If other memecoins start to decline, it could present the right opportunity for POPCAT to attract liquidity and set the stage for a potential new ATH.
With a $1 billion market cap, it failed to gain traction after a sharp weekly drop of over 10%.
Analysts at AMBCrypto are questioning whether this correction was a strategic shakeout of weak hands, potentially setting up POPCAT for another ATH attempt. While this shakeout might set the stage for POPCAT to achieve a new ATH by the end of this cycle, the increasing dominance of its rivals could pose a significant hurdle.
To capitalize on POPCAT’s potential recovery from its slump, traders need to carefully monitor the memecoin market. However, a significant roadblock is still acting as resistance on the charts.
POPCAT has fallen by over 10% over the past week, resulting in a healthy shakeout of weak hands. Popcat [POPCAT] is a Solana-based memecoin that started October strong, nearing a new ATH of $1.5. This recent decline may have been triggered as the coin hit its new high, leading weaker hands to exit the cycle.
