Popcat (POPCAT) is a Solana memecoin named after the "Pop Cat" internet meme, the looping image of a cat called Oatmeal snapping its mouth into a wide O. The token launched in December 2023 with a fixed supply of 979,979,000 POPCAT, no team allocation and burned liquidity, and at its November 2024 peak it was worth more than $2 billion. As of September 2026 it trades near $0.056 for a market capitalization of roughly $55 million, according to CoinGecko.
That gap between peak and present is typical of the category. What sets Popcat apart is where it started: the meme was already one of the most-clicked jokes on the internet three years before anyone put a ticker on it.
A Meme Before It Was a Market
The coin borrowed a character with a global fan base. In October 2020 a Discord user posted a clip of their cat Oatmeal chirping at a bug, friends edited a frame into the open-mouth version, and the two-frame "pop" went viral on Reddit and then Twitter within days. The Wikipedia entry on Popcat traces the rest: in December 2020 three University of Sheffield students built popcat.click, a browser game where every tap pops the cat's mouth and adds a point to your country's leaderboard.
The game turned a joke into a contest. In August 2021 Taiwan, Thailand and Malaysia fought for the top of the global board, players ran auto-clickers overnight, and Google later listed it among the top trending games of the year. Hundreds of millions of people had pressed that cat before POPCAT existed.
For a memecoin, that history is the product. Most tokens in the sector have to manufacture recognition. POPCAT inherited it, including a strong following in Southeast Asia, which later showed up in its trading base. The full backstory, from Oatmeal's Discord clip to the clicker wars, sits in our piece on the Popcat meme origin.
How POPCAT Launched and Who Holds It
POPCAT went live on Raydium, the main Solana decentralized exchange at the time, with a single distribution event and no follow-up emissions.
| Detail | Figure |
|---|---|
| Launch | December 2023, Raydium (Solana) |
| Total and max supply | 979,979,000 POPCAT |
| Circulating supply | ~979.98 million (effectively 100%) |
| Liquidity pool at launch | 93.1% of supply, LP tokens burned |
| Reserve multisig | 6.9% for listings, liquidity and bridges |
| Team or VC allocation | None |
The design has two consequences traders should keep in mind. First, market capitalization and fully diluted value are the same number, so there is no unlock calendar to watch. Second, there is no treasury, no staking yield and no burn to support the price. Demand comes from attention alone. Our breakdown of POPCAT tokenomics walks through the supply split and the concentration numbers in detail.
The token's contract address on Solana is 7GCihgDB8fe6KNjn2MYtkzZcRjQy3t9GHdC8uHYmW2hr, which you can verify on Solscan. Anyone buying on-chain should check that address, because copycat "Popcat" tokens exist on several chains.
The 2024 Run and the Long Drawdown
POPCAT spent its first months as a small cap, bottoming near $0.0038. Through 2024 it climbed with the wider Solana memecoin cycle that also carried BONK and dogwifhat, and it rode the "cat season" rotation when traders moved from dog tokens into feline ones. It printed an all-time high of roughly $2.05 on 17 November 2024, briefly ranking among the hundred largest crypto assets.
The decline since then has been steep and fairly orderly. Memecoin volume fell through 2025 as launchpad saturation diluted attention, and POPCAT lost more than 97% of its peak value. It is worth reading that number against the category rather than in isolation: most Solana memecoins from the same cycle show drawdowns in the 90% to 98% range.
Two events stand out from the drawdown years:
- November 2025: a trader used POPCAT perpetuals on Hyperliquid to engineer a spoofed pump and crash, leaving that venue with about $4.9 million in bad debt, as CoinDesk reported. We cover the mechanics in the POPCAT Hyperliquid attack explained.
- March 2026: a listing on a major Thai exchange widened access in the market where the popcat.click craze had been strongest.
By late August 2026 chart watchers were noting a break above a year-long descending trendline, with price holding in the $0.05 to $0.08 range through September.
What Drives POPCAT's Price
POPCAT has no revenue, so its price is a sentiment gauge with a few identifiable inputs.
Solana risk appetite
POPCAT trades as a high-beta slice of the Solana memecoin complex. When SOL rallies and on-chain volume rises, POPCAT tends to move more than SOL in both directions.
The cat-versus-dog rotation
Traders treat cat tokens as a basket that competes with dog tokens for the same speculative capital. The dynamics of that trade are covered in our look at cat vs dog memecoins, and POPCAT's closest rival is compared head to head in MEW vs POPCAT.
Liquidity and derivatives
Most of POPCAT's turnover happens on centralized spot and perpetual markets rather than on-chain. Depth is modest for a token of its profile, which is why funding rates and open interest can swing hard and why a large order moves the price. Those same features shape POPCAT trading strategies that favor tight risk limits.
Analysts' long-range forecasts vary widely, and none of them are reliable for an asset like this. The ranges and the assumptions behind them are laid out in our POPCAT price prediction.
Storing and Trading POPCAT
POPCAT is a standard SPL token, so any Solana-compatible wallet can hold it. Browser and mobile wallets built for Solana handle it natively, and hardware wallets that support Solana can secure it offline. Our guide to the best POPCAT wallets compares the main options by security and convenience.
Traders who want exposure without on-chain custody can buy it on an exchange spot market or use perpetual futures to go long or short. Leverage on a token with this volatility cuts both ways, so sizing matters more than direction. Whether the token deserves a place in a portfolio at all is weighed in is POPCAT a good investment.
Frequently Asked Questions
What is Popcat crypto?
Popcat (POPCAT) is a memecoin on Solana based on the viral Pop Cat meme of a cat named Oatmeal. It launched in December 2023 with a fixed supply of 979,979,000 tokens and has no utility beyond community and trading. Its value depends entirely on market demand.
Who created the POPCAT coin?
POPCAT was launched anonymously on Raydium, and the developers have never been publicly identified. The meme itself belongs to its original creators and was not made for crypto. The token is community-run, with no company, foundation or team allocation behind it.
Is POPCAT on Solana or Ethereum?
POPCAT is a Solana SPL token with the contract address beginning 7GCih. Tokens named Popcat on Ethereum or other chains are separate, unrelated assets. Always confirm the Solana address before buying on-chain.
How many POPCAT tokens are there?
There are 979,979,000 POPCAT in total, and virtually all of them are circulating. No new tokens can be minted, and no vesting unlocks remain.
What was POPCAT's all-time high?
POPCAT reached an all-time high of about $2.05 on 17 November 2024. As of September 2026 it trades roughly 97% below that level.
Can you short POPCAT?
Yes, POPCAT perpetual futures let traders take short positions without owning the token. Perpetuals carry funding costs and liquidation risk, and learning how to short cryptocurrency safely is worth doing before opening one.
Why a Clicker Game Still Matters
POPCAT's edge over most memecoins is recognition that predates the token by three years and spans continents. That does not create cash flow, and it did not stop a 97% drawdown. It does mean that when speculative money returns to Solana memes, POPCAT is one of the few names a new trader already knows, which is the only kind of moat a memecoin can have.
The practical reading for traders: treat POPCAT as a liquid, volatile sentiment instrument tied to Solana and to the cat-token rotation, size positions accordingly, and keep an eye on derivatives data, since that is where its biggest moves have started.
Buy POPCAT on the LeveX spot market to hold it, or open long and short positions with POPCAT perpetual futures. For more quick explainers on the tokens you trade, head to Crypto in a Minute.