POPCAT Listing on Binance, Whale Buys 10 Million Tokens

Bobby Cirus

POPCAT Listing on Binance, Whale Buys 10 Million Tokens

On August 22, 2024, Binance, the world’s largest cryptocurrency exchange, announced the launch of the Solana-based meme coin Popcat (POPCAT) perpetual contracts. Following this announcement, a crypto whale raised 39,816 SOL worth $5.73 million on Binance and purchased nearly 10 million POPCAT tokens.

Whale buys POPCAT amid listing announcement

These crazy buy signals indicate that POPCAT could witness a significant rally in the coming days. At the time of writing, it is trading around $0.574 and has seen a price increase of over 32% in the past 24 hours. Meanwhile, POPCAT’s trading volume has increased by 225% in the same period, indicating increased participation from traders following the listing announcement.

Additionally, open interest has increased by 35% in the past 24 hours, indicating growing interest from investors and traders, according to on-chain analytics firm CoinGlass.

POPCAT Price Prediction for August 2024

According to expert technical analysis, POPCAT looks bullish and is now heading towards a crucial resistance level of $0.643. However, the last time POPCAT reached this level, the price dropped by more than 40% and fell to the $0.38 level.

Source: Trading View

This time the sentiment for POPCAT is bullish and the daily chart is forming a bullish double-bottom price action pattern. If it closes a daily candle above the $0.69 level, there is a high chance that it can rise by 40% to $1 or even higher.

High level of liquidation

According to CoinGlass, key liquidation levels are currently around $0.542 on the downside and $0.60 on the upside as traders have been using high leverage over the past 24 hours.

If sentiment remains unchanged and price rises to the $0.60 level, nearly $672.84K worth of long positions will be liquidated. Conversely, if sentiment changes and POPCAT price drops to the $0.542 level, nearly $1.34M worth of short positions will be liquidated.


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