Cat-Themed Meme Coins Drive Market Revival: Key Insights

TL;DR

• The meme coin market experienced a robust rebound on September 10, with notable increases from tokens such as DOGE, SHIB, POPCAT, and KOIN.
• Neiro (NEIRO) surged 450% over the week following its listing on Binance and other prominent cryptocurrency exchanges.

A Promising Day Ahead

The meme coin sector faced significant declines in the past few days, with its market cap briefly dipping below $40 billion at one point. However, today (September 10) presents a refreshing change, as many tokens are reporting impressive gains.

The top meme coin, Dogecoin (DOGE), reached a two-week peak after breaking the $0.10 mark, while its closest competitor, Shiba Inu (SHIB), experienced a daily increase of 2%.

Notable performers include cat-themed tokens like Popcat (POPCAT) and Kittekoin (KOIN). Popcat saw a 15% rise in the past 24 hours, while KOIN attained a new all-time high of nearly $0.25 after a remarkable increase of over 80%. Although KOIN has since retracted some of its gains, it is currently trading around $0.18 (as per CoinGecko’s data).

Other meme coins with notable performance include BRETT (+6%), DOGS (+8.5%), PEOPLE (+16%), SUNDOG (+20%), and several others.

NEIRO’s Remarkable Surge

The newly launched dog-themed meme coin Neiro on ETH (NEIRO) has also made headlines as one of the top gainers. Its price increased by 15% in the last 24 hours, reaching $0.18 for the first time since mid-August.

This price surge followed a significant interaction with Binance, where the exchange introduced a USDT-margined NEIRO/ETH perpetual contract with leverage options up to 75x.

This product allows users to speculate on the price movements of the underlying digital assets without actually owning them. The contract offers high leverage opportunities, has no fixed expiration date, and requires traders to maintain a defined margin to keep their positions active.

Earlier this week, Crypto.com and OKX also joined the trend. Crypto.com allowed deposits and withdrawals of NEIRO/ETH via ERC-20, while OKX listed NEIRO/ETH on its perpetual futures market.

The meme coin has impressively risen by 450% over the past week, with its 24-hour trading volume exceeding that of better-ranked memes like BRETT, TURBO, MOG, and others.

Analysts on Crypto X foresee a potential further rally for NEIRO. Johny – a prominent user on X with nearly 700,000 followers – believes the current price level of $0.18 is the final resistance before a surge towards a new all-time high. Meanwhile, MoneyLord predicts that NEIRO could replicate the success of WIF observed earlier this year:

You blink and $NEIRO will be at 300m

When it breaks out from here

I’m expecting something similar to what $WIF achieved

From 160m to 4.5B in 28 days@NeiroOnEthereum pic.twitter.com/WWJbY1bipz

— MoneyLord (@moneyl0rd) September 9, 2024