Popcat price rally gains steam as tokens on exchanges dip

Here’s why Pi Network, Jasmy, LTC, Ethena, and altcoins are down

Popcat, a leading meme coin on the Solana network, extended its bullish momentum on Tuesday, reaching its highest level since March 3.

Here’s why Pi Network, Jasmy, LTC, Ethena, and altcoins are down

The Popcat token climbed to $0.2722, nearly doubling from its lowest point this year. Its market capitalization has surged to $254 million, making it the sixth-largest meme coin in the Solana ecosystem.

Here’s why Pi Network, Jasmy, LTC, Ethena, and altcoins are down

Data from third-party sources shows that the amount of POPCAT tokens held on exchanges has fallen over the past week. A drop in the number of tokens on exchanges is a bullish sign since it is a sign that investors are moving their coins to self-custody. On-chain data from Nansen also shows strong conviction among profit-leading holders. The most profitable Popcat trader over the past week has made nearly $2 million and is still holding 99% of their tokens. Indicators like the Relative Strength Index and the Percentage Price Oscillator are pointing upward, indicating a bullish divergence is forming.