Popcat (POP) Soars to a Record High, Becoming the Seventh-Biggest Meme Coin in the Industry

Popcat futures open interest is rising as the Fear of Missing Out (FOMO) trend continues.

Popcat (POP) price soared to a record high on Monday as its futures open interest hit an all-time high. The meme coin’s price jumped to a high of $1.4785, which was more than 33,295% above its lowest point this year. This surge pushed its market capitalization to over $1.3 billion, making it the seventh-biggest meme coin in the industry.

Popcat futures open interest explodes

The ongoing Popcat驚人surge has led to a الكبير الكبير in its futures open interest. According to CoinGlass, the interest soared to an all-time high of $237 million, a remarkable increase from last month’s low of $46 million.

Futures open interest is a crucial metric that gauges the total value of unfilled put and call orders in the futures market. A put is a derivative that grants users the right, but not the obligation, to sell an asset at a specific price. On the other hand, a call option gives users the right to buy an asset at a predetermined price.

Another metric that has been on the rise is the number of Popcat holders, which surged as the Fear of Missing Out (FOMO) trend continued. According to data from Coincarp, Popcat now boasts over 72,000 holders, a significant increase from last month’s low of 68,000.

Popcat’s驚人surge highlights the immense popularity of Solana (SOL) in the meme coin industry. Other top Solana meme coins, such as Dogwifhat (WIF), Bonk (BONK), and Cat in a Dogs World (MEW), have also experienced remarkable surges this year.

Collectively, all Solana meme coins have a market capitalization of over $10 billion, and their 24-hour volume was $3.1 billion, according to CoinGecko.

There was no clear catalyst for the驚人surge in Popcat price on Monday. However, one possible reason could be the ongoing crypto rebound, which saw Bitcoin rise to over $64,000 for the first time in several days. In most cases, meme coins tend to perform well when Bitcoin is rallying.

Popcat price forecast

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