According to Santiment, a Solana (SOL)-based meme token may be on the verge of a correction after reaching new all-time highs recently. The analytics firm highlights that Popcat (POPCAT) gained mainstream attention as its price surged from $0.469 on July 11th to a record high of $0.987 on Saturday, marking a more than 110% increase.
Santiment suggests that such sudden interest following a price surge often leads to a correction, presenting potential better entry points for investors.
Currently, POPCAT is trading at $0.853, reflecting a nearly 7% decline in the last 24 hours. Despite this, the crypto asset remains up by almost 14% over the past week, ranking 98th by market cap.
Additionally, Santiment notes a shift in sentiment among Bitcoin traders, particularly BTC bears, who have quieted down on social media following an unexpected rally by the leading cryptocurrency.
Bitcoin is currently priced at $67,409, with an over 8% increase in the last week, showcasing resilience in the market.
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