Trader Says Memecoin That’s Up Over 15,000% Year-to-Date Still Looks Pretty Strong, Updates Outlook on Bitcoin

Altcoin Sherpa, a prominent crypto analyst, suggests that the meme token Popcat (POPCAT) based on Solana (SOL) still has potential for further upside growth despite already impressive gains this year.

In a recent post on X, the trader with a large following highlighted that Popcat has shown strength by retesting a key support/resistance level at around $0.64 and could continue its upward trajectory.

“POPCAT still looks pretty strong for now, great S/R retest. If it guns for the highs again, this will be the leading category for memes and also CAT beta.”

Currently, Popcat is trading at $0.59, marking an incredible increase of over 15,000% from its January low of $0.00379.

In another update, Altcoin Sherpa comments on the mixed signals coming from Bitcoin (BTC) in the short term, despite favorable macro conditions.

“I don’t know where BTC is at. It’s bearish on the one-day, bearish on the 200-day exponential moving average (though right at it so no real strong signal there) and still bullish on the one-week (though it can still be bullish until $40,000, so not a great indicator either).

Too many conflicting thoughts here. We’re still in the same trading range as before, and I don’t see much clarity right now. Macro environment seems good overall with elections plus rate cuts coming in plus less overall supply coming from [Mt.] Gox, Germany, etc.

But I honestly have no clue what happens in the short to medium term.”