
In the dynamic world of cryptocurrency, dog-themed tokens such as Dogecoin and Shiba Inu, have been the reigning monarchs of the memecoin sector for some time. Propelled by overnight market sensations and fiercely loyal investor communities, these canine-themes tokens have established a significant lead and dominance, as illustrated by the Vegas Sphere “wif on sphere” fundraiser campaign. About a month ago, eight out of ten memecoins had drawn their inspiration from our four-legged friends.
However, unforeseen forces seem to be changing the embroidered tapestry of the memecoin hierarchy. Newcomers to the market, cat-themed tokens, have stealthily crept in and are slowly but surely beginning to embed themselves into this previously canine-dominated world. Making their mark quite decisively is the newly hatched memecoin, ominously named ‘Cat in a Dogs World’ or MEW. Learning to run before it could walk, MEW pounced onto the scene on March 26 and within a mere 48 hours, it boasted a staggering $200 million market cap. Rapidly outstripping competitors such as BONK, WIF, and PEPE, MEW set the record for the fastest fair launch to achieve this success.
In an awe-inspiring sprint, MEW’s market cap ballooned up to $644 million in just eight days, propelling it to the eighth position in the memecoin market capitalization ranks. The surging cat-token received another major boost, rallying over 50% after the renowned crypto exchange KuCoin vouched confidence in it by announcing its listing.
In the past week, the agile MEW posted an impressive 267.54% surge. While it has faced a minor setback with a 15% drop in its value today, the interest in this feline-themed cryptocurrency is far from waning. The daily market activity of MEW declined by 35.3% to $208.4 million, but the future seems promising for this new player.
Further feeding this curiosity in cat-themed tokens is Ansem’s Cat (HOBBES), another new memecoin which drew inspiration from Hobbes, the pet cat of a renowned crypto trader, Ansem. Just like its other feline-inspired counterpart, HOBBES broke a $100 million market cap on its launch day.
Meanwhile, a Base token by the name of MOEW made a stunning debut when it enabled a trader to turn $13,000 into a whopping $2 million within an hour. The trader reportedly exchanged 3 ETH ($13,000) for 499.9 million MOEW, thus attaining an unbelievable 158x gain. The trader then sold off 116 million MOEW for approximately $328,000, when the price surged.
Similar windfalls were experienced by a trader on MEW’s opening day, who pocketed almost $900,000 in profits by strategically selling SOL and buying the new memecoin. Such instances have, understandably, created a buzz within the crypto community and drawn sharp scrutiny. Members of this network have begun to question the origins of these sudden, unprecedented profits, setting off a debate about whether these are the fruits of smart, tactical trading or the outcomes of inside information held by project insiders.
Irrespective of the means, the end result is clear – cat-themed tokens have started to carve out a niche in the crypto market, captivating the community’s attention. With potential in the feline-inspired coins gaining recognition, the memecoin market could soon be swayed by a different breed of tokens, thus introducing a fascinating dimension in the crypto world.