- According to the cryptocurrency analytics company Santiment, one meme coin based on Solana (SOL) that reached new all-time highs over the weekend may be due for a correction.
Popcat (POPCAT) gained notice from mainstream traders, according to Santiment, after surging 110% to reach a new all-time high of $0.987 on Saturday from a trading price of approximately $0.469 on July 11.
POPCAT is down about 7% in the last day and is currently trading at $0.853, suggesting that the correction may have already started. The cryptocurrency asset with the 98th-highest market capitalization is still up about 14% over the last week.
Following Bitcoin’s and cryptocurrency’s rather unexpected comeback over the last two weeks, the audience has quieted. When Bitcoin started to approach $70,000 again in early July, those who were outspoken about an approaching bear market have all but vanished.
Additionally, Santiment observes that since the cryptocurrency king sparked an unanticipated rebound in recent weeks, social media activity among Bitcoin traders—particularly bears—has subsided.
As of this writing, BTC is trading at $67,409. The cryptocurrency with the highest market capitalization is up almost 8% from a week ago.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
