Trader Says Memecoin That’s Up Over 15,000% Year-to-Date Still Looks Pretty Strong, Updates Outlook on Bitcoin

Largely adopted crypto analyst Altcoin Sherpa believes that one red-hot memecoin has extra room to run to the upside regardless of astronomical good points up to now this 12 months.

The pseudonymous dealer tells his 221,900 followers on the social media platform X that Solana (SOL)-based meme token Popcat (POPCAT) might stay in an uptrend after bouncing off a key stage at round $0.64.

“POPCAT nonetheless seems to be fairly robust for now, nice S/R (help/resistance) retest. If it weapons for the highs once more, this would be the main class for memes and in addition CAT beta.”

Popcat is buying and selling for $0.59 at time of writing, up greater than 15,000% since hitting a low of $0.00379 in January.

Subsequent up, the analyst says that whereas macro situations could also be bullish for Bitcoin (BTC), the crypto king seems to be flashing combined indicators within the close to time period.

“I don’t know the place BTC is at. It’s bearish on the one-day, bearish on the 200-day exponential transferring common (although proper at it so no actual robust sign there) and nonetheless bullish on the one-week (although it will probably nonetheless be bullish till $40,000, so not an ideal indicator both).

Too many conflicting ideas right here. We’re nonetheless in the identical buying and selling vary as earlier than, and I don’t see a lot readability proper now. Macro atmosphere appears good total with elections plus charge cuts coming in plus much less total provide coming from [Mt.] Gox, Germany, and so on.

However I actually don’t have any clue what occurs within the brief to medium time period.”

Bitcoin is buying and selling for $59,308 at time of writing, up barely within the final 24 hours.

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