Popcat (POPCAT)
Pure Solana memecoin based on the Popcat internet meme; zero utility, zero revenue, 100% sentiment and market cycle exposure
Ranked 231st of 251 rated tokens. Scoring pass 18 Sept 2026.
What the numbers say
POPCAT scores 73 of 250 across the 25-variable framework, which places it 231st of 251 rated tokens and inside the bottom 10% of the set. The framework verdict is PASS.
POPCAT is a top-10 name in the set on 3 variables. The score rests on Supply Inflation 9/10, 3rd of 251, Vesting Schedule 9/10, 8th of 251, Circulating / FDV Ratio 9/10, 10th of 251 and Social Mindshare 5/10, 41st of 251.
Against the same universe, POPCAT sits in the bottom third on Treasury Runway 1/10, 245th of 251, Developer Activity 1/10, 244th of 251, Competitive Moat 1/10, 242nd of 251 and Holder Concentration 2/10, 240th of 251. These are the variables that would have to move for the verdict to change.
100% of eventual supply is already circulating, so vesting is not a live risk for POPCAT. Price has to be justified by demand rather than absorbed against a cliff.
POPCAT trades 97.7% below its all-time high of $2.05. Recovering that level is a 43.5x move, not a 97.7% one, which is the arithmetic most drawdown charts hide.
The framework score gained 8 points against the previous pass (65 to 73). Revisions of this size follow a change in the underlying variables, not a change in price.
Every variable POPCAT scores 7 or better on is one the market does not currently charge for: Supply Inflation and Vesting Schedule. On the evidence, none of what this token is good at is reflected in what it costs, which is the entire case for owning it and the entire reason it may stay cheap. It is weak on Active Users, Market Share, Institutional Adoption and Catalyst Calendar, which the market does price, so that damage is already done and visible in the valuation.
25-variable breakdown
Each variable is scored 1 to 10 and ranked against every other rated token, so a 7 that ranks 20th means something different from a 7 that ranks 180th. The rank is the part that is hard to get anywhere else.
Cash flow
| Protocol Revenue | 1 | 221st of 251 | |
| Revenue Trend | 1 | 231st of 251 | |
| P/S Multiple | 1 | 234th of 251 | |
| Real Staking Yield | 1 | 226th of 251 |
Supply
| Supply Inflation | 9 | 3rd of 251 | |
| Vesting Schedule | 9 | 8th of 251 | |
| Circulating / FDV Ratio | 9 | 10th of 251 | |
| Buyback and Burn | 1 | 205th of 251 |
Ownership
| Smart Money Flows | 2 | 217th of 251 | |
| Insider Selling | 4 | 151st of 251 | |
| Holder Concentration | 2 | 240th of 251 |
Traction
| TVL Trend | 1 | 229th of 251 | |
| Active Users | 3 | 149th of 251 | |
| Developer Activity | 1 | 244th of 251 | |
| Network Growth | 2 | 215th of 251 |
Position
| Market Share | 3 | 131st of 251 | |
| Competitive Moat | 1 | 242nd of 251 | |
| Institutional Adoption | 1 | 238th of 251 | |
| Exchange Depth | 4 | 157th of 251 | |
| Social Mindshare | 5 | 41st of 251 |
Risk
| Regulatory Safety | 4 | 213th of 251 | |
| Catalyst Calendar | 2 | 222nd of 251 | |
| BTC Alpha Potential | 3 | 114th of 251 | |
| Team Execution | 2 | 230th of 251 | |
| Treasury Runway | 1 | 245th of 251 |
The vertical tick on each bar marks the median score across all 251 rated tokens, so a bar ending left of the tick is below the universe on that variable.
Catalyst and risk
Next catalyst
Solana memecoin season revival in next bull market peak
Principal risk
All memecoins revert to near-zero in bear markets; POPCAT is already down 96.8% from ATH with no fundamental support
Market and supply
| Price | $0.0479 |
| Market cap | $46.9Mrank 502 |
| All-time high | $2.0517 Nov 2024 |
| Circulating supply | 979,978,670 |
| Eventual supply (max supply) | 979,978,694 |
| Dilution to full supply | 1x |
| Listed on | Bybit, OKX, Raydium |
Price, market cap, supply and all-time high from CoinGecko, fetched 7 Oct 2026. The 25 scores come from the research pass dated 18 Sept 2026 and don't move with price.
Tokens with a similar profile
These are the closest matches to POPCAT measured on the shape of all 25 variables after removing overall quality, so what they share is a pattern of strengths and weaknesses rather than a similar size or price.
POPCAT compared head to head
Both sides of each comparison were scored by the same framework in the same pass, so the gap between them is a measurement rather than two readings taken with different rulers.
Sources
- [CoinGecko] POPCAT reached $1.79 ATH in November 2024 during Solana memecoin season before declining 96.8%
- [CoinMarketCap] Popcat is a Solana-native memecoin with 100% circulating supply and no founding team wallet
- [Dune Analytics] Solana memecoin trading volume collapsed 80%+ from Nov 2024 peak by Q2 2025
Common questions
- What is the Early Thunder score for Popcat (POPCAT)?
- POPCAT scores 73 out of 250 on the 25-variable framework, ranking 231st of 251 rated tokens (bottom 10%). The framework verdict is PASS.
- What are POPCAT's strongest fundamentals?
- POPCAT ranks highest on Supply Inflation 9/10, 3rd of 251, Vesting Schedule 9/10, 8th of 251, Circulating / FDV Ratio 9/10, 10th of 251 and Social Mindshare 5/10, 41st of 251. Ranks are measured against all 251 tokens in the same scoring pass.
- What are the weakest parts of the POPCAT thesis?
- POPCAT scores in the bottom third of the universe on Treasury Runway 1/10, 245th of 251, Developer Activity 1/10, 244th of 251, Competitive Moat 1/10, 242nd of 251 and Holder Concentration 2/10, 240th of 251. The single risk carried on the scorecard is: All memecoins revert to near-zero in bear markets; POPCAT is already down 96.8% from ATH with no fundamental support
- How much POPCAT supply is still to enter circulation?
- 100% of eventual POPCAT supply is circulating today, leaving 1x the current float still to arrive. At a flat price per token that is 0% of fully diluted value ahead of current holders.
- How far is POPCAT from its all-time high?
- POPCAT trades 97.7% below its all-time high of $2.05. Returning to that high requires a 43.5x move from the level used in this scoring pass.
- Which tokens have a similar profile to POPCAT?
- Measured on the shape of all 25 scored variables rather than on price, the closest matches to POPCAT are DOGS (62), NOT (73), ORDI (96) and WIF (88). Similarity here means the same pattern of strengths and weaknesses, not a similar market cap.
- What is the next catalyst for POPCAT?
- Solana memecoin season revival in next bull market peak
Keep reading
Research and analysis, not investment advice. Scores are one framework applied consistently across 251 tokens, not a prediction of price.