In the world of cryptocurrency, meme coins have been making waves lately. Popcat, a relatively new player in the market, has seen its value skyrocket by 90% in just 14 days. This surge has left established meme coins like Dogecoin (DOGE) and Shiba Inu (SHIB) in the dust, with both experiencing significant price declines.

Popcat's impressive performance has been attributed to its recent listing on the Bybit exchange, which has led to increased trading volume and a surge in price. The token's total supply stands at 979.98 million POPCAT, and it is currently trading at $0.5844. Despite its impressive gains, Popcat still has a long way to go to reach its all-time high of $0.6840, which was recorded on May 4.

Meanwhile, DOGE and SHIB have been struggling to gain traction. Both coins have been trading sideways, with their prices closely tied to Bitcoin's recent lackluster performance. According to data from IntoTheBlock, the price movements of these meme coins are strongly correlated with Bitcoin's, which has led to their underwhelming performance. Technical analysis also suggests a bearish outlook for both DOGE and SHIB, with declining network growth and weak investor confidence.

Despite their current struggles, both DOGE and SHIB have relatively healthy market value to realized value ratios, indicating that holders are still profitable. However, their potential for recovery depends on a strong rebound in the broader cryptocurrency market. Shiba Inu has also seen a significant increase in its burn rate, with over 29 million SHIB tokens destroyed in the past 24 hours, sparking optimism among investors.

In conclusion, the meme coin market is highly volatile, with Popcat's surge and DOGE and SHIB's struggles serving as a reminder of the risks and rewards associated with investing in these tokens. As the market continues to evolve, it remains to be seen whether Popcat's impressive gains will be sustained and whether DOGE and SHIB will be able to regain their footing. One thing is certain, however: the meme coin mania is here to stay, and investors would do well to keep a close eye on these tokens.