Cat-themed meme coins explode as POPCAT and MEW rise by double digits: details

TL;DR

Solana-based meme tokens like Popcat (POPCAT) and Cat in a Dogs World (MEW) made significant gains. Its rally is in line with the increase in SOL prices in the last 24 hours. MEW’s bombshell can also be attributed to its listing on Korean crypto exchange Upbit, which recently launched the MEW/KWR trading pair. New ATH for these chips

The cryptocurrency market saw enhanced volatility in the past 24 hours, with many leading digital assets posting some losses. The meme coin sector has also underperformed, with Dogecoin (DOGE) and Shiba Inu (SHIB) in the red.

Cat-themed memes, on the other hand, are among the few big gainers today (October 24). The biggest by market cap, Popcat (POPCAT) and Cat in a Dogs World (MEW), hit new all-time highs of $1.67 and $0.0105, respectively.

MEW price, Source: CoinGecko

Other cat-related tokens that have risen substantially in the last 24 hours include Mog Coin (MOG), Michi (MICHI), MANEKI (MANEKI) and others.

It is worth mentioning that most growing memes are built on the Solana blockchain. For its part, SOL is up 5% daily and 14% weekly, currently trading at almost $175. Its rally coincides with the increase in chain trading volume on the network.

According to DefiLlama, the number surpassed $2.6 billion on October 24 (a level last seen in mid-August of this year). Additionally, Total Value Locked (TVL) at Solana has soared to a 34-month high of over $6.5 billion.

Exponential increase in MEW

The recent significant increase in the price of MEW could also be related to Upbit’s decision to allow trading services with it. That happened earlier this week, with the asset joining the crypto top 100 club soon after. Currently, MEW’s market cap is just south of $1 billion, making it the 90th largest cryptocurrency.

According to X User Pow, the cat-themed meme coin has been a huge success in the Korean market, generating a 24-hour trading volume of $150 million on Upbit and Bithumb (the country’s top crypto exchanges).

Some market watchers believe that MEW could post more gains in the near future. User X, CryptoBull_360, believes it is “set for a strong breakout of the ATH resistance zone,” with increased trading volume potentially playing a role.

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