Here’s Why Popcat Memecoin Soared Over 34% in 24 Hours

The Solana-based memecoin Popcat soared over 34% in the last 24 hours. This rapid surge is heavily tied to the token’s new listings on KuCoin and Binance Futures. These listings will allow the memecoin to become available to millions of crypto users globally, increasing the token’s demand and, by extension, its price.

POPCAT Jumps Over 34%

Binance Futures, the crypto derivatives arm of the leading crypto exchange, revealed earlier today that it had listed the Solana-based meme token for perpetual trading starting at 13:00 UTC. This allows investors to speculate on POPCAT’s future price without expiration. Recall that Binance Futures launched another Solana-based meme token in the same fashion.

The derivatives platform added that POPCAT will be tradeable with a leverage of up to 75x, indicating that users may see massive profits from their trades.

Coincidentally, the crypto exchange KuCoin listed POPCAT under the POPCAT/USDT trading pair an hour after Binance Futures’ announcement. Note that Bybit, another crypto exchange, had listed the memecoin earlier this year.

On-chain data from the price-tracking website CoinStats show that POPCAT’s 34% price increase took its value to $0.583. The chart below shows that the memecoin has rebounded at $0.572 at press time. Still, POPCAT is still lower than its peak value of $0.99 recorded in July when the memecoin market was consumed by frenzied engagements and profits.

Source: CoinStats

What is Popcat?

Popcat is a cat-themed memecoin built on the Solana mainnet. Launched in December 2023, the meme token originates from a viral meme from October 2020. The meme portrayed a cat named Oatmeal with two facial expressions: one with its mouth closed and the other with its mouth widely opened to form a letter O shape.

POPCAT, the project’s native token, has a total supply of 979,974,293 tokens, 100% of which are in circulation. These tokens are subject to zero taxation, a move believed to attract more investors into the cat-themed ecosystem.