In the opening week of 2026, whale activity around POPCAT surged dramatically. On-chain data reveals nearly $1 million in net inflows concentrated during this period, signaling serious institutional appetite for the token.

What's interesting is that retail investors haven't been left entirely behind—they're trickling back in with modest positions of their own. The timing matters here: POPCAT had just staged a near 100% climb from its recent lows, and whales clearly loaded up through most of that move.

This pattern tells you something. When the smart money drives 90% of a rally, then retail starts showing up, you're watching two different phases of accumulation unfold. Whales establish their core positions first, then the broader market gradually follows. Whether this builds into something larger depends on what happens next.