In a world dominated by dog-themed memecoins, a feline contender has emerged. Cat-themed cryptocurrency, MEW (short for ‘Cat in a Dog’s World’), defied the broader memecoin slump on Monday, becoming one of the cohort’s top gainers.
MEW, the fourth-largest memecoin on the Solana blockchain, soared over 10% in the last 24 hours, accompanied by a 70% surge in trading volume. This latest uptick propelled the coin’s weekly gains to a remarkable 34%, helping traders recover losses incurred in the previous month.
Social media analytics tool LunarCrush revealed a massive 442% increase in social engagement, including likes, comments, and views, for MEW in the last 24 hours. This spike signifies strong interest among retail traders, fueling the coin’s upward momentum.
The coin’s northward movement stands in stark contrast to the performance of other memecoin heavyweights like Dogecoin and Shiba Inu, which witnessed declines of 0.29% and 2.18% respectively.
Launched to challenge the dominance of dog-themed memecoins, MEW has nearly tripled in value since its introduction in late March. Notably, popular trader Yelo highlighted MEW’s listing on London-based cryptocurrency trading platform Revolut and Korean cryptocurrency exchange Upbit, advocating for the token’s inclusion in investors’ watchlists.
Interestingly, another cat-themed memecoin, Popcat (SOL), is currently the top performer for 2024, boasting an impressive 11,203.24% surge this year.
At the time of writing, MEW was trading hands at 0.00548, reflecting a 10.23% increase in the last 24 hours, according to data from CoinMarketCap.
MEW’s impressive performance demonstrates the potential of cat-themed cryptocurrencies in a market saturated with dog-themed coins. The surge in social engagement and prominent exchange listings are strong indicators of the coin’s growing appeal and the potential for continued growth in the future.
