POPCAT’s big break: How a Coinbase listing fueled the Solana memecoin’s surge
The post POPCAT’s big break: How a Coinbase listing fueled the Solana memecoin’s surge appeared on BitcoinEthereumNews.com.
Journalist Posted: February 10, 2025 POPCAT surges 22% after Coinbase listing, fueling strong investor interest. Solana co-founder sees memecoin craze evolving into blockchain-based “tech IPOs.” After a significant downturn driven by the ongoing tariff war, the crypto market is showing signs of recovery, with the global market cap rising to $3.18 trillion—marking a 1.49% increase in the past day. POPCAT steals the spotlight While the broader market leans bullish, Solana [SOL]-based memecoin POPCAT has emerged as a standout performer, surging 22% following a major exchange listing. At press time, POPCAT was trading at $0.3017, with a hike of 12.21% in the past 24 hours. It secured the second spot among trending cat-themed memecoins on CoinGecko. This resulted in the cat-themed crypto sector surging to a $2.76 billion market cap, outpacing the dog-themed meme sector’s 5% rise. What might be the reason behind this surge? This surge came in as Coinbase added POPCAT to its spot listing roadmap. This alone is typically enough to bring a token into the spotlight. However, in the case of POPCAT, the exchange also announced the launch of a perpetual contract for the token, triggering heightened buying pressure. Community reacts Remarking on the same, ‘The Solana Post’ took to X (formerly Twitter) and noted, “ $POPCAT (@POPCATSOLANA) returns as the 9th top Solana memecoin according to market cap.” Another X user added, Source: Shah/X What do the metrics say? Both spot and derivatives markets signal strong investor confidence. According to Coinglass data, POPCAT’s Futures Open Interest [OI] spiked by 12.07% to $161.26 million at press time, while derivatives trading volume skyrocketed nearly 37.59% to $952.10 million. What lies ahead for Solana’s memecoin? As expected, the ongoing Solana memecoin frenzy has sparked discussions among top industry figures. Solana co-founder Raj Gokal and leading crypto analysts predicts a transformative…
Filed under: News - @ February 9, 2025 10:09 pm