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Data provided by crypto analysis firm Santiment is closely followed by market participants. Santiment revealed important information about a Solana (SOL)-based meme coin, noting it reached an all-time high 3 days ago and suggesting this could trigger a correction.
POPCAT Price Update
Santiment reported that Popcat (POPCAT) caught the attention of leading market investors after its price surged over 110% from $0.469 on July 11th to an all-time high of $0.987 on Saturday.
The analysis firm explains,
Historically, this sudden interest level resulting from a price increase is likely to lead to a correction where better entry points are possible.
Despite POPCAT showing a 4.5% increase on the charts today, it is thought to be experiencing a correction. The meme coin’s price has fallen to $0.8218 during this period. POPCAT’s market cap rose to $805 million, bringing it one step closer to joining meme coins with a market cap exceeding $1 billion.
However, the 24-hour trading volume change, which may indicate a decline in interest, fell by 17%, bringing the volume down to $55.6 million. It seems that the price movement of POPCAT in the coming days will continue to be a topic of interest.
Bitcoin Comments
Following POPCAT, Santiment also drew attention to BTC. The company highlighted BTC bears during this period, noting that the price rally in recent weeks has weakened the bears on the BTC side.
After Bitcoin and crypto experienced a somewhat surprising recovery in the last two weeks, the crowd fell silent. Those who spoke of an impending bear market at the beginning of July disappeared as BTC once again approached $70,000.
Bitcoin price fell below $66,000 again following the Mt. Gox development yesterday. After a 1% drop in the last 24 hours, BTC is trading at $65,800. The market cap for BTC fell below $1.3 trillion, while trading volume dropped by 22% to $33.3 billion.
This 22% drop can also be seen as a reflection of the uncertainty that emerged in the market following yesterday’s events.
