POPCAT, a Solana-based cryptocurrency, has recently gained significant attention from mainstream traders following a substantial price surge. POPCAT has experienced a remarkable 117% increase in value since July 11th, according to Santiment.
POPCAT Hits Record High, Sparks Unprecedented Trader Interest
POPCAT has created such a high level of interest from the trading community as it has never been witnessed before. In the past, similar spikes in the value of an altcoin are typically followed by bearish trends in the market. A correction usually implies that prices are going down, which might afford better entry points to investors.
Last weekend, POPCAT achieved its record level, which increased attention from traders and investors even more. This peak has synchronized with the highest recorded level of crowd interest in the asset.
Analysts Watch POPCAT for Potential Correction Amid Bull Run
The increased focus on POPCAT is in line with trends in the cryptocurrency market, where increased prices can lead to significant changes in the behavior of market participants within a short period of time. The market analysts are keen on the situation pointing out that even as the bulls dominate the market, corrective phase is always possible.
Market participants should be cautious and need to look at the backgrounds of similar events in the market as it deepens. Speculation about the prospects and growth rates of POPCAT in the long term still remains open. This is why analysts will continue to monitor the further evolution of this market.
