Bitcoin Overtaken By POPCAT: A Memecoin Supercycle In Sight?

Bitcoin no longer impresses as much with its dizzying rises, nor does it really surprise with its sudden drops, but it remains a solid player. However, it is on the side of memecoins that the surprise is total: their spectacular movements captivate investors. And while BTC stabilizes below $64,000, cryptos like POPCAT are exploding, fueling the thesis of a memecoin supercycle. Let’s get to the heart of the matter: could this growing divergence really signal a turning point for the entire crypto market?

Bitcoin and Unpredictable Volatility

All about bitcoin: despite its status as digital gold, it continues to intrigue with its unpredictable reactions to macroeconomic pressures. This week, after flirting with $64,000, it experienced a slight drop below $63,000, proof of its sensitivity to the derivatives markets.

Leverage usage across #crypto exchanges is soaring to new yearly highs. 📊 This signals a surge in high-risk bets as more investors dive into leveraged trades! pic.twitter.com/Pq8tpmKeQD

— Ali (@ali_charts) October 7, 2024

But what intrigues is the striking contrast with memecoins. While Bitcoin suffers from the throes of economic volatility, these whimsical cryptos seem to completely ignore the traditional storms.

• BTC reaches $64,000 on Monday;
• POPCAT jumps 50% in one week;
• POPCAT’s transaction volume up 130%.

The stability of memecoins during BTC’s sharp corrections is intriguing. POPCAT, for example, maintained its rise over five consecutive days, even when Bitcoin was plummeting.

While Bitcoin tries to withstand the pressures, memecoins are skyrocketing.

Memecoins in Full Swing

Meme cryptos, once relegated to speculative jokes, are proving their ability to shake up the market. POPCAT, with a 50% increase in one week, seems to be leading the way.

The trading volume of this crypto has jumped to $188 million in 24 hours, reinforcing the belief that a supercycle could be on the horizon. Tokens like SPX6900 are not lagging behind, with a phenomenal 200% increase in seven days.

This phenomenon is supported by strong accumulation of memecoin holders. The number of POPCATs withdrawn from wallets exploded, rising from 1.73 million to 5.33 million in one day. This buying frenzy demonstrates increased investor confidence, attracted by the controlled volatility of these assets in contrast to a Bitcoin buffeted by economic winds.

Thus, if meme cryptos continue to grow so spectacularly, systemic effects may well appear. An analyst had predicted as early as August that the explosion of memecoins could delay the altseason.