What Is Popcat? POPCAT Token Price, Solana Meme Coin Overview & Trading Guide

In October 2020, someone posted two photos of a cat named Oatmeal on Discord. One had its mouth closed. The other was edited to show the mouth in an exaggerated "O" shape. Toggle between them fast enough and it looks like the cat is making a popping sound.

That image became one of the most recognizable internet memes of the early 2020s. It spawned a global clicker game, Instagram edits synced to music, Roblox integrations, and brand posts from major corporations. Then in December 2023, it became a meme coin on Solana.

POPCAT went from a $200,000 market cap to over $2 billion at its peak. It was the first cat-themed crypto token to cross $1 billion in market capitalization on any blockchain. A community takeover, a Binance listing, and Solana's meme coin explosion fueled the run. Today POPCAT trades at approximately $0.05, down 97% from its $2.06 all-time high, with a market cap around $50 million.

👉 Trade POPCAT on Phemex →

Where Did the Popcat Meme Come From?

The Popcat meme started in October 2020 when a Discord user shared photos of his domestic short-haired cat, Oatmeal. Another user edited the second image so the cat's mouth formed a wide "O" shape. Rapidly switching between both images created a visual "popping" effect.

The meme spread to Reddit, Instagram, and Twitter. Creators synced the images with music tracks, making it look like Oatmeal was singing. It became a template for endless remixes.

Then came popcat.click, a browser-based clicker game launched in December 2020. Users clicked on Oatmeal's face to generate "pops," with each click contributing to their country's total on a global leaderboard. Nations competed to rack up the highest score. The game generated hundreds of billions of clicks and brought the meme to mainstream attention outside of crypto-native circles.

The meme also appeared in Roblox, mobile games, and knock-off versions across multiple platforms. By the time POPCAT launched as a crypto token, Oatmeal already had years of built-in internet recognition.

How Did POPCAT Become a Token?

POPCAT launched on the Solana blockchain in December 2023. The token was created on Raydium with a straightforward structure. 93.1% of the supply went to the liquidity pool, with the LP tokens burned to make that liquidity permanent. The remaining 6.9% was held in a multi-signature wallet reserved for exchange listings, additional liquidity, and bridges. No taxes on buys or sells. No staking. No complex mechanics.

The early history was messy. The original developer attempted to launch an NFT collection and raise 5,000 SOL for himself, threatening to deface the token's metadata if the community did not comply. In December 2023, a group of holders pushed back. An artist and collector known as Jpeggler purchased the token update and social media rights from the developer for $35,000 USDC, effectively completing a community takeover (CTO).

That CTO became the turning point. With the original developer removed and community leadership in place, POPCAT's price began climbing. By May 2024, the market cap had grown from $200,000 to over $230 million, making it the third most viral meme coin on Solana at the time.

Like MOODENG, 100% of the supply is already circulating. No vesting, no team drip. The LP burn means the original liquidity cannot be pulled. These structural decisions removed two of the most common rug pull vectors in meme coins.

How Did POPCAT Reach a $2 Billion Market Cap?

The timeline from near-zero to $2 billion took about 11 months.

Several catalysts drove the run. Solana's meme coin ecosystem exploded in 2024, with BONK, WIF, and POPCAT leading the pack. POPCAT benefited from the "cat coin" narrative as traders looked for alternatives to dog-themed tokens. The community takeover story resonated with Solana degens who valued decentralization and fair launches. And major exchange listings (Binance Futures in particular) brought fresh liquidity.

POPCAT was the third Solana meme coin to reach a $1 billion market cap, after BONK and WIF. It was the first cat-themed token to reach that milestone on any blockchain.

How Does POPCAT Compare to Other Solana Meme Coins?

POPCAT sits in the second tier of Solana meme coins by current market cap. It peaked higher than MOODENG but has bled more on a percentage basis. The CTO story and burned LP give it better structural credibility than many competitors, but the drawdown from $2 billion to $50 million is severe.

