POPCAT listing on Binance, WELL buys 10 million tokens
In the year August 22, 2024 Binance, the world's largest cryptocurrency exchange, announced that Solana-based meme coin Popcat (POPCAT) will launch perpetual contracts. Following this announcement, a crypto whale withdrew 39,816 SOL worth $5.73 million from Binance and bought about 10 million POPCAT tokens.
Whale purchase POPCAT among the list of ads
This frenzy of buying indicates that POPCAT is likely to experience a significant rally in the coming days. At press time, it was trading around $0.574, up more than 32% in the last 24 hours. Meanwhile, POPCAT's trading volume increased by 225%.
In addition, open demand has increased by 35 percent in the past 24 hours, indicating growing interest from investors and traders, according to CoinGlass, an on-chain analyst firm.
POPCAT price forecast for August 2024
According to expert technical analysis, POPCAT looks bullish and is now heading towards the critical resistance level of $0.643. However, the last time POPCAT reached this level, it experienced a price drop of more than 40% to $0.38.
At this point, the sentiment for POPCAT is bearish, and the daily chart is forming a double-bottom price action pattern. If a daily candle closes above $0.69, there is a high probability of a 40% rally to $1 or more.
Main fluid level
Currently, the main liquidity levels are close to $0.542 on the lower side and $0.60 on the upper side as traders have been heavily leveraged in the last 24 hours according to CoinGlass.
If the sentiment doesn't change and the price rises to the $0.60 level, about $672.84K worth of the long position will be lost. Conversely, if the sentiment changes and the POPCAT price falls to the $0.542 level, approximately $1.34 million worth of short positions will be lost.
