POPCAT Listing on Binance, Whale Buys 10 Million Tokens

On August 22, 2024, Binance, the world’s largest cryptocurrency alternate, introduced the launch of the Solana-based meme coin Popcat (POPCAT) perpetual contracts. Following this announcement, a crypto Whale withdrew 39,816 SOL value $5.73 million from Binance and bought nearly 10 million POPCAT tokens.

Whales purchase POPCAT amid promotion announcement

These loopy purchase alerts point out that POPCAT may see a major rally within the coming days. On the time of writing, it’s buying and selling close to $0.574 and has skilled a worth enhance of over 32% within the final 24 hours. In the meantime, POPCAT’s buying and selling quantity has skyrocketed by 225% over the identical interval, indicating rising dealer participation following the itemizing announcement.

Moreover, open curiosity has additionally elevated by 35% over the previous 24 hours, indicating rising curiosity from traders and merchants, in line with on-chain analytics agency CoinGlass.

POPCAT worth forecast for August 2024

Based on knowledgeable technical evaluation, POPCAT appears bullish and is now heading in the direction of an important resistance stage at $0.643. Nonetheless, the final time POPCAT reached this stage, it skilled a worth drop of greater than 40%, falling to the $0.38 stage.

This time, the sentiment for POPCAT is bullish and the each day chart is forming a bullish double backside worth motion sample. If the each day candle closes above the $0.69 stage, there’s a good probability that the worth may rise by 40% to $1 and even larger.

Excessive stage of liquidation

Proper now, key liquidation ranges are round $0.542 on the draw back and $0.60 on the upside as merchants have been extremely leveraged over the previous 24 hours, in line with CoinGlass.

If sentiment stays unchanged and the worth rises to the $0.60 stage, the lengthy place value nearly $672.84K will probably be liquidated. Conversely, if sentiment adjustments and POPCAT worth falls to the $0.542 stage, the quick place value nearly $1.34 million will probably be liquidated.