The cat coin thesis is simple. Dogs dominated meme coins for years (DOGE, SHIB, BONK, WIF, FLOKI). Traders bet that cats would have their turn. POPCAT was the primary vehicle for that bet. The thesis played out in 2024 but has not sustained into 2026.

How to Trade POPCAT

POPCAT is available on most major exchanges.

Via Phemex

Phemex lists POPCAT/USDT for spot trading.

1. Create a Phemex account and complete verification

2. Deposit USDT or purchase with fiat

3. Search for POPCAT/USDT in spot trading

4. Place your order (market or limit)

Via Other Exchanges

POPCAT trades on Coinbase, Bybit, Gate.io, KuCoin, BingX, and WEEX among others. Bybit carries the highest centralized exchange volume. Binance supports POPCAT through its futures market and Alpha program.

On-Chain (Solana DEX)

You can swap SOL for POPCAT on Jupiter or Raydium using a Phantom or Solflare wallet. Solana gas fees are under $0.01 per transaction. Verify you are swapping the correct POPCAT token through official channels before confirming.

What Are the Risks?

97% drawdown from ATH. POPCAT went from $2.06 to $0.05 in about 14 months. Most meme coins that drop this far do not recover to previous highs. Some do. There is no way to predict which category POPCAT falls into.

No utility beyond meme culture. POPCAT has no protocol, no DeFi integration, no staking rewards, and no revenue model. Plans for NFT integration and an on-chain arcade have been mentioned but not shipped. The token's value comes entirely from community engagement and speculative interest.

Meme fatigue. The Popcat meme originated in 2020. The token launched in 2023. The market cap peaked in 2024. Each cycle of attention produces diminishing returns unless a new catalyst emerges. Without fresh narrative fuel, the baseline level of interest erodes.

Whale concentration. On-chain data shows concentrated holdings among top wallets. Wintermute held more than 6% of supply at various points during 2024. Large holders selling can move the price dramatically in a thin-liquidity environment.

Solana meme coin competition. Dozens of meme coins compete for the same pool of Solana speculative capital. POPCAT has to compete with BONK, WIF, MOODENG, MEW, GOAT, and whatever new token goes viral next week. Attention in this space is zero-sum.

Frequently Asked Questions

What is Popcat (POPCAT)?

POPCAT is a Solana-based meme coin inspired by the viral Oatmeal cat meme from 2020. It launched in December 2023 and became the first cat-themed crypto to reach a $1 billion market cap.

What happened with the POPCAT community takeover?

The original developer attempted to extract value through an NFT scheme. Community members removed him by purchasing the token update and social media rights for $35,000 USDC. The project has been community-led since December 2023.

What is POPCAT's total supply?

Approximately 980 million tokens. All are currently in circulation. 93.1% went to the liquidity pool (LP tokens burned), and 6.9% is held in a multi-sig wallet for exchange listings and bridges.

Where can I trade POPCAT?

POPCAT is available on Phemex, Coinbase, Bybit, Gate.io, KuCoin, and on Solana DEXs like Jupiter and Raydium.

Is POPCAT the same as the Popcat clicker game?

No. The POPCAT token is inspired by the same Oatmeal cat meme that spawned the popcat.click game, but there is no formal connection between the game and the crypto token.

Bottom Line

POPCAT had one of the most impressive meme coin runs in 2024. From a community takeover at $200K market cap to a $2 billion peak as the first cat coin to cross $1 billion. The burned LP, zero taxes, and fully circulating supply gave it better structural fundamentals than most meme coins.

But 97% drawdowns are hard to come back from. The meme is six years old. The token has no revenue-generating product. And Solana's meme coin market rotates attention fast.

If you trade POPCAT, you are betting that cat coins have another run in them, and that POPCAT's brand recognition and CTO story give it an edge when the rotation comes back. That is a momentum trade. Size it like one.

This article is for informational purposes only and does not constitute financial or investment advice. Meme coins carry extreme volatility and potential for total loss of capital. Always conduct your own research before making investment decisions.