POPCAT Surges 18.45% With Technical Analysis Suggesting Further Uptick

• POPCAT saw an 18.45% price increase, reaching $0.4735 as Open interest in POPCAT futures rose to $209.49 million
• POPCAT’s price trend follows a logarithmic wave pattern, suggesting a potential surge to $3.80 by 2025.

After starting an uptick trend on May 7, POPCAT has continued its movement, recording new strength in the market. During today’s Asian trading session, POPCAT opened its market value at $0.4289 as the bullish trend continues to dominate. As of the latest update, it has seen a 18.45% surge. This trend has prompted many market analysts to weigh in if the trend will continue or a reversal will be invited.

POPCAT Sees 18.45% Price Surge as Open Interest Hits $209.49M

According to CoinMarketCap data, POPCAT’s price performance over the last 24 hours, shows a rise of 18.45%, reaching $0.4735. The market cap stands at $464.07 million, marking an increase of 18.41%. The 24-hour trading volume has risen by 58.06%, totaling $240.84 million.

Source: CoinMarketCapThe fully diluted valuation (FDV) is $463.93 million. The volume-to-market-cap ratio stands at 52.97%, indicating strong trading activity relative to its market size. The price trend shows a steady upward movement, reflecting the growing demand for POPCAT in recent hours.

Additionally, the futures metric indicates a positive trend, Coinglass data notes that as of May 8, open interest stands at $209.49 million. The chart reflects a peak in open interest around January 2025, closely tracking the price movements.

Source: CoinglassHowever, a decline in open interest was seen post-February, followed by a gradual rise. This suggests growing market participation, with open interest showing a slight increase in the most recent data point.

Analysis Hints at Potential Parabolic Surge Toward $3.80 Cycle Top

According to analysis prepared by Bitcoincensus, POPCAT’s price movement has followed a logarithmic wave pattern since its market introduction. Each upward wave has demonstrated greater intensity compared to the last, forming a clear trend of increasing momentum.

***Source:****Bitcoincensus (X)*The analysis shows a bullish megaphone pattern and an exponential wave pattern, indicating significant upward movement. The projected highest price is $3.80 by the end of the year 2025. Moreover, it also shows an upward sloping line by a broken line indicating that it continues to rise. From the current graph it is possible to deduce continued growth of the price is expected over time as shown by the increasing waves.

From the analysis, market data reveals that the asset comprises historic price fluctuations in the form of consecutive logarithmic curves. He reports that each surge has led to sharper gains over time, as the upcoming projected wave is expected to surpass previous levels.

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