POPCAT Soars 9,405% in 2024, Analysts Say $5 Possible by U.S. Elections

• Solana-based meme coin POPCAT has surged to an all-time high of $1.67.
• Crypto Analyst Murad predicts a 225% rally, targeting $5.
• US election outcomes may impact POPCAT’s bullish trend.

POPCAT, a Solana-based meme coin, has surged 9,405% in 2024, flipping BONK to become the 53rd largest cryptocurrency and 5th within the meme sector.

Market analyst Murad has identified this uptrend and predicts a potential breakout, a pattern POPCAT has repeated at least seven times since March.

Murad also made a notable observation in that the US presidential election may act as a catalyst, potentially pushing POPCAT toward a $5 target. POPCAT reached an all-time high of $1.67 last month.

The analyst’s prediction is based on the “steady accumulation” in POPCAT’s price action, which he says provides a strong foundation for growth. Despite market volatility, POPCAT has maintained its trendline, showing resilience.

As speculation grows around the election’s impact on meme coins, Murad’s prediction for POPCAT suggests significant potential movement, especially if POPCAT breaks through its trendline resistance in early November.

Read also: Popcat (SOL) POPCAT Price Prediction 2024-2030: Will POPCAT Hit $5 Soon?

Analyst Predicts POPCAT’s Price Discovery Phase

With regard to the broader context, another analyst hints at POPCAT finally entering “true price discovery,” a phase in which the asset could see rapid growth beyond its established patterns.

This potential for price discovery makes POPCAT a compelling watch for investors, as it could unlock new levels of demand if the breakout materializes. 

Furthermore, the speculative nature of meme coins could drive more interest in POPCAT, especially as it approaches the ascending trendline.

Investors and traders are watching the resistance at this trendline and the potential impact of the election. If Murad’s predictions are correct, POPCAT could climb towards $5.