Popcat Sees Over 10% Weekly Surge, Whales Take Profit

Popcat (POPCAT) has surged more than 10% in this week, and whales are now taking profits.

An early POPCAT holder reappeared from an extended break to transfer ten million tokens valued at $3.15 million through Bybit as POPCAT prices drastically increased.

Whales Dumping Solana for Memecoins

The crypto whale made its first significant move on December 14 when it got 9.27 million POPCAT tokens by exchanging 350 SOL with a market value of $24.5K.

Since their recent transaction, the whale maintains a reduced holding of 1.173 million POPCAT tokens, currently representing $404K.

The profit achieved by the whale during this transaction phase amounts to $7.32 million after realizing 633% returns from less than 1.173 million POPCAT tokens.

The move by large owners takes profits and could amount to price fluctuations.

Whale Portfolio Insights and Implications

The whale possesses 8.62 million FARTCOIN alongside his or her POPCAT portfolio, which amounts to a value of $4.17 million.

The value of FARTCOIN increased by 22%, leading to a market gain of $746,000.

The action of whales acts as an early warning signal, but the charts suggest a different feeling.

After holding steady for some time, the one-hour POPCAT chart demonstrates signs that bulls may take control soon.

It currently trades at $0.2959 with a 2.97% growth pattern, which indicating a brief short-term upward trend.

The price structure demonstrates a rising trend because it shows higher highs and higher lows. However, it faces market indecision during retracement periods.

The Exponential Moving Averages function as essential indicators to evaluate trend conditions.

At the current price of $0.2959, the 50 EMA functions as a vital resistance barrier, but 100 EMA shows support at $0.3087.

The current price position creates a potential opportunity for a bullish crossover to indicate continued upward movement.

The cross of the 50 EMA above the 100 EMA will reinforce positive market sentiment leading to additional upward movement.

Price sometimes pulls back momentarily after facing rejection at this holding band.

The trading volume remains weak based on the Volume Oscillator reading of -8.92%, indicating a downward trend in market activity.

This demonstrates the lack of substantial market belief in the current price increase.

The bullishness of a price breakout depends heavily on rising volume because rising prices and rising volume create a powerful bullish confirmation.

Yet, declining volume leads to either side-bound or corrective Popcat price movement.