- Pfff, what a move lower that was. However, we have experienced many 60% to 70% price drawdowns. Yet, generally speaking, price is higher each month.
- Price found support at the main uptrend line and the support box between $0.31 and $0.34, and it closed above these levels.
- It’s important that over the coming days, price closes above the $0.40 horizontal level.
- Beyond this, the next resistance for price is at $0.55.
- Price managed to close above oversold territory, having been drastically oversold in the day.
- Price is likely to remain range-bound for some time, between $0.31 and $0.55.
- For those under-exposed, the $0.31 area would be where to leave bids.
Disclaimer: This is not financial or investment advice. You are responsible for any capital-related decisions you make, and only you are accountable for the results.
Cryptonary’s take
Yesterday was painful for sure in terms of portfolio drawdown. However, we should be used to this price action from POPCAT as it has happened a number of times before. We’ve had these 60% to 70% drawdowns multiple times, and each time, we rally to new highs. POPCAT is a tricky hold that really tests your emotions, but if you want that big upside, then the volatility is part and parcel of holding this kind of asset. If you find yourself too emotional about POPCAT and its price swings, then the next time the timeline is more euphoric because of higher prices, de-risk slightly.Personally, I (Tom) have held Spot bags since our entries at $7m Market Cap. However, yesterday, for the first time, I bought more POPCAT at $0.27 in one of the trading wallets I have. Despite being overexposed to POPCAT, yesterday seemed too good of an opportunity not to add more.
For full transparency, I also added some WIF. If I become more unsure about the macro, then I may look to sell some of yesterday’s buys, but for now, I am content to continue holding the POPCAT and WIF buys I picked up yesterday.
I am expecting sideways price action between $0.31 and $0.55 in the short term.
What is POP? Popcat (POP) is a meme-based cryptocurrency inspired by the viral Popcat meme. We at Cryptonary identified the potential of this token before cat memes even became a narrative in the crypto space. POP has now taken the lead in this emerging meme category, bringing fun and community engagement into the crypto ecosystem.
Popcat's ATH is $1. We've secured POPCAT at an average price of $0.04; we are very confident in its rise as the leader in the cat meme narrative.
How to Buy:
- Via Phantom Wallet:
- Deposit Solana tokens by copying your Phantom wallet address and transferring funds.
- Swap tokens within the wallet by selecting POPCAT, setting slippage tolerance, and confirming the swap.
- Via Centralized Exchange (CEX):
- Choose a CEX that lists POPCAT like ByBit, Gateio, or MEXC.
- Create and verify your account.
- Deposit funds.
- Go to the POPCAT trading section and purchase POPCAT.
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