Popcat, the popular Solana-based meme coin, has experienced a surge of over 20% following its listings on Binance futures and KuCoin. Binance now offers perpetual contracts for POPCAT, allowing users to gain leveraged exposure to the coin’s price. Similarly, KuCoin has listed a POPCAT/USDT trading pair on its spot market, providing users with the ability to deposit and trade POPCAT tokens. These developments have sparked significant buying pressure, resulting in a substantial price increase for the meme coin.
However, there are some indications that a correction may be imminent. Technical indicators suggest that POPCAT’s price has entered the overbought region, with the Relative Strength Index (RSI) and Stochastic Oscillator (Stoch) both signaling potential downward movement. Additionally, the $0.7132 resistance level and the 100-day Simple Moving Average (SMA) could present barriers to further price growth. If a correction occurs, POPCAT could see a decline of over 30%, finding support around $0.3615.