A closely monitored cryptocurrency analyst has updated his views on a meme coin that has achieved remarkable gains over the past year. Among the altcoins that made headlines this year, POPCAT stands out as one of the top-performing assets within the largest 300 cryptocurrencies.
Cat-themed Meme Coins Forecast
Crypto trader Altcoin Sherpa informed his followers on the social media platform X that Popcat (POPCAT), which has risen by 23,000% since the beginning of the year, along with other altcoins, has shown an upward trend for the first time in months.
“You can see a change in market structure with POPCAT and many current coins. The trend is rising for the first time in months, and for some, you should think about buying during dips.”
According to Sherpa, cat-themed meme coins have more potential to rise compared to dog-themed ones in this cycle. However, we know he does not have a crystal ball to predict the future; therefore, he will not be responsible for your losses if he is wrong. Yet, analyst opinions like this have gained traction on social media, potentially guiding community sentiment and creating hype. The more people look in the same direction, the more movement we might see, as demand determines prices for nearly all altcoins in cryptocurrency.
Critical Levels for Bitcoin
Sherpa also shared insights on Bitcoin (BTC) 
$86,419, urging investors to remain cautious despite recent gains. He reminds them that every rally initiated by Bitcoin since April has resulted in lower highs and lower lows.
“BTC – It’s great to see these movements in the past week, but it’s essential to look at the bigger picture. Every strong rally we’ve seen since April has resulted in lower highs and lower lows. We saw a potential higher low at the beginning of September; I would like to see a break of a certain resistance level.”
The analyst states that breaking important resistance levels for Bitcoin could lead to the formation of higher highs and lows in the market.
“Breaking certain levels could establish the first rising market structure we’ve seen in months. This can occur with higher highs and higher lows. This time, I hope we see genuine momentum that breaks through and continues.”
The cryptocurrency analyst also mentions that Bitcoin’s market dominance is increasing, while some altcoins may outperform Bitcoin during this process.
What can we derive from all this analysis? The recent movements observed in the cryptocurrency market offer new opportunities for investors, making it crucial to understand market dynamics and develop the right strategies. The signals indicating a resurgence of excitement in cat tokens will be noteworthy for investors tracking trend potential.
