- POPCAT surges 22% after Coinbase listing, fueling strong investor interest.
- Solana co-founder sees memecoin craze evolving into blockchain-based “tech IPOs.”
After a significant downturn driven by the ongoing tariff war, the crypto market is showing signs of recovery, with the global market cap rising to $3.18 trillion—marking a 1.49% increase in the past day.
POPCAT steals the spotlight
While the broader market leans bullish, Solana [SOL]-based memecoin POPCAT has emerged as a standout performer, surging 22% following a major exchange listing.
At press time, POPCAT was trading at $0.3017, with a hike of 12.21% in the past 24 hours. It secured the second spot among trending cat-themed memecoins on CoinGecko.
This resulted in the cat-themed crypto sector surging to a $2.76 billion market cap, outpacing the dog-themed meme sector’s 5% rise.
What might be the reason behind this surge?
This surge came in as Coinbase added POPCAT to its spot listing roadmap. This alone is typically enough to bring a token into the spotlight.
However, in the case of POPCAT, the exchange also announced the launch of a perpetual contract for the token, triggering heightened buying pressure.
Community reacts
Remarking on the same, ‘The Solana Post’ took to X (formerly Twitter) and noted,
“ $POPCAT (@POPCATSOLANA) returns as the 9th top Solana memecoin according to market cap.”
Another X user added,
Source: Shah/X
What do the metrics say?
Both spot and derivatives markets signal strong investor confidence.
According to Coinglass data, POPCAT’s Futures Open Interest [OI] spiked by 12.07% to $161.26 million at press time, while derivatives trading volume skyrocketed nearly 37.59% to $952.10 million.
What lies ahead for Solana’s memecoin?
As expected, the ongoing Solana memecoin frenzy has sparked discussions among top industry figures. Solana co-founder Raj Gokal and leading crypto analysts predicts a transformative shift in the space.
They believe that the current memecoin craze is not just a passing trend but a precursor to a larger evolution—one that could pave the way for blockchain-based projects to mature into full-fledged “tech IPOs.”
