POPCAT has emerged as one of the top-performing altcoins in the market, gaining 37% in the last 24 hours and delivering over 41% in returns to investors over the past month. The recent momentum, combined with growing whale activity across major exchanges, is fueling expectations of a major breakout.

While the asset is flashing strong bullish signals, rising selling pressure from spot traders could act as a headwind that slows or even stalls the potential for a full 3x rally.

Technical Breakout Signals Strong Upside Potential

After a period of downward consolidation, POPCAT has successfully broken out of a descending price channel. This technical pattern often signals a trend reversal and can be the foundation for a sustained rally.

Should this upward momentum hold, POPCAT may climb to $0.9822—representing a potential 370% price increase from recent levels. Some longer-term forecasts project the asset could reach as high as $2.08 if bullish market conditions persist.

However, analysts note that price growth is unlikely to be continuous. Retracements and periods of consolidation are expected as short-term traders realize gains and fresh capital enters the market.

Whales Push Open Interest Past $80 Million

On-chain data from Coinglass shows that major investors are backing the rally. The current long-to-short ratio of 1.0513 suggests a bullish market sentiment, with long positions slightly outpacing shorts.

A deeper look at derivatives positions reveals that whales are heavily involved. High-volume traders from platforms including Binance, Bybit, and Hyperliquid currently hold more than $80.7 million in active positions, making up a significant portion of the total $127.89 million Open Interest.

These large players are placing clear bullish bets, and their influence is already being felt. Over the last 24 hours, short sellers have lost more than $1.24 million due to liquidations—highlighting the strength of the uptrend.

Whale participation at this level typically reflects strong institutional or professional trader confidence in the asset’s upward trajectory, often serving as a leading indicator for broader market moves.

Spot Traders Begin Locking In Profits

Despite strong signals in the derivatives market, a different trend is emerging among spot traders. Exchange netflow data reveals that nearly $850,000 worth of POPCAT has been moved onto centralized exchanges, likely in preparation for selling.

This uptick in exchange deposits is often associated with profit-taking, especially after a significant short-term rally. Long-term holders may be moving their assets from wallets to exchanges to secure gains.

While this behavior is normal in rapidly rising markets, sustained selling pressure from spot participants can cap upward momentum and delay the next leg of the rally.

A Tipping Point for POPCAT’s Trajectory

Whether POPCAT achieves its full breakout potential will depend on the balance between whale-driven momentum and spot market behavior. If the current pace of selling from spot traders continues, it could dampen the bullish breakout—even as larger players continue to push prices higher.

Conversely, if retail sentiment improves and more spot traders decide to hold or re-enter the market, it could align the market’s two major segments and unlock the conditions needed for another leg up.

Conclusion

POPCAT is showing impressive signs of strength as it exits a prolonged downtrend and finds strong backing from whales who have committed over $80 million in long positions. Technical patterns and derivatives data support a potential 3x surge, putting POPCAT firmly on the radar for traders and investors.

Still, cautious selling from spot traders could create near-term resistance. How the asset performs in the coming days may hinge on whether this selling slows—or if broader retail sentiment begins to support the rally more aggressively.