A closely followed crypto analyst has updated his view on a meme coin that has made striking gains over the past year. POPCAT, one of the altcoins that has left its mark this year, is at the top of the list of best-performing assets among the top 300 cryptocurrencies.
Cat Themed Meme Coins Prediction
Crypto trader Altcoin Sherpa told his followers on social media platform X that Popcat (POPCAT), which has risen by 23,000% since the beginning of the year, and other altcoins are showing an upward trend for the first time in months.
“You can see the market structure changing in POPCAT and many other coins right now. The trend is up for the first time in months and for some you should consider buying on dips.”
According to Sherpa, cat-themed meme coins have the potential to rise more than dog-themed ones this cycle. And of course, we know that this analyst doesn’t have a magic ball that shows the future, so he won’t compensate you by saying he’s responsible for your losses when he’s wrong. However, since these types of analyst comments have been gaining traction on social media recently, there’s the potential to drive community sentiment and create hype. The more people are looking in the same direction, the more movement we’ll see there, because demand for almost all altcoins in crypto is what determines the price.
Critical Levels for Bitcoin
Bitcoin (BTC) $63,421 Sherpa, who also made evaluations about the issue, urges investors to be cautious despite the recent increase. He reminds that every rally initiated by Bitcoin since April has resulted in lower highs and lower lows.
“BTC – It’s really nice to see these moves over the last week, but it’s also important to look at the bigger picture. Every strong rally we’ve seen since April has had lower highs and lower lows. We saw a potential higher low in early September; I’d love to see a breakout of a certain resistance level.”
The analyst also says that if Bitcoin breaks through key resistance levels, it could lead to higher highs and lows in the market.
“Breaking through certain levels could create the first bullish market structure we’ve seen in months. That’s possible with higher highs and higher lows. This time I’m hoping to really break through and show some continued momentum.”
The crypto analyst also stated that BTC’s market dominance is increasing, and yet some altcoins may overtake Bitcoin in the process.
So what should we understand from all this evaluation? While this movement observed in the cryptocurrency market in general offers new opportunities for investors, understanding market dynamics and developing the right strategies is gaining importance. The signal we see here that excitement will revive in cat tokens will be remarkable for investors who follow every possibility and trend potential.
Disclaimer: The information contained in this article does not contain investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
