Cat Meme Coins Surge: POPCAT and MEW Double in Value

Quick Summary

• Meme tokens based on Solana, such as Popcat (POPCAT) and Cat in a Dogs World (MEW), have experienced notable increases, reflecting SOL’s price rise over the last 24 hours.
• MEW’s surge may also stem from its recent listing on the South Korean exchange Upbit, which introduced the MEW/KWR trading pair.

New All-Time Highs for These Tokens

In the last 24 hours, the cryptocurrency market has experienced increased volatility, with many major assets showing some losses. The meme coin segment has lagged as well, with Dogecoin (DOGE) and Shiba Inu (SHIB) seeing declines.

However, cat-themed memes have emerged as significant gainers today (October 24). The leading tokens by market cap – Popcat (POPCAT) and Cat in a Dogs World (MEW) – hit new all-time highs at $1.67 and $0.0105, respectively.

Additional cat-themed tokens that have significantly increased in the last 24 hours include Mog Coin (MOG), Michi (MICHI), MANEKI (MANEKI), among others.

It’s important to note that most of these rising meme tokens are developed on the Solana blockchain. Currently, SOL has seen a daily increase of 5% and a weekly rise of 14%, trading near $175. This increase is accompanied by a boost in on-chain trading activity on the network.

Data from DefiLlama shows that trading volume exceeded $2.6 billion on October 24, a level last seen in mid-August this year. Moreover, the total value locked (TVL) on Solana has surged to a 34-month high, exceeding $6.5 billion.

MEW’s Soaring Value

The recent surge in MEW’s price could also be associated with Upbit’s initiative to offer trading for it. This occurred earlier this week, which led to MEW joining crypto’s top 100 shortly after. Presently, MEW’s market cap is just below $1 billion, ranking it as the 90th largest cryptocurrency.

According to X user pow, the cat-themed meme coin has performed exceptionally well in the Korean market, producing a 24-hour trading volume of $150 million on Upbit and Bithumb (the leading exchanges in the country).

Some market analysts believe that MEW could see further appreciation in the near term. X user CryptoBull_360 predicts that it is “poised for a significant breakout from its ATH resistance zone,” with increasing trading volume possibly influencing this trend.