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Popcat (POPCAT) whales buy near all-time high

Author: Content Editor
The cryptocurrency token Popcat (POPCAT) has reached an all-time high, drawing the interest of whales who have been buying up more tokens. This has sparked speculation that the POPCAT meme could continue its rally. With a market capitalization exceeding $1 billion, POPCAT has established itself as one of the top tokens on the Solana blockchain. Following a period of hype and accumulation, POPCAT experienced a breakout and set a series of price records. The recent success of DogWifHat (WIF), another meme token, also saw concentrated buying from whales. POPCAT's trading volume has exceeded $178 million in the past 24 hours, with whales also showing interest in smaller, riskier tokens. The POPCAT community has shown loyalty to the token, even during significant drawdowns. Despite not being listed on Binance, POPCAT has had significant liquidity through other exchanges and decentralized pairs. While the cause of the recent POPCAT frenzy is unclear, a social media message suggesting a Binance listing may have fueled the rally. However, a failure to gain a listing or a loss in value could cause buyers to move on to other memes. The token distribution of POPCAT is widespread, with Bybit holding the largest share. The accumulation of POPCAT in Kamino Reserve wallet suggests that a whale is buying up the token and using it as collateral to borrow more USDC for further meme buying. This strategy was successful with WIF and may continue with POPCAT in the near future.

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