- POPCAT is gaining momentum as Andrew Kang predicts a broader cat-themed rally in the crypto market.
- Bithumb influence in the market is driving major moves in meme coins like POPCAT and MEW.
Particularly in recent days, POPCAT, a somewhat new meme coin in the crypto space, has been generating big waves. Andrew Kang, Shepherd at Mechanism Capital and crypto pundit, stated that POPCAT had flipped FLOKI and is now within 10% of flipping BONK in market performance.
With additional cat-themed meme coins to follow POPCAT’s road to stardom, Kang also proposed that this may be the start of a more general “cat season” movement.
Popcat already now flipped Floki and within 10% of flipping Bonk
With continued strength of Popcat, think you now see a broader cat season rally
Placing bets on $MEW being another big runner given the long consolidation and being the only cat coin listed on Korean exchanges https://t.co/kOp402kTuO
— Andrew Kang (@Rewkang) October 7, 2024
Cat-Themed Meme Coins Gain Traction as POPCAT Surges in Trading Volume
POPCAT has been gaining from good market conditions while it is now in a situation of price discovery. Major South Korean crypto exchange Bithumb has been instrumental in guiding the swings in the market this year. Driven by Korean spot purchasing, the trade was notably significant in the price increases of ONDO and WLD.
Kang thinks POPCAT is now among the recipients of these financial inflows, therefore confirming its place in the market.
With POPCAT lately ranking third most traded crypto on Bithumb, after Bitcoin (BTC) and Tether (USDT), the trading volume of the coin has skyrocketed. Especially in South Korea, this significant trading activity shows rising investor interest.
Kang is also betting on MEW, another coin with a cat theme that has been under a protracted period of consolidation. MEW is the only cat coin found on Korean markets, and it could be the next major runner on the market. Strong market momentum pushing comparable assets like POPCAT supports Kang’s trust in MEW.
Meanwhile, POPCAT is trading for $1.23 as of writing, it has increased 17.37% throughout the past seven days. Still, it has undergone some price correction lately, closely matching the current drop in Bitcoin’s price.
Previously, yesterday CNF revealed that POPCAT, WIF, and MOG were among the top-performing meme coins in the daily crypto market rankings.
