Popcat (SOL) (POPCAT) is a memcoin based on one of the most popular memes with cats

One of the most popular cryptocurrencies based on cat memes is the Popcat memcoin, which will be discussed in this article.

What is Popcat?

Popcat (SOL), with the ticker POPCAT, is a memcoin based on the popular internet meme Pop Cat (also known as Wide-Mouthed Popping Cat) — a cat that opens its mouth wide to various music tracks. This meme appeared in October 2020: a user posted two images of his cat named Oatmeal on a little-known Discord server, the first normal and the second with a photoshopped sizeable open mouth.

The meme became popular only after some time, namely after one user posted a tweet with a clip of the bizarre Oatmeal opening his mouth to the sounds of "boop" and "pop" (reminiscent of smacking lips — which, incidentally, is where the name of the meme came from: "Pop Cat"). Only after this tweet the Oatmeal cat meme went viral quickly.

The POPCAT token based on this meme was issued in December 2023 on the Solana blockchain in SPL format for several reasons:

1. The Solana blockchain has been rapidly gaining popularity and has become one of the fastest-growing ecosystems between 2023 and 2024. In addition, the Solana project has recently become one of the four largest cryptocurrencies in capitalization, surpassing Binance Coin and Ripple and behind only Bitcoin, Ethereum, and Tether as of August 2024. Analysts predict that Solana could take its place in the top three, overtaking the USDT stablecoin — one of the reasons why more and more developers have started issuing their tokens on the Solana blockchain;
2. The Solana ecosystem has become particularly popular for issuing memcoins following the success of the sensational Bonk token, which attracted a lot of attention after a significant giveaway of its asset to Solana Saga smartphone owners;
3. Finally, Solana is one of the most performant and cheapest networks regarding transaction costs, making it even more attractive to token creators and users.

What are the drawbacks of the Popcat token?

First, the POPCAT memcoin has a few use cases: all users can do with this token is buy, sell, and add to liquidity pools. However, most tokens on the DeFi market have these uses.

Secondly, Popcat is exclusively linked to the Solana ecosystem, so the token's success will directly depend on its development. As long as Solana grows, it will positively impact the memcoins that belong to its ecosystem. However, in a reverse scenario, tokens like POPCAT will likely "go down" along with the Solana ecosystem, although no factors indicate this possibility shortly, at least.

The third disadvantage is the primitive website, which is filled mostly with memes featuring a "wide-open mouth" cat. There is also no practical information about the token and its creators, which is not uncommon for assets of this kind.

However, one of Popcat's advantages is that the site presents tokenomics, according to which 100% of tokens are owned by the community. Without proper audits, this information can neither be confirmed nor denied, as anyone can anonymously create wallets. This means the Popcat team could easily send tokens to many of their wallets.

Does the Popcat memcoin have a future?

The popularity of any memcoin is based mainly on the community's interest, so the creators of such tokens need to constantly draw attention to themselves through the media and social networks, as these are the most popular channels for promoting such digital assets.

The success of memcoins strongly depends on trends: at any moment, it can change, which will have a corresponding impact on the dynamics of this type of digital asset. At the same time, it should be noted that since its launch in 2023, the POPCAT token has demonstrated predominantly positive dynamics, which not every altcoin can boast of.

If the trend for memcoins continues, the POPCAT token has every chance to bring income to its investors, especially if the Solana ecosystem also demonstrates positive dynamics against this background. However, one should not underestimate the risks of investing in highly volatile assets like memcoins. Besides, it is 100% unknown that no unpleasant surprises can be expected from the Popcat team, as Rug-Pull in the crypto market is quite a frequent phenomenon.