POPCAT surges 22% after Coinbase listing
The Most Important Points at a Glance
POPCAT, a Solana-based memecoin, saw a 22% price increase following its listing on Coinbase. The inclusion in the trading offering, along with the introduction of a perpetual futures contract, led to increased buying interest. The Solana co-founder sees the current memecoin wave as a potential development towards blockchain-based technology IPOs.
POPCAT on the Rise After Coinbase Listing
The crypto markets are showing signs of recovery after a decline due to economic uncertainties. The total market capitalization rose to $3.18 trillion, an increase of 1.49% within a day. Particularly notable was POPCAT, a memecoin on the Solana blockchain, which gained 22% after its Coinbase listing. At the time of reporting, the token was trading at $0.3017, reflecting a 12.21% increase over 24 hours.
Why Is POPCAT’s Price Rising?
A listing on Coinbase alone often generates increased attention. In this case, the introduction of a perpetual futures contract for POPCAT further strengthened buying interest. As a result, POPCAT has established itself as one of the leading memecoins in the Solana ecosystem. The market capitalization of cat-themed memecoins rose to $2.76 billion, surpassing the growth of dog-themed memecoins, which only increased by 5%.
Market Reactions and Investor Interest
The community responded positively to this development. According to “The Solana Post,” POPCAT is now among the ten largest Solana memecoins by market capitalization. Market data also confirms the growing interest: According to Coinglass, the open interest (OI) in POPCAT futures rose by 12.07% to $161.26 million. Derivatives market trading volume increased by 37.59% to $952.10 million.
What’s Next for Solana Memecoins?
The current memecoin wave on Solana has sparked discussions about the sector’s future. Raj Gokal, co-founder of Solana, sees this development as more than just a short-term trend. He believes memecoins could serve as a precursor to blockchain-based technology IPOs. If this assessment proves correct, it could lead to a new form of financing for blockchain projects in the long term.
Our Assessment
POPCAT’s price surge demonstrates how significantly a listing on a major exchange can influence market interest. The introduction of a futures contract further amplified this effect. Solana memecoins are gaining increasing relevance, and experts see them as a potential evolution towards serious blockchain projects. Whether this trend will hold in the long run remains to be seen, but the current momentum suggests continued growth in this sector.
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