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Breaking News: Major Win For Memecoins: SEC Affirms They Typically Do Not Qualify As Securities
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Breaking News: Major Win For Memecoins: SEC Affirms They Typically Do Not Qualify As Securities

Solana’s Popcat Nears $1 Billion Market Cap After Hitting ATH

Christian Encila
Christian Encila
10 months ago
3 mins read
Popcat

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Popcat has emerged from the convergence of internet memes and cryptocurrency. The meme coin depicts a playful feline, and it serves as inspiration for this digital asset, which has captured the attention of investors and crypto enthusiasts as it tallies a new milestone.

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Popcat Scales The Crypto Food Chain

Popcat has been showing a big deal of resilience since it made a foray into the memecoin space in 2020. Fast forward four years, the token tallied an incredible 180% growth in value in 30 days.

The coin achieved an all-time high of $0.7542 in 24 hours, up roughly 30%. This latest achievement puts the memecoin at the top of the cryptocurrency hierarchy.

Popcat’s $700 million market capitalisation and 979,978,694 token supply makes it one of the top 100 cryptocurrencies to date.

🚨 NEW: Solana memecoin $POPCAT breaks $700 million Market Cap, a new all-time high. pic.twitter.com/kA1wkXsmKS

— SolanaFloor (@SolanaFloor) July 15, 2024

Popcat’s quick ascent may be attributable to internal and external factors. The “popcat” meme’s appeal provided a foundation for community growth and virality. Investors felt nostalgia and camaraderie from the token’s connection to a big internet sensation, resulting in a loyal following.

Second, the speculative character of the cryptocurrency market contributed significantly to Popcat’s success. Investors were enticed to many other meme-inspired tokens because of the prospect for rapid profits and the exhilaration of partaking in a high-risk, high-reward investment.

The psychology of fear of missing out (FOMO) definitely contributed to the Popcat frenzy, as many rushed to take advantage of the perceived opportunity for massive rewards.

Popcat is currently trading at $0.83. Chart: TradingView

Moreover, the flood of fresh investors joining the crypto market—especially those drawn in by the prospect of fast wealth—created demand for Popcat and other tokens. Both seasoned and novice investors may easily participate in the speculative frenzy due to the relatively low entrance barrier and the availability of crypto exchanges.

Popcat’s expansion has been rather remarkable, but purchasers should use caution even so. The bitcoin market is erratic most of the time, hence meme-based currencies are particularly vulnerable to rapid price swings. These goods are intrinsically dangerous as they rely on speculation and lack actual value, hence investors should be ready to lose a lot of money.

Popcat enjoys the green in the last 24 hours. Source: Coingecko

Memecoin’s Value At A Glance

Popcat’s value rose by 16.4341% during the past 24 hours as of July 16, 2024. Perceptive investors will see a drop, nonetheless, within the last 30-day period. Therefore, the choice to make Popcat investments will rely on whether such an investment fits your individual risk tolerance and trading objectives.

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Financial experts have sought to navigate the murky waters of cryptocurrency prediction, with some, such as Coindataflow, claiming that the average value of Popcat might surge to $1.63 by the end of the year.

Looking ahead in the coming months or years, Popcat’s projections show that the digital currency might reach $3.52. Reduced liquidity can cause significant price volatility and make it difficult to execute trades at targeted price levels, adding to the investment’s inherent risks.

Featured image from X/@POPCATSOLANA, chart from TradingView

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Christian Encila
Christian Encila

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Read more

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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