The Rise of Cat-Themed Tokens in the Memecoin Sector
Date: 2024-04-01 Author: Henry Casey Categories: BLOCKCHAIN
Memcoin Rise and Market Dominance
The market capitalization of memcoins is rapidly approaching a record $70 billion, with tokens on the Solana blockchain continuing to demonstrate dominance, their total value has already exceeded $8 billion.
New Interest in Cat-Themed Tokens
Interestingly, in the memecoin sector, the greatest growth is not among such well-known tokens as DOGE, SHIB, BONK or WIF. New cat-themed tokens caught the attention of traders.
MEW growth on Solana Blockchain
The Cat in a Dogs World (MEW) token, recently launched on Solana, surged 110% shortly after launching this week. Within 48 hours of trading, its market capitalization reached an impressive $200 million.
Profitable Investments for Traders
According to analytics service Lookonchain, several early crypto traders made millions on the MEW token by starting trading with just 30 SOL. One of them managed to turn his $6,000 into $530,000 in just a couple of hours.
Searching for New Opportunities
The growing excitement around the MEW token and other cat-themed memcoins may indicate that memcoin enthusiasts are looking for new profitable opportunities during the bull market. This interest is also driving Solana's price, which rose nearly 70% in March.
