Popcat, a new Solana meme coin, hit a record high of $0.7563 on Monday, soaring 13,500% above its year’s low. This surge coincided with the crypto fear and greed index stabilizing to a neutral point of 48.
The token’s market cap exceeded $700 million, placing it as the 9th largest meme coin globally. A standout feature of Popcat’s rise is its massive increase in futures open interest, hitting a record $45 million, signaling growing demand.
In 24-hour trading volume, Popcat outpaced larger meme coins like Brett and Mog Coin, reaching $78 million. Despite having no intrinsic value, Popcat has over 53,000 holders betting on its continued success.
While Popcat’s growth is impressive, it carries risks similar to other meme coins, such as potential insider sell-offs. However, its current momentum highlights significant market interest and potential future gains.
