Popcat 16 % pools amid aggressive whale accumulation star-news.press/wp

Main meals

• Popcat increased by 16 %, backed by whale accumulation and high interest in derivatives. Despite the bullish momentum, it may challenge profits and fluctuations to $ 0.40.

Popcat (POPCAT) gathered 16.14 % after successfully defending $ 0.28, reaching an increase of 3 weeks at 0.3403 dollars before restoring a little to $ 0.336 at the time of the press.

At the same time, the trading volume in Memecoin increased by 113 % to $ 84.7 million, which reflects a strong activity on the chain. But what provides the height – the investor’s condemnation or just a technician?

Popcat whales accumulate

With the currency market recovered over the past 24 hours, the Popcat whale has entered the market to increase its property.

According to Nansen, the major holders of Mimxen increased their shares by 14.28 % to 634.39 million dollars, as of reports.

Source: Nansen

On July 10, these female representatives acquired 8.5 million symbols, increasing their total supply to 64.74 %. With a large bearer turning into an aggressive accumulation, it reflects a firm condemnation in Memoine horizons.

As such, they expect PopCat to continue to rise and see it is a good opportunity to buy now at lower prices.

Derivatives look forward to more gains

It is worth noting, although the whales entered the assembly, it seems that they did so to create strategic positions.

According to Coinglass, the open interest of Popcat (OI) increased by 19.3 % to $ 172.9 million, while the derivative volume increased by 94.55 % to $ 551.34.

Source: Coinglass

It is worth noting that an increase in OI besides size confirms an increase in activity in the volume of futures. At the same time, the long short Popcat ratio has increased to exceed 1 across all main stock exchanges.

The total ratio has risen to 1.1313, indicating strong demand for long situations. Usually, the highest demand indicates that investors are actively betting on high prices.

Greedy

With the high price of POPCAT, as well as the desire to make profit among all market participants.

According to Coinglass data, Spot Netflow rose to 485.9 thousand dollars and then decreased slightly to 278 thousand dollars, at the time of writing this report.

Source: Coinglass

Such height indicates that underwater investors were recovering despite the increase in prices.

In fact, the offer on the stock exchanges increased by 11.92 % to $ 404.2 million, reflecting the massive sale activity.

Can PopCat maintain recent gains?

According to Ambrypto analysis, POPCAT has a strong height where buyers, especially whales, returned with increased strength.

As a result, the random information officers index in Memecoin rose to 86.73, at the time of the press, indicating a strong upward momentum.

However, with this scale that reaches these levels, it also warns of potential fermentation fluctuations, where buyers can become exhausted.

Source: TradingView

In the same light, the RSI Index rose to 54, and touched the upward lands, confirming the existence of a buyer’s momentum.

Therefore, under these circumstances, where buyers keep strongly and enhance momentum, PopCat prepares for more gains.

Thus, if the feelings withstand, Memecoin can restore $ 0.36 and target $ 0.40.

However, the continuation of the upward trend depends on the measures taken by the stock exchange holders. If the profit continues over the past day, Memecoin will face the downward pressure and drop to $ 0.28 again.