Meme Coin MEW Soars to New ATH, Market Cap Exceeds $1 Billion

Quick Summary

• The meme coin MEW reached a new high after an 8% boost in the last 24 hours.
• While some anticipate continued growth, others caution against a possible pullback due to increasing FOMO.

The Bullish Trend Continues

The Solana-based meme coin Cat in a Dogs World (MEW) has emerged as a standout performer in the crypto space, surging 85% over the past two weeks.

Recently, it achieved a new all-time high exceeding $0.01, and its market cap surpassed the crucial $1 billion mark. This placed MEW as the 82nd largest cryptocurrency and the eighth largest within the meme coin category.

The asset kicked off October on a positive note, gradually increasing in price up until October 21, when it shifted into a higher gear, experiencing double-digit daily gains and advancing in the crypto rankings. A major factor driving this surge was Upbit’s announcement to provide trading services for the meme coin. According to CryptoPotato, the largest Korean cryptocurrency exchange has introduced the MEW/KRW trading pair.

Notably, MEW isn’t the only cat-themed token enjoying success today (October 25). Other top performers include Purr (PURR), Wen (WEN), MANEKI (MANEKI), and others. Conversely, Popcat (POPCAT) – the leading cat-related meme coin – has decreased by 10% in the last 24 hours.

MEW Price Forecast

Numerous market analysts believe that the upward trend for the meme coin is far from over. Crypto General (an X user boasting over 200,000 followers) mentioned its “steady uptrend,” indicating potential for further gains. The analyst forecasted “a parabolic shift” that could push prices up to $0.045 in the coming days.

Nonetheless, some predict a possible correction. Crypto_Jobs belongs to the cautious camp, warning that increasing FOMO (Fear of Missing Out) may adversely impact MEW’s price in the short term.

$MEW – similar to $popcat, I’m shorting here

The price remains bullish, but I suspect a reversal is imminent

FOMO buyers might get trapped! #MEW #trading #crypto #bitcoin #dyor pic.twitter.com/pW9o3NphgE

— Crypto_Jobs‍ TA & FA (@CryptoJobs3) October 24, 2024