In the world of memecoins, Popcat ($POPCAT) is the latest sensation, mirroring the explosive performance of WIF, which skyrocketed by 800% after its Binance USD-M listing.
With a fully diluted valuation (FDV) of $410 million, WIF set a high bar. Now, Popcat, with a $500 million FDV, seems poised to follow suit.
WIF pumped 800% after its Binance USD-M listing.
It had a $410M FDV.
Binance just announced the same type of listing to Popcat.
It has a $500M FDV.
Very interesting indeed. pic.twitter.com/WFnpahL2F5
— gumshoe (@0xGumshoe) August 22, 2024
Binance Launches $POPCAT Perpetual Contract With Up To 75x Leverage
Recently, Binance announced the launch of $POPCAT perpetual contracts with up to 75x leverage, triggering a surge of over 30% in the price of Solana’s memecoin.
🚨 JUST IN: Solana memecoin $POPCAT surged over 30% as @binance announces plans to list POPCAT perps with up to 75x leverage. pic.twitter.com/nk2Z0O1Pk3
— SolanaFloor (@SolanaFloor) August 22, 2024
This rally was further fueled by a significant whale transaction, where 39,816 SOL (approximately $5.73 million) was withdrawn from Binance to purchase 10 million $POPCAT.
Crazy buying of $POPCAT!
After #Binance announced the launch of $POPCAT perpetual contracts, a whale withdrew 39,816 $SOL($5.73M) from #Binance to buy 10M $POPCAT!https://t.co/smN6cNogIo pic.twitter.com/E3zMHy6Qoh
— Lookonchain (@lookonchain) August 22, 2024
The dual listing of $POPCAT on Binance and KuCoin, two of the world’s leading cryptocurrency exchanges, has opened the floodgates to millions of potential investors and billions in liquidity. This move significantly increases the exposure and accessibility of $POPCAT, positioning it for a potential breakout in the memecoin market.
As the memecoin supercycle continues, it’s evident that the momentum remains strong. The market for these speculative assets is far from cooling down, with $POPCAT’s rapid rise serving as a testament to the ongoing enthusiasm among traders and investors alike.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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