A Prominent Crypto Analyst Shares Insights on Memecoin Popcat and Bitcoin
A well-known crypto analyst recently provided an update on a meme asset that has experienced astounding growth over the past year. Altcoin Sherpa, a trader with a significant following on the social media platform X, shared his thoughts on Popcat (POPCAT), a memecoin that has surged by an impressive 23,000% year-to-date. In a strategy session, he indicated that Popcat and other alternative coins (alts) are showing bullish signs after a period of stagnation.
Sherpa pointed out that cat-themed memecoins, including Popcat, are likely to make gains against dog-themed memecoins in the current market cycle. Popcat is currently trading at $0.912, reflecting a 1.8% increase in the last 24 hours. Since January 5th, when it was priced at $0.000379, Popcat has seen a remarkable growth of 23,963% according to CoinGecko.
While discussing Bitcoin, Sherpa cautioned investors not to get overly excited about its recent price movements. He highlighted that every rally initiated by Bitcoin since April has resulted in lower highs and lower lows. However, he expressed optimism about the possibility of Bitcoin breaking the $65,000 mark, which could lead to higher highs and higher lows for the cryptocurrency.
Sherpa emphasized that a breakthrough above $65,000 could signify a bullish market structure for Bitcoin, with the potential for sustained momentum. Despite Bitcoin’s dominance, he suggested that some altcoins may outperform the flagship cryptocurrency as it stabilizes. Bitcoin is currently trading at $62,187, showing a slight decrease in the last 24 hours.
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