Popcat (POPCAT), a cat-themed memecoin, is on the verge of rallying towards a new all-time high (ATH), according to multiple market watchers. Despite its impressive performance over the last three months and a 108% surge in the past 30 days, analysts caution about a potential correction.
The memecoin recently reached an ATH of $1.56 but faced challenges surpassing key resistance levels. After bouncing 16.6% from a $1.2 support zone, Popcat retested the trendline twice upon crossing the $1.4 mark.
Analysts warn that a correction might push the price back to between $1.1 and $1.0. Yet, some suggest the potential for Popcat to achieve another leg up and reclaim the $1.4 resistance level for new ATHs.
Crypto analyst Sanchez noted the memecoin's "running flat" performance could set up another correction before a breakout. Meanwhile, trader Bluntz predicts a 30% price surge if the token reaches a "biddable level." As of now, Popcat trades at $1.41.
