Popcat (POPCAT) is grabbing attention with an impressive price surge in a short time. This jump has outpaced well-known meme coins like Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE), making POPCAT one of the top performers in the meme coin market.
Popcat (POPCAT) has seen a remarkable price surge recently, outperforming well-known meme coins like Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE) with a 30.33% gain in the last 24 hours. This surge has placed POPCAT among the top performers in the meme coin market.
The current price of Popcat is $0.890916, with a 24-hour trading volume of $615.55 million. Its market cap is $873.08 million, giving it a market dominance of 0.04%. In the last 24 hours, POPCAT’s price has soared.
Popcat reached its all-time high of $1.00177 on July 21, 2024, and its lowest point was $0.004106 on January 6, 2024. Since hitting its ATH, the lowest price was $0.264045 (cycle low), and the highest since then was $0.897733 (cycle high). Market sentiment for Popcat is bullish, and the Fear & Greed Index is currently neutral at 49.
Popcat's circulating supply is 979.98 million, out of a maximum supply of 420.69 trillion POPCAT.
The recent 50 basis point (bps) interest rate cut by the US Federal Reserve on September 18 has sparked significant market activity, benefiting assets like cryptocurrencies, including Popcat (POPCAT). This aggressive rate cut, which is rare, signals a shift in monetary policy aimed at stimulating the economy by making borrowing cheaper.
With easier access to credit, investors often turn to riskier assets like meme coins and other cryptocurrencies, seeking higher returns. As a result, the demand for POPCAT has surged, contributing to its price jump.
Historically, lower interest rates have fueled investment in speculative assets, with a similar trend observed in late 2021 when crypto markets peaked after a period of monetary loosening. As the Fed recalibrates its approach, there’s a renewed investor appetite for high-risk, high-reward assets, driving up POPCAT’s value.
If the Fed continues with this rate-cutting cycle, we could see further price increases, especially if other macroeconomic conditions favor risk-taking. However, this optimism must be balanced against potential volatility as market sentiment remains highly sensitive to Fed policy shifts.
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