- POPCAT hit new ATH and could move higher if traction increases.
- A trading manager predicted that POPCAT could flip FLOKI.
Since September, cat-themed memecoin Popkat [POPCAT] has demonstrated exemplary outperformance within its sector.
Over the past 30 trading days, it rose +120%, eclipsing the rest of the sector, including dog hat [WIF]that was in power in the first half of 2024.
Source: CoinMarketCap
That said, some community members believe that POPCAT could maintain traction amid renewed speculative interest and even surpass Floki [FLOKI].
Popcat is going to turn Floki?
According to Andrew Kang of Mechanism Capital, POPCAT has been one of the biggest beneficiaries of the recent capital shift into memecoins. He said,
“Popcat appears to be one of the beneficiaries of these capital flows – now in price research. We are ready to join the four greats of this cycle: BONK, WIF, PEPE, FLOKI.”
For his part, Joshua Kang, head of trading at Mozaik Capital, was confidently that POPCAT FLOKI could turn around.
“Popcat is going to take out Floki.”
For context, Popcat showed unique and tremendous traction during the market recovery in September. It was the first altcoin to reach a new ATH during that period.
Moreover, with greater leverage for the memecoin on Binance, Kang claimed that POPCAT could be the ‘DOGE of CAT’ that outperforms the sector.
The memecoin sector is the best performing story YTD (year-to-date). According to analyst Murad Mahmudov, that is the sector dominance could extend to 2025.
At the time of writing, POPCAT was the 7th largest memecoin by market capitalization, just below FLOKI. POPCAT’s recent rally has reached the billion dollar mark. The market size was $1.18 billion, while FLOKI was $1.26 billion.
This weekend Coinglass facts showed that POPCAT ranks higher versus FLOKI in terms of trading volume and open interest rates (OI).
This illustrated that POPCAT enjoyed more speculative interest than FLOKI. If the trend continues, POPCAT could turn around FLOKI.
That said, at the time of writing, POPCAT was valued at $1.2 and was in a price discovery. In the short term, the most important levels must be achieved watch were $1.1 and $1.4.