The purr-fect meme coin opportunity in Solana

Crypto is a game changer in the global financial ecosystem. It is decentralised, permissionless, and censorship-resistant. It also enables financial sovereignty and wealth creation on a scale never before seen. 

But beyond the technology, when it comes to making money in crypto, narratives and trends are the secret sauces. 

And right now, the Solana ecosystem is the darling of the crypto economy; as it continues to explode, its meme coins are also basking in the limelight.

We already gave you BONK and WIF – both memecoins in the Solana ecosystem.

Since we published both reports publicly, BONK is up over 250% at the top, and WIF is up around 700%. And if you are in our Discord, you are probably up several thousand with the first-mover advantage.

We updated you on where our favourite dog is heading next. If you haven’t read it yet, check it out here.  

We keep finding you profitable “dogs” in the Solana ecosystem. 

But what if you like cats?

 We present you POPCAT!

Disclaimer: Not financial or investment advice. You are responsible for any capital-related decisions you make, and only you are accountable for the results.

Why POPCAT?

It’s time for cats on Solana

Solana’s vibrant community can’t seem to get enough of meme coins. 

We saw it with BONK and WIF, which we presented to our members promptly when we saw the opportunity.

Of course, we always recommend investing in great projects with strong fundamentals, but we believe playing the narrative game with a fraction of your portfolio is a good idea.

And while BONK and WIF are great dog coins, some people just don’t vibe with dogs, and they prefer cats. 

The challenge is that there is no widely popular and accepted “cat” meme coin in the market.

And as Solana keeps exploding and its meme community keeps evolving, we believe the community wants a “cat” too. 

Bet on Asia

The Asian market is paramount in the crypto economy, contributing significantly to global trading volume, boasting historical dominance in cryptocurrency mining, and showcasing robust user adoption. Notably, the region is home to influential cryptocurrency exchanges such as Huobi and OKEx, which wield substantial global influence.

Yet, Asia has yet to fully jump on the meme coin party simply because cats (not dogs) have deep cultural significance in many Asian societies. 

Cats are often associated with positive attributes such as luck, fortune, and prosperity in various Asian cultures. Knowing their psychometric properties, we can guess their next moves.

And cat coins also have an antecedent. One of the great grandfathers of meme coins is Monacoin, a cat-themed coin from Japan. It delivered a 1500% rally during the 2015 bull run. 

Therefore, considering cultural inclinations, when Asia enters the meme party, they will go for cat coins rather than dog coins.

Now, let’s have a look at tokenomics

Decent tokenomics

The number of POPCAT holders is relatively small but continuously growing (currently over 11,000), indicating the momentum behind the token. 

Market cap: $40,334,299 (fully diluted)

Whale concentration: Similar to $WIF, the supply is well-distributed, with no single wallet controlling more than 1.65%, with the top 10 holders collectively owning only 10,77% of the supply.

Overall, no single entity can dump the price heavily, which is a good sign.

We can see on-chain details about tokenomics here.

Similarly, even though the Twitter account is relatively young, we can see that the number of followers grew from 1,778 to 3,490 in just four days (a 96% increase). 

What are the odds that POPCAT will rug?

In the last report, we mentioned a checklist that can help you determine if a meme coin has a chance to become a serious contender among meme coins.

And POPCAT is ticking all the boxes. 

1. Devs burnt LP tokens: this prevents any malicious withdrawal or manipulation by the developers.
2. Auth contracts were renounced: eliminates the possibility of dilution through excessive mint of new tokens by devs.
3. Devs don’t hold any significant amount of the supply: devs won’t be able to dump on token holders.
4. And lastly, do the partner or kid test: When you show it to them, is the reaction good or bad?

Social engagement

As we continuously repeat, social narrative is crucial for a meme coin’s success. 

We can see from Twitter that the narrative around the POPCAT is starting to pick up. 

What's the outlook on POPCAT?

Bullish

POPCAT becomes the 1st widely popular “cat” meme coin and enter the Top 100 on CoinMarketCAP. 

If that is the case, we expect POPCAT’s mCap to be around $500m - $1b, which will put the price of POPCAT at around $0.5-1$ (Around 1000% - 2000% increase from the current price)

Conservative

It continues to gain traction to match WIF within the Solana ecosystem only.

In this scenario, we expect Mcap to reach $100mln - $500mln (around a 100% - 500% increase)

Bearish

We should always remember that meme coins have no fundamental value and can easily go up or crash.

In this scenario, we expect Solana and Solana’s meme coins to lose steam and potentially lose value.

Our bearish scenario is POPCAT losing momentum and dropping to $10mln - $15mln mCap (A loss of 55%-80%).

If you are contemplating investing in POPCAT, you should know that meme coins are volatile, and therefore, if you decide to invest, invest only what you can afford to lose.

How to buy POPCAT

If you have decided and don’t know how to add POPCAT to your porfolio, here is the tutorial.

1. You need to have Phantom wallet (or other Solana compatible wallets)
2. Go to Raydium and connect your wallet
3. To find the right POPCAT token, insert this address into the “To receive” section: 7GCihgDB8fe6KNjn2MYtkzZcRjQy3t9GHdC8uHYmW2hr
4. Choose the POPCAT token and execute the swap

Cryptonary’s take

Solana keeps ripping the charts, and its memes are taking off.

We believe our “dogs” are going UP; however, if you like “cat”, POPCAT can be your next favourite meme coin.

However, as we always say, meme coins are very volatile. Therefore, consider your risk profile and whether this kind of investment suits your portfolio before investing.

Cryptonary out!