Popcat, a Solana meme coin, has experienced a significant decline in its market share and value. The price of the token has dropped by over 62%, resulting in a market cap of $762 million. This has caused Popcat to fall from the second-biggest Solana meme coin to the sixth, as it has been surpassed by other tokens such as Pudgy Penguins and Dogwifhat. The decrease in price is attributed to smart money investors selling their holdings and a rise in the number of Popcat tokens on exchanges, indicating increased selling activity. The vibrant nature of the Solana meme coin industry and the emergence of other popular tokens like Pudgy Penguins may have contributed to Popcat's decline. Technical analysis suggests further drops in the token's price, with bearish patterns indicating a potential target of $0.4470, about 42% below the current level.



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