Is it Time to Exit POPCAT as Price Crash Looms

Popcat, the popular Solana-based meme coin, is showing signs of a bearish price action pattern on its daily time frame. If the coin closes a daily candle below the $1.15 level, it could see a decline of more than 20%. Traders have a strong bearish sentiment towards Popcat, as indicated by its Long/Short ratio of 0.92. On-chain metrics also support the negative outlook, with a drop in open interest suggesting that traders are either leaving their positions or facing potential liquidation. The current price momentum of Popcat shows a decline of over 7% in the past 24 hours, accompanied by a decrease in trading volume. These factors indicate that bears are currently dominating the asset and could drive its price down in the coming days.