Popcat, the latest Solana-based memecoin sensation, has crowned itself as one of the best-performing cryptocurrencies in the market. The memecoin has stolen the spotlight following its 117% surge throughout Q3, outperforming other well-established tokens in the sector.
The feline sensation has now consolidated as the first cat-themed memecoin to hit a $1 billion market capitalization, leading the market’s bullish run alongside tokens like Sei (SEI) and Worldcoin (WLD).
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POPCAT Hits $1 Billion Market Cap Status
Memecoins became the leading sector during this cycle, with many tokens outperforming most altcoins over the last few months. At the front of the frenzy, dog-themed tokens like dogwifhat (WIF) stole the spotlight during Q1 and Q2. However, a feline rival is challenging its spot as Solana’s best-performing memecoin.
Investors and market watchers have praised the cat-themed sensation’s performance over the past few months. Throughout Q3’s violent market retraces, POPCAT showed a remarkable performance, becoming the largest gainer among the top 100 cryptocurrencies several times.
The memecoin’s price quickly bounced from its 55% pullbacks during the market crashes, recovering and surpassing its previous level each time. POPCAT’s price has seen a 117% surge in the past three months, driving its price from the $0.68 mark to a new all-time high (ATH).
In the late hours of Tuesday, the cryptocurrency broke above the $0.97 resistance level set by its previous ATH. The memecoin continued its 21% jump towards the $1.08 level, its new ATH, before retracing to the $1.01-$1.02 price range.
The surge propelled POPCAT’s market capitalization to the $1 billion mark, cementing its status as the leading cat-themed token and making it the first memecoin in this sector to achieve it.
Following its remarkable rise, the token registers a 57.8% and 40.2% surge in the weekly and monthly timeframes. Its daily market activity also saw an 82% jump to a trading daily volume of $133.3 million in the last 24 hours.
Investors See Further Price Potential
Some crypto whales loaded their bags as POPCAT broke the $1 barrier. On Wednesday morning, on-chain data analytics firm Lookonchain revealed that a crypto investor recently repurchased the cat-themed sensation, suggesting that some investors feel positive about the token’s future performance.
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