- Price Growth and Futures Interest
- Exchange Activity and Investment Examples
- Ownership Structure Analysis and Technical Risks
The meme token Popcat continues its rapid rise, receiving strong support from traders and investors. Statistics show a significant increase in open interest in futures and trading volume.
Price Growth and Futures Interest
The popular meme token Popcat rose by 13% on September 12th, reaching an intraday high of $0.6812, its highest since August 29th. The token is up more than 152% from its lows last month. Futures market data show that open interest is also in a strong uptrend, reaching $63 million.
Exchange Activity and Investment Examples
Trading volume on exchanges is also rising. Data shows volume reached $139 million, the highest since August 24th, indicating strong demand for the token. For example, a major investor swapped $800,000 worth of Dogwifhat for Popcat and then exchanged his Solana for the token. Another trader started a dollar-cost averaging strategy worth $4 million.
Ownership Structure Analysis and Technical Risks
Popcat has a widely decentralized ownership structure with over 49,000 holders. According to CoinCarp, the top 10 holders control only 15% of the tokens, making manipulations more difficult. However, a "head and shoulders" pattern is forming on the 4-hour chart, indicating a possible deep correction in the near term.
Popcat's growth and high investor interest continue despite technical risks. The decentralized ownership structure and active trading make Popcat an interesting subject to watch in the meme token market.
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