Following a period of decline due to the tariff war, the cryptocurrency market is now displaying signs of recovery, witnessing a global market cap increase to $3.18 trillion, representing a 1.49% rise in the last 24 hours.
POPCAT Takes the Limelight
Amidst the overall bullish sentiment in the market, POPCAT, a meme coin based on Solana [SOL], has stood out as a top performer, experiencing a 22% surge following its recent listing on a major exchange.
Currently, POPCAT is being traded at $0.3017, showing a 12.21% increase over the last day. It has secured the second position among popular cat-themed meme coins on CoinGecko.
As a result of this surge, the cat-themed crypto market cap has reached $2.76 billion, outpacing the 5% growth of the dog-themed meme sector.
Understanding the Surge
The surge in POPCAT’s value can be attributed to its addition to Coinbase’s spot listing roadmap. This listing alone is often adequate to elevate a token’s profile in the market.
Moreover, in the case of POPCAT, the exchange also announced the launch of a perpetual contract for the token, leading to increased buying activity.
Community Response
Commenting on this development, ‘The Solana Post’ posted on social media,
“$POPCAT (@POPCATSOLANA) now ranks as the 9th largest Solana meme coin by market cap.”
Another user on the platform expressed,
Analyzing the Data
Both the spot and derivatives markets are indicating strong investor confidence.
As per Coinglass data, the Futures Open Interest [OI] for POPCAT surged by 12.07% to $161.26 million, while the trading volume for derivatives witnessed a significant increase of almost 37.59% to $952.10 million.
Future Prospects for Solana’s Meme Coin
The recent frenzy surrounding Solana meme coins has ignited discussions among prominent industry experts. Solana co-founder Raj Gokal and leading crypto analysts foresee a substantial transformation in the sector.
They believe that the current meme coin craze is not just a passing phase but a prelude to a broader evolution—one that could pave the way for blockchain projects to evolve into full-fledged “tech IPOs.”