POPCAT price has soared over 15% today, driven by heavy smart money accumulation, as momentum builds toward the next key price target of $0.70.
Popcat (POPCAT) is up over 15% in the past 24 hours, currently trading at $0.45. The surge appears to be driven by smart money accumulation, as POPCAT was the most purchased token in the past 24 hours by smart money wallets, according to the smart money tracking platform Stalkchain.
Today’s surge marks a continuation of the breakout rally that began around Apr. 24, when the price closed above the resistance of a consolidation range at $0.34. This range had held since early February, with support around $0.20 and occasional dips into the lower wick zone between $0.12 and $0.14.
The breakout on April 24 propelled the price to a daily close of $0.39, followed by a rally the next day that saw an intraday high of $0.45. After a period of volatile consolidation, the price closed strongly above $0.45 yesterday. Since the breakout, POPCAT has gained approximately 32%.
The memecoin has been trading consistently above both the 20-day EMA and the 50-day SMA since before the breakout, with a bullish crossover—where the EMA20 crossed above the SMA50—occurring around Apr. 11. This crossover coincided with the formation of the first higher high since the November ATH of $2.07.
Looking ahead, the next immediate resistance is the psychological level at $0.50. A clean break above this level could open the path to $0.70, a zone where the price faced major rejection in mid January and that also served as a key horizontal support in late December through early January.
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