Cat-Themed Memecoins Growing Popularity: Traders Earn Millions With MEW and MOEW
2024年4月5日 - 11:00AM
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The memecoin market has been dominated by dog-themed tokens for the
past few years. Despite not being as popular and well-known as
their canine crypto counterparts, cat-themed tokens are starting to
appear at the forefront of the meme-inspired market. Related
Reading: Memecoins Reign Supreme: CoinGecko Reveals Most Profitable
Crypto Narrative Of Q1 Cats In A Dogs Crypto Market Memecoins can
become a market sensation overnight, and their communities can be
some of the most supporting investors, as seen with the Vegas
Sphere “wif on sphere” fundraiser campaign. Dogecoin and Shiba Inu
remain the biggest tokens by market capitalization in this
category. About a month ago, eight of the ten largest memecoins by
market capitalization were canine-inspired. Nonetheless, cat-themed
tokens have started infiltrating the pack of dogs after a recently
launched player made it to the top ten memecoins list. Cat in a
Dogs World (MEW) launched on March 26 and just 48 hours later
reached a $200 million market cap. MEW surpassed BONK, WIF, and
PEPE as the fastest fair launch to accomplish this feat. MEW’s
market cap reached $644 million in just eight days, making it the
eighth largest memecoin by this metric. Moreover, the token rallied
over 50% on Wednesday after crypto exchange KuCoin announced its
listing. Cat in a dogs world among the top 10 memecoins. Source:
CoinMarketCap MEW’s performance in the past seven days shows an
impressive 267.54% surge. Despite this, the token’s rally slowed
down today. The cat-themed cryptocurrency lost over 15% of its
value from the day prior. At writing time, MEW is trading at
$0.00737049. Similarly, its daily market activity took a hit,
decreasing 35.3% to $208.4 million traded in the past 24 hours.
What Are They Feeding Cat-Themed Memecoins? The growing interest in
feline-inspired tokens has resulted in many newly launched
memecoins quickly surpassing massive levels. On Wednesday, a new
token called Ansem’s Cat (HOBBES), inspired by Hobbes, the cat of
crypto trader Ansem, broke a $100 million market cap on its launch
day. MOEW, a Base token launched on Wednesday, made the news after
a trader turned $13,000 into $2 million in just one hour. According
to data provided by Lookonchain, the crypto trader spent 3 ETH
($13,000) to buy 499.9 million MOEW, a 158x gain. Then, the trader
sold 116 million MOEW for 99 ETH, around $328,000, when the rice
surged. At the time of the report, the trader had 388.24 million
MOEW left, worth over $1.7 million. In less than 1 hour, this guy
turned $13K into $2M, a gain of 158x! He spotted $MOEW 10 minutes
after opening trading and spent 4 $ETH($13K) to buy 499.9M $MOEW.
Then he sold 111.65M $MOEW for 99 $ETH($328K). He currently holds
388.24M $MOEW, worth $1.76M.… pic.twitter.com/DFRGOYh8ZM —
Lookonchain (@lookonchain) April 3, 2024 Similarly, another trader
made a profit on MEW’s opening day. In 20 minutes, this crypto
trader made almost $900,000 in profits from selling SOL and buying
the memecoin. Nonetheless, the community has questioned these whale
moves. Many wonder whether the cat-themed profits come from
strategic trading or insiders from the projects. Whichever the
case, cat-themed tokens are starting to make a sound in the crypto
market. Ultimately, the crypto community has begun noticing
potential in the feline-inspired coins. Related Reading: Dogecoin
Hits Major Roadblock As Whales Go On Massive Selling Spree MEW's
performance in the weekly chart. Source: MEWUSDT on Tradingview.com
Featured Image from Unsplash.com, Chart from TradingView.com
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