Popcat (POPCAT) is grabbing attention with an impressive price surge in a short time. This jump has outpaced well-known meme coins like Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE), making POPCAT one of the top performers in the meme coin market. Let’s take a look at this POPCAT price article in more detail.
How has the POPCAT Price Moved Recently?
The current price of Popcat (POPCAT) is $0.890916, with a 24-hour trading volume of $615.55 million and a market cap of $873.08 million, giving it a market dominance of 0.04%. In the last 24 hours, POPCAT’s price has surged by 30.33%.
Popcat hit its all-time high of $1.00177 on July 21, 2024, while its lowest point was $0.004106 on January 6, 2024. Since reaching its ATH, the lowest price was $0.264045 (cycle low), and the highest since then was $0.897733 (cycle high). Market sentiment for Popcat remains bullish, and the Fear & Greed Index is currently neutral at 49.
Popcat’s circulating supply stands at 979.98 million out of a maximum supply of 420.69 trillion POPCAT.
Why is POPCAT Price Up?
The recent 50 basis point (bps) interest rate cut by the US Federal Reserve on September 18 has sparked significant market activity, benefiting assets like cryptocurrencies, including Popcat (POPCAT). This aggressive rate cut, which is rare, signals a shift in monetary policy aimed at stimulating the economy by making borrowing cheaper.
With easier access to credit, investors often turn to riskier assets like meme coins and other cryptocurrencies, seeking higher returns. As a result, the demand for POPCAT has surged, contributing to its price jump.
Historically, lower interest rates have fueled investment in speculative assets, with a similar trend observed in late 2021 when crypto markets peaked after a period of monetary loosening. With the Fed now recalibrating its approach, there’s a renewed investor appetite for high-risk, high-reward assets, driving up POPCAT’s value.
If the Fed continues with this rate-cutting cycle, we could see further price increases, especially if other macroeconomic conditions favor risk-taking. However, this optimism must be balanced against potential volatility as market sentiment remains highly sensitive to Fed policy shifts.
How High Can the POPCAT Price Go?
POPCAT has shown strong momentum recently, with 15 green days in the last 30, marking a 50% positive performance over the past month. This trend, coupled with the fact that it’s trading near its cycle high, suggests that the token has built significant upward pressure. When combined with the high liquidity relative to its market cap, POPCAT’s market is poised for further growth as investors are drawn to its ease of trade and the potential for large price swings.
A key factor to watch is the extremely low percentage of POPCAT’s total supply in circulation—less than 0%. This scarcity creates a supply-demand imbalance, which could push prices higher if demand continues to increase, especially as more speculative assets gain popularity amid the Fed’s interest rate cuts.
If current market conditions remain favorable, POPCAT could break past its all-time high of $1.00177. However, any rapid increase in price might also trigger profit-taking, adding short-term volatility. Overall, a sustained upward trajectory depends on continued liquidity, growing demand, and stable macroeconomic conditions. If all factors align, POPCAT could target new highs, potentially exceeding $1.10 or more in the near term.
Source: https://cryptoticker.io/en/breaking-news-popcat-price-exploding