Meme Coin Revival as these cat-themed tokens lead the rally: details

TL;DR

The meme coin market experienced a strong recovery on September 10, with tokens such as DOGE, SHIB, POPCAT and KOIN making significant gains. Neiro (NEIRO) surged 450% weekly after listing on Binance and other leading crypto exchanges.

Finally a green day

The meme coin sector suffered painful losses in recent days, with its market cap briefly falling below $40 billion at one point. However, the picture looks completely different today (September 10), with numerous tokens posting substantial gains.

The main coin, Dogecoin (DOGE), hit a two-week high after breaking above $0.10, while its main rival, Shiba Inu (SHIB), saw its price increase by 2% daily.

Stealing the show are certain cat-themed memes like Popcat (POPCAT) and Kittekoin (KOIN). The former is up 15% in the past 24 hours, while the latter hit a new all-time high of nearly $0.25 after soaring more than 80%. KOIN lost some of the gains in the following hours, currently trading around $0.18 (according to CoinGecko data).

KOIN Price, Source: CoinGecko

Other well-performing meme coins include BRETT (+6%), DOGS (+8.5%), PEOPLE (+16%), SUNDOG (+20%) and many more.

NEIRO continues to progress

The newly launched dog-themed meme coin Neiro in ETH (NEIRO) also found a place among the top earners. Its price rose 15% in the last 24 hours, reaching $0.18 for the first time since mid-August.

Price NEIRO, Source: CoinGecko

Its resurgence came shortly after an interaction with Binance. Specifically, the exchange launched a NEIRO/ETH perpetual contract with USDT margins with up to 75x leverage.

This type of product allows users to bet on the price changes of underlying digital assets without actually owning them. The contract offers high leverage, has no fixed expiration date, and requires traders to maintain a specific margin to keep their positions open.

Earlier this week, Crypto.com and OKX also jumped on the bandwagon. The former allowed deposits and withdrawals of NEIRO/ETH via ERC-20, while the latter added NEIRO/ETH to its perpetual futures market.

The meme coin has increased by an impressive 450% on a weekly basis, with its 24-hour trading volume exceeding that of top-ranked memes such as BRETT, TURBO, MOG and others.

Crypto X is full of analysts predicting a new rally for NEIRO. Johny, an X user with almost 700,000 followers, believes that the current price zone of $0.18 is the last resistance before a rise to a new ATH. For his part, MoneyLord believes that NEIRO could repeat the success of WIF seen earlier this year:

You blink and $NEIRO it will be 300m away

When it bursts out of here

I hope similar to what $WIF done

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

— MoneyLord (@moneyl0rd) September 9, 2024

SPECIAL OFFER (Sponsored) Binance Free $600 (Exclusive to CryptoPotato): Use this link to register a new account and receive an exclusive welcome offer of $600 to Binance (full details).

2024 LIMITED OFFER on BYDFi Exchange – Up to $2888 Welcome Reward, Use this link to register and open a 100 USDT-M position for free!