- Popcat’s buying and selling quantity surged over 500% after Hyperliquid DEX manipulation rumors, triggering greater than $63M in lengthy liquidations.
- An enormous $21M whale place was fully worn out as futures quantity spiked over 1100% and shorts took management.
- Popcat’s value crashed almost 20%, and if bulls fail to carry the $0.1029 assist, it may revisit sub-$0.10 ranges.
Solana’s feisty little memecoin Popcat ended up proper in the course of a market storm after its buying and selling quantity all of the sudden exploded greater than 500% in a single day. What ought to’ve appeared like a breakout rush as an alternative became chaos, because of contemporary allegations of manipulation occurring on Hyperliquid DEX. Solanafloor flagged the odd exercise first, and that was sufficient to spark full-on panic throughout the Solana neighborhood. One second Popcat was coasting close to $0.12… and the subsequent, your complete market was spiraling into liquidations and hypothesis.
Liquidations Hit Onerous — $63M Gone in Hours
The fallout got here quick. In accordance with Coinglass, greater than $63 million in lengthy positions acquired worn out in simply 4 hours. Practically all of it — round $62 million — got here from bullish merchants who have been overleveraged and acquired caught fully off guard. Shorts barely took a success in any respect, with solely $1.6 million liquidated on their facet, which simply exhibits how dramatically the lengthy crowd acquired squeezed.
Inside that mess was one brutal second: a single whale holding roughly $21 million was nuked solely. It ended up being the largest liquidation of the day outdoors Bitcoin and Ethereum markets — which actually says rather a lot about how violently Popcat’s futures reacted. Futures quantity skyrocketed over 1109%, reaching ~$1.2 billion, whereas open curiosity pushed up greater than 11% to hit $64 million. With the long-to-short ratio crashing to 0.89, shorts clearly took management and rode the volatility for quick income.
Popcat Worth Slides, Rankings Shift, and Memecoins Reshuffle
Even after the mud began settling, Popcat couldn’t stabilize. It slipped roughly 10% intraday to round $0.21 earlier than plunging even additional. The memecoin additionally fell out of Solana’s top-ten listing as others held up higher: Catinadogsworld (MEW) solely dipped barely, and the Melania token in some way pushed up 17% throughout the chaos. The reshuffle made one factor painfully clear — memecoins rise quick, however they’ll fall even sooner when credibility will get shaken.
Technically, the charts look tough. Popcat was rejected at $0.2127, then dumped almost 20% to $0.1324, abandoning a protracted higher wick that screams heavy distribution. The Donchian Channel higher band acted like a ceiling, and the median line round $0.1578 flipped into resistance after the autumn. Indicators aren’t serving to both: the MACD histogram has been narrowing (an indication of fading bullish energy), and the RVI hanging close to 56.9 suggests the market is caught in a bizarre post-volatility limbo.
Can Bulls Shield the $0.13–$0.10 Ground?
If Popcat needs any shot at restoration, bulls have to defend the $0.1029 stage. Dropping that ground may open the door to a deeper slide towards $0.085 — a zone the place the token consolidated earlier this month. On the flip facet, reclaiming $0.1578 would revive some short-term bullish power and perhaps arrange one other try at $0.2127 and even $0.24, the place the subsequent liquidity pocket sits.
But when manipulation fears preserve spreading, Popcat may simply dip again beneath $0.10 earlier than issues settle. And as we’ve seen many occasions in memecoin land, momentum can evaporate approach sooner than it varieties — particularly when whales begin transferring and retail will get spooked.
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