Feline-Themed Memecoin SOARs High: ‘Cat in a Dogs World’ Conquers Top 10 Despite Market Corrections

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In a world dominated by canine-inspired cryptocurrencies, a new feline-themed contender has clawed its way up to the top echelons of the digital economy. This contender is the memecoin ‘Cat in a Dogs World’ (MEW) which has remarkably outpaced its competitors despite being in the market for less than a month. Towering over other tokens, the MEW has clawed its way to the top ten of memecoins ranked by market capitalization.

MEW’s debut in the crypto market was an outstanding one, netting a 267.54% growth within its first week. However, even MEW could not escape the usual capricious dynamism that characterizes the cryptocurrency market. As the market corrections of the second quarter took hold, MEW’s rally noticeably decelerated.

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The latest Bitcoin correction rocked MEW’s boat as it saw its price plummet by over 52%, dropping from $0.00402 to a low of $0.00189 in a weekend. Despite this decline, a savvy investor seized the moment to purchase a whopping 479.6 million MEW shares, thus capitalizing on the dip.

This transaction followed the path of Bitcoin’s earlier movements. The whale investor divested around 10,438 SOL worth approximately $1.54 million from his Binance cache to acquire the cat-themed token at an average price of $0.0032. Within 48 hours, the whale had managed to double this investment.

These investment maneuvers swelled the whale’s coffers to $3.12 million, meaning the investor had accumulated profits upwards of $1.56 million. After this hefty transaction, MEW began to spring back, recovering impressively at a rate of over 119% from its weekend rock bottom as the Monday markets opened.

The feline-themed memecoin’s rise did not stop there. The token’s upward trudge persisted after securing a prestigious spot on one of the world’s largest crypto exchanges by volume – OKX. Following OKX’s announcement of its listing, MEW’s value propelled by 38.22%, even outdoing ‘dogwifhat’ (WIF), another newly listed selection, which recorded a 15.2% drop over the same period.

Cat-inspired tokens have continued to rule the roost throughout the first quarter of 2024. Several cat memecoin launches provided investors with colossal gains in Q2’s initial days. Despite these gains being influenced significantly by the Solana memecoin eruption, MEW remains the most robust player among the pack.

With the dawn of Tuesday, MEW’s success flight resumed, soaring by 21.3% within the first hour. The past 24 hours have witnessed a 17.7% rise in market activity for MEW, recording a daily trading volume of $227.6 million. Consequently, MEW has become a trending topic in the crypto community, emerging as the third most mentioned token in the CMC – as per CoinMarketCap data.

Trading at $0.00634 at the time of this writing, ‘Cat in a Dogs World’ is up 14.9% from yesterday’s price. Though 38.3% below its all-time high of $0.00971, MEW has surged by 60% over the weekly timeframe, asserting its place as the hot new player in the memecoin market.