Crypto Expert Sees Further Upside for This Memecoin Despite Massive Gains

Popular crypto analyst Altcoin Sherpa is optimistic about the future of a trending memecoin, despite its already substantial gains this year.

Sherpa suggests that Popcat (POPCAT), a meme token based on the Solana (SOL) blockchain, might continue its upward trajectory after recently bouncing from a key support level around $0.64.

$POPCAT still looks pretty strong for now, great S/R retest. If it guns for the highs again, this will be the leading category for memes and also CAT beta pic.twitter.com/JWv8xxuuBV

— Altcoin Sherpa (@AltcoinSherpa) August 29, 2024

He noted, “POPCAT still appears strong right now with a solid support/resistance retest. If it targets new highs, it could lead the memecoin market and also show promise in the CAT beta category.”

Currently, Popcat is priced at $0.59, representing an impressive increase of over 15,000% from its January low of $0.00379.

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Looking ahead, Sherpa mentions that while the overall macro environment may be favorable for Bitcoin (BTC), the leading cryptocurrency is currently showing mixed signals in the short term.

I don’t know where $BTC is at. It’s bearish on the 1d, bearish on the 200d EMA (though right at it so no real strong signal there) and still bullish on the 1W (though it can still be bullish until 40k, so not a great indicator either). Too many conflicting thoughts here. We’re… pic.twitter.com/9wbWZDgTZp

— Altcoin Sherpa (@AltcoinSherpa) August 30, 2024

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.