A number of cat-themed meme cash are trending on CoinGecko, with some recording three-digit positive aspects over the previous week.
Whereas the general crypto market is seeing a short liquidation, as merchants are taking earnings from main property like Bitcoin and Ethereum – the meme coin market continues to achieve new heights. The meme coin market cap elevated by 4% at this time, regardless of the general crypto market cap dipping by 1.5%.
New presale tokens are largely driving this meme coin rally as traders proceed to search for new initiatives, after the latest success of BOME and Slerf. Nevertheless, cat-themed tokens appear to be experiencing excessive curiosity throughout social media.
CAT token, one of many oldest cat-themed meme cash, reached a brand new all-time high at this time after rallying 430% in a day and over 1,000% since final week. The token’s surge is probably going as a consequence of random hype on social media, as meme coin merchants place their bets throughout a number of property.
One other cat-themed token Chonk The Cat (CHONK), launched with a presale final week and surged almost 200% since then. Most just lately, the MEW token launched earlier at this time and noticed a number of FOMO buying and selling actions throughout the board.
MEW rallied after being listed by Poloniex after its launch, which noticed few merchants turning small investments into tens of millions. In keeping with Lookonchain, one person invested $35,000 value of SOL on MEW, seeing a $8.9 million return in simply two hours.
Nevertheless, FOMO buying and selling additionally noticed one dealer lose over $200,000 as MEW dropped 54% after hitting its peak.