of the Stochastic Oscillator (Stoch) are also over 80 in the overbought range.

A price correction might drop POPCAT by over 30% to find support.

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