Will Popcat (POPCAT) reach $2 before the end of 2024?

A price target of $2 has been given for POPCAT, the popular memecoin of the Solana blockchain, by the end of the year.

Solana memecoins continue to gain momentum despite the skepticism of many investors. Many memecoins, especially Bonk ($BONK ), Dogwifhat ($WIF ) and Popcat (POPCAT), are increasing the trading volume of the Solana blockchain.

Crypto analysis platform AMBCrypto suggested that POPCAT, which has approached a market value of $1 billion in a short time, will continue to rise. In the analysis in question, it was stated that open interest, funding rates and total liquidations gave positive signals.

The analysis predicted that POPCAT will increase by over 100 percent before the end of 2024.

According to CoinGecko data, POPCAT has increased by 51 percent in the last two weeks. POPCAT's market value has reached $900 million, while its average trading volume has increased to $80 million.

It was reported that POPCAT, which has been steadily increasing since September 8, is preparing for a potential bull run. AMBCrypto, who said, "The market crash on August 5 created the bottom level of POPCAT," continued his words as follows:

"POPCAT's current momentum suggests that the price could rise above $1. The popular memecoin can make more gains."

According to the analysis, if market conditions continue to be favorable, POPCAT's price could reach $2 by the end of the year. Despite the bullish expectation, the analysis warned that the psychological resistance point at $1 could create significant selling pressure. The support levels to be followed for POPCAT are shown as $0.80 and $0.50.

“POPCAT is holding strong and traders are closely monitoring the price chart for higher profitability,” AMBCrypto said, referring to Open Interest (OI) weighted funding rates.

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