One Solana (SOL)-based meme token could possibly be going through a correction after hitting new all-time highs over the weekend, in response to the crypto analytics agency Santiment.
Santiment notes that Popcat (POPCAT) drew consideration from mainstream merchants after skyrocketing from buying and selling at round $0.469 on July eleventh to a brand new all-time excessive of $0.987 on Saturday, a rise of greater than 110%.
Explains the analytics agency,
“Traditionally, this degree of sudden curiosity on account of a value surge has a excessive probability of resulting in a correction, the place higher entry factors are doubtless.”
The correction could have already got begun: POPCAT is buying and selling at $0.853 at time of writing and is down practically 7% prior to now 24 hours. The 98th-ranked crypto asset by market cap remains to be up practically 14% prior to now seven days.
Santiment additionally notes that Bitcoin merchants, particularly BTC bears, have mellowed down on social media after the crypto king ignited an “sudden” rally prior to now weeks.
“The group’s gone silent after Bitcoin and crypto have loved a considerably shocking rebound the previous two weeks. These vocal about an impending bear market in early July have primarily disappeared as BTC has neared $70,000 as soon as once more.”
BTC is buying and selling at $67,409 at time of writing. The highest-ranked crypto asset by market cap is up greater than 8% prior to now week.
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