The Popcat price faces the risk of major downside volatility, despite the bullish strength in Bitcoin and other large-cap altcoins.
The Solana meme coin is down by more than 10% on Wednesday, with some Popcat price predictions forecasting a sharp decline below $1.
Top meme coins are facing stiff competition from their low-cap alternatives. For instance, new meme coins like FLOCK, STARS and GOAT are stealing the spotlight, with some prominent investors backing them as the best crypto to buy now.
Popcat Price Prediction – Buy The Dip?
Large-cap altcoins and top meme coins like Dogecoin are riding BTC’s bullish momentum. The Bitcoin price has breached the upper trendline of a multi-month descending channel and is now attempting to flip the $68k resistance.
Analysts claim that there isn’t much resistance in BTC’s path to new all-time highs once it secures a weekly close above $68,250.
#Bitcoin needs to break $68,250 and then I don’t see much resistance in the way of new All Time High. pic.twitter.com/TArXhAuOI0
— Nebraskangooner (@Nebraskangooner) October 16, 2024
Despite the bullish outlook, the Popcat price is facing major downside volatility.
POPCAT reached a new all-time high of $1.53 on October 12th. However, with its daily Relative Strength Index entering ‘Oversold’ territory, it has since corrected by more than 20%, trading at $1.23 at press time.
The POPCAT price predictions from prominent crypto analysts have also turned bearish.
For instance, Nebraskangooner signals a descending triangle breakdown in the 4-hour time timeframe, which could result in a dip below the $1.20 mark.
$POPCATAlready breaking intra-day lows and pushing towards that triangle breakdown target zone https://t.co/P6rFhiMVcE pic.twitter.com/up5litRI6C
— Nebraskangooner (@Nebraskangooner) October 15, 2024
Similarly, the top Bybit trader Bluntz highlights a bearish divergence in the daily Popcat price chart. This coincides with a double rejection from an ascending trendline, which could result in a steep decline.
Another trader Blunted Beats is making substantial profit with his POPCAT short positions and sees the Solana meme coin potentially slide below the $1 mark.
POPCAT’s technicals are also painting a grim picture. For instance, key oscillator indicators – including the MACD Level (12, 26) and Momentum (10) – are flashing “Sell” signals in the daily timeframe, data from TradingView reveals.
Simply put, sidelined investors could wait for more downside volatility, which will likely result in a better entry. For instance, they could wait for a test of the 200EMA level in the 4-hour chart, which is currently hovering at $1.08.
Smart Money Investors Buy FLOCK, STARS For 100x Returns
Popcat is a large-cap meme coin, with its $1.2 billion market capitalization. It could be too late to earn outsized returns from it, even when the meme coin resumes its bullish trajectory.
Instead, smart money investors appear to be stacking low-cap meme coins like STARS.
Crypto All-Stars is a new high-utility meme coin, which has already raised nearly $2.3 million in presale funding behind large whale investments.
In light of the upcoming meme coin supercycle, the meme coin is positioning itself as a “must-have”. For instance, it is launching a multi-chan staking protocol MemeVault, which will accept up to 11 meme coins and offer attractive passive income to stakers.
STARS holders will earn thrice the rewards.
Similarly, an innovative vote-to-earn meme coin Flockerz (FLOCK) is in high demand.
The project puts the steering wheels in the hands of its holders through the Flocktopia DAO. They can vote on key issues including marketing strategies and exchange listings, while earning attractive monetary rewards for it.
Flockerz also has a native staking pool, which is currently offering an APY of over 2300%.
Owing to its unique value proposition, it is no surprise that the FLOCK presale has already raised nearly $750k in just a few weeks.
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Source: https://cryptodaily.co.uk/2024/10/popcat-price-prediction-after-10-dip-good-entry-or-more-downside-coming