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As of today, the cryptocurrency market is generally in a downward trend, and altcoin investors observe that candlestick charts continue to show declines. In this negative environment, a crypto investor has attracted attention by earning $3.37 million through a meme coin called Popcat.
Investor’s Profit and Strategy
According to a post shared by Lookonchain, this investor held Popcat for approximately a month, selling it as the token price significantly increased. On September 12, 2024, they bought Popcat tokens at an average price of $0.68, and sold them on October 7 for $1.36, resulting in a million-dollar profit.
After its launch, Popcat became notable, gaining popularity following other meme coins like PEPE and BONK. With a growth of 14,483% this year, it reached an all-time high of $1.48, ranking seventh among meme coins.
This savvy whale sold their Popcat at $1.16, securing a $3.37 million profit.
— Lookonchain (@lookonchain) October 10, 2024
Currently, the investor possesses 0.31 million Popcat tokens, valued at approximately $359,600. While it is anticipated that such opportunities will continue in the crypto market, and the upcoming “Uptober” rally may further elevate token prices, the current landscape does not strongly support this outlook.
Future of Popcat
As of today, Popcat’s price hovers around $1.16, slightly below its all-time high. Its market cap is recorded at $1.15 billion, with a trading volume of $108 million. Prior to today’s decline, there was significant buying pressure on the token, and if fear subsides, it is believed that breaking the second resistance level could lead to an upward price trend.
Although the crypto landscape is rich in opportunities, few investors can effectively seize these chances. Successful investments in tokens like Popcat can be indicative of the market’s volatile nature. Investors should carefully monitor market trends and token performance when evaluating such opportunities.
