Popcat rallies 16% amid aggressive whale accumulation

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• Popcat increased by 16%, strengthened whale accumulation and growing derivatives. Despite the bull dynamics, profit and volatility can question its path to $ 0.40.

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Popcat [POPCAT] After a successful defense of $ 0.28, $ 16.14% gathered and reached a 3 -week maximum of $ 0.3403 before it downloaded slightly to $ 0.336 at the press time.

At the same time, the volume of memecoin’s business volume increased by 113% reached $ 84.7 million, reflecting the energetic activity in the chain. But what supports overvoltage – investors’ beliefs or just technical reflection?

The popcat whales accumulate

As the cryptocurrency market has recovered in the last 24 hours, popcat whales have entered the market to increase their shares.

According to Nansen, the top holders of MEMECOIN increased their shares by 14.28% to $ 634.39 million.

10th July 10th July these holders acquired 8.5 million chips, increasing their total offer to 64.74%. Given that the great holders turned to aggressive accumulation, they reflect firm beliefs in MEMECOIN prospects.

Therefore, they expect the popcat value to continue to rise and consider it a good opportunity to buy now at a lower rate.

Derivatives look at more profits

In particular, while the whales have entered the rally, they seem to have done so to create strategic positions.

According to Coinglass, Popcat’s open interest rate (OI) increased by 19.3% to reach $ 172.9 million, while the volume of derivatives increased by 94.55% to $ 551.34.

In particular, the increase in OI together with the volume confirms increased activity in the volume of futures. At the same time, Popcat’s long short ratio exceeded 1 on all major exchanges.

The total ratio increased to 1.1313, signaling strong demand for long positions. Higher demand for longs usually means that investors actively bet on prices to increase.

Holders are greedy

As the popcat price increased, also the urge to realize the profit among all market participants.

According to Coinglass data, Spot Netflow decreased slightly to $ 485.9,000 at the time of writing and then slightly dropped to $ 278,000.

Such an increase means that investors who were underwater earned despite the price increase.

In fact, the offer on stock exchanges increased by 11.92% to $ 404.2 million, reflecting massive sales activity.

Can popcat keep recent profits?

According to Ambrpto analysis, popcat has experienced a strong rise, because buyers, especially whales, returned with increased force.

As a result, the stochastic RSI memecoin has increased sharply to signaling the ascending force at the time of printing.

However, with this metric that reaches these levels, he also warns against the potential volatility of cooking, because the buyers could get out of use.

In the same light, the relative force index (RSI) increased sharply to 54 and touched the bull territory, which further confirmed the presence of the moment of the buyer.

Therefore, in these circumstances, where the buyer holds strongly and strengthens, popcat is ready for other profits.

So if he holds sentiments, memecoin could get $ 0.36 back and focus on $ 0.40.

However, the continuation of UPTREND depends on the measures of the exchanges. If the profit that has experience in the last day persists, memecoin will face pressure down and drop again to $ 0.28.