As Solana meme cash proceed dominating the bull market, merchants are shifting to a brand new area of interest of cat-themed tokens.
The meme coin market cap has elevated by 9% at present, reaching practically $70 billion. Inside this sector, the market cap of Solana meme cash has elevated by over 20% at present, exceeding $8 billion.
Nevertheless, the highest gainers within the meme coin market at present aren’t the preferred tokens like DOGE, SHIB, BONK, and even WIF, which reached a brand new all-time excessive. As a substitute, it’s a brand new class of cat-themed tokens.
Cat in a Canine World (MEW), one of many newest Solana-based cat meme tokens, rallied by 110% at present after launching earlier this week. Inside simply 48 hours of buying and selling, the token reached a $200 million market cap.
Lookonchain says a number of early merchants have made tens of millions with MEW, beginning buying and selling as little as 30 SOL. One dealer turned a $6,000 funding into $530,000 in hours. The hype behind MEW appears to be shifting pursuits, as meme cash fans always search for the following promising presale within the bull market.
The rising curiosity in meme cash drives Solana’s market efficiency, because the altcoin gained practically 70% in March.