The post This Solana Memecoin Climbs 36%, On The Verge Of Reaching $1 And Record Highs appeared on BitcoinEthereumNews.com.

Este artículo también está disponible en español. The excitement surrounding memecoins is making a notable comeback as Solana-based tokens outperform larger cryptocurrencies, particularly following the recent announcement from the Federal Reserve regarding interest rate cuts. Among the standout performers is Popcat (POPCAT), which has experienced a remarkable 36% spike in just 24 hours, bringing the token close to its all-time high achieved in July of this year, underscoring the renewed enthusiasm for memecoins amidst changing economic conditions. Popcat Records Nearly 100% Gain In A Month On Wednesday, NewsBTC reported that the Federal Reserve announced its first rate cut in four years, reducing the federal funds rate by 0.50 percentage points. This adjustment marks a significant shift since the onset of the COVID-19 pandemic, lowering the target range to 4.75%–5%, down from 5.25%–5.5%.  These rates were the highest seen since 2001, and the decision is seen as a bullish signal for the broader market, suggesting potential price increases shortly, even as volatility is expected. Related Reading In response to this news, Solana saw nearly a 10% surge in the last 24 hours, edging closer to the $150 mark after successfully reclaiming key support levels. This momentum has fostered renewed confidence in tokens built on the Solana network, exemplified by Popcat’s performance. Top 5 Solana memecoins and their performances. Source: CoinGecko Currently trading at $0.918, Popcat is now just 7% shy of its all-time high of $0.993 reached two months ago. The latest increase coincides with a staggering 236% rise in trading volume, nearing the $200 million mark within just 48 hours, according to CoinGecko data.  Looking at longer time frames, Popcat has demonstrated significant growth, recording a 44% increase over the past week and a 62% rise over the last two weeks.  This translates to nearly a 100% gain in the…

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Filed under: News - @ September 20, 2024 4:08 am