The Solana-based meme coin Popcat (POPCAT/USD) has been making waves in the crypto space, with traders booking impressive profits. According to on-chain analytics platform Lookonchain, one trader executed eight profitable trades since August 20, netting over $1 million in gains. Another whale recently sold 2.66 million POPCAT, worth $3.61 million, at a price of $1.36, leaving them with 3.45 million POPCAT valued at around $4.48 million, resulting in a profit of approximately $3.96 million.
This surge in Popcat’s price has even fueled talk of a ‘cat season’ in the meme coin market. Cat-themed meme coins like Popcat have been outperforming their dog-themed counterparts, like Dogecoin and Shiba Inu.
While Popcat has experienced a 12.3% drop over the past 24 hours, analysts remain bullish on its potential. Crypto trader Posty noted that a pullback to the buy zone could be a good opportunity to enter the market. Other traders are targeting buy zones below $1.
The influence of meme coins will be a key topic of discussion at Benzinga’s upcoming Future of Digital Assets event on November 19. The event is expected to delve into the evolving landscape of meme coins and their impact on the crypto market.
With traders capitalizing on Popcat’s gains and analysts predicting further upside, it remains to be seen how this feline-themed meme coin will fare in the coming months.
