Key Takeaways:
- POPCAT's price surged 31% after its Binance Futures debut, driven by a $5.73 million whale purchase.
- The launch led to a 119.07% increase in trading volume, reaching $135 million in 24 hours.
- Binance's addition of POPCAT and SUN contracts highlights growing interest in high-leverage meme coin trading.
YEREVAN (CoinChapter.com) — POPCAT, a meme coin on the Solana blockchain, saw its price increase by 31% following its debut on Binance Futures. This price movement was linked to a large transaction where a whale withdrew 39,816 SOL, valued at approximately $5.73 million, from Binance to purchase 10 million POPCAT tokens. The transaction reflects a notable level of investor interest in the coin.
The POPCAT perpetual contracts, offering up to 75x leverage, became available for trading on August 22, 2024. This launch led to a 119.07% increase in trading volumes, reaching $135,154,008 within 24 hours. Both retail and institutional investors have shown interest in the coin.
POPCAT’s price movement and volume increase suggest that it is gaining recognition within the market. Its connection to the Solana ecosystem may be a factor attracting investors who view it as having potential within the meme coin space.
Binance Expands Meme Coin Offerings with POPCAT and SUN Futures
Binance, the largest cryptocurrency exchange, has added POPCAT to its futures trading platform, further solidifying its presence in the meme coin market. The exchange’s decision to list POPCAT alongside SUN, a meme coin from the Tron blockchain, underscores its commitment to offering diverse trading products. These new perpetual contracts come with a leverage of up to 75x, making them particularly appealing to traders seeking high-risk, high-reward opportunities.
Token Price Soars 29% Amid Meme Coin Surge; DAWGZ Presale Raises $3M
Binance’s continued addition of meme coins suggests that more could be listed soon. Rumors of Base Dawgz (DAWGZ) being listed next have started circulating. DAWGZ raised nearly $3 million in its presale, gaining attention for its share-to-earn and refer-to-earn features.
The rising interest in meme coins highlights their role as high-beta bets, particularly for those looking to capitalize on the volatility of Layer-1 blockchain tokens. As more meme coins gain traction, their influence on the broader cryptocurrency market is likely to grow, creating new opportunities for traders and investors alike.
At the time of writing, POPCAT (SOL) is priced at $0.5619, reflecting a 29.52% increase within the past 24 hours. The market capitalization stands at $550,626,408, ranking it #104. The 24-hour trading volume has surged by 149.75% to $153,511,453, placing it at #38 in volume rankings. The volume-to-market cap ratio is 27.36%. The circulating supply of POPCAT is 979,973,185 tokens out of a total supply of 979,973,221. The fully diluted market cap matches the current market cap at $550,626,429.
