The rise of cat-themed meme coins is here, with Popcat leading a 24% surge this week.

The era of cat-themed meme coins is here – and Popcat is leading the way with a 24% pump this week. 

Is it worth buying, or could traders secure a better price if they wait longer?

Popcat advances into price discovery, more gains expected on bullish market outlook

Popcat is one of the only major cryptocurrencies trading deep inside price discovery right now. 

It’s a unique position. 

On the one hand, it shows relative strength against the market, indicating a significant investor appetite and the fact that its rally could continue.

However, prices never go up-only. What goes up must come down, at some point.

So the question for Popcat is how long it can go up without coming down.

Based on the Fibonacci tool, the final 2.618 level could prove a resistance zone. It lands at $2.27, a 30% increase from its current price of $1.72.

This is a likely target for two reasons. The first is Popcat’s impressive momentum, which shows no signs of slowing down so far. 

Second, Bitcoin is currently trading above $72K, just 1.85% away from creating a new all-time high. Should Bitcoin enter price discovery in the coming days, it will attract new liquidity for altcoins as investors dial up their risk exposure.

But what are analysts saying?

Prominent meme coin trader Murad Muhamedov says that POPCAT is breaking above an ascending trendline resistance, which he suggests is “very, very bullish.”

The analyst predicts POPCAT will reach $5 soon.