Has Popcat Already Been Forgotten? Chain Data Tells a Different Story

Question

After months of silence following its devastating 95% collapse, Popcat is suddenly back in the spotlight on Solana. The meme coin that once ruled the ecosystem is now quietly staging a technical reversal that’s catching the attention of on-chain analysts.

The Numbers Behind the Narrative

Current market data shows Popcat trading at $0.09, with a 7-day decline of 13.23%. But the bigger picture reveals something more interesting: from its all-time high of $2.08 to now, the coin sits at a significant discount point. Meanwhile, its current circulation market cap stands at $86.22M, a fraction of its previous glory days.

In contrast, its rival Fartcoin has shown similar weakness, dropping 14.03% over the same 7-day period. Yet the narrative around Solana’s meme coins remains split - some seeing fatigue, others seeing opportunity.

Technical Setup Looks Suspicious (In a Good Way)

What’s capturing the attention of technical traders isn’t the pump itself, but the structure. On-chain data suggests Popcat is approaching a critical resistance level that previously rejected price action. If the price manages to consolidate above this zone, the math gets interesting - potential targets ranging from $0.35 to $0.71 aren’t unreasonable based on historical Fibonacci extensions.

This kind of technical setup is precisely what sophisticated traders look for: clear support zones, identifiable resistance, and a clear entry-to-target ratio.

Meme Coin Momentum vs. Market Reality

The Solana ecosystem’s appetite for meme coins has undeniably cooled compared to the frenzied runs of previous cycles. Yet the pattern remains consistent: extreme pessimism often precedes explosive recoveries. The current market sentiment metrics are showing a shift from fear to cautious curiosity.

What remains unclear is whether Popcat can sustain any move above key resistance, or if it’s just another dead cat bounce in a market full of them. The internet celebrity cat’s return might be real - or it might be an illusion.