This market performance charts reveals two key insights. First it shows that the Solana memecoin sector has outperformed the broader crypto market average, which has seen over 5.5% losses in the last 3 days.

Secondly, Dogwifhat (WIF) and BONK, the two largest Solana memes have each seen over $100 million wiped off their market cap, with 5.1% and 7.7% losses respectively, within the weekly timeframe. However, crypto traders continue to allocate massive capital toward newly-launched meme tokens on the SOL blockchain.

Solana Memecoins: POPCAT, MEW, GOAT Technical Analysis

Consequently, 3 of the top 5 ranked Solana memes, POPCAT, Cat in a Dogs World (MEW) and Goatseus Maximus (GOAT), all launched in 2024 have managed to maintain a profitable status despite the market wide downtrend.

When such positive divergent trend emerges, it often attract more capital inflows, especially from strategic traders seeking out profitable opportunities during the market dip.

Below, technical analysis indicators explore the main bullish catalysts drive the 3 memes as well as the key resistance and support to watch in the days ahead.

POPCAT Price Forecast: Weakhands Wash Out Could Trigger $2 Breakout

POPCAT, launched in mid-2024, has been a standout token on the Solana network, gaining attention even amid the current market dip.Over the past week, POPCAT has shown remarkable strength posting 10.9% gains, as it bounced back quickly after a brief dip to maintain its upward trajectory.

At the time of writing on Oct 23, POPCAT is trading at around $1.41, slightly down from its recent high of $1.4875, as shown in the POPCATUSD daily chart below