Tuesday, April 16, 2024
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Because the Solana meme coin continues to dominate the bull market, merchants are transferring to a brand new area of interest of cat-themed tokens.

The market capitalization of meme cash has now elevated by 9% to almost $70 billion. On this house, Solana Meme Coin’s market capitalization has now elevated by greater than 20% to over $8 billion.

Nonetheless, the largest good points within the meme coin market immediately usually are not the preferred tokens like DOGE, SHIB, BONK, and even WIF, which hit a brand new all-time excessive. As a substitute, this can be a new class of cat-themed tokens.

One of many latest Solana-based cat meme tokens, Cat in a Canines World (MEW), is up 110% immediately after launching earlier this week. Inside simply 48 hours of buying and selling, the token reached a market cap of $200 million.

look on chain Some early merchants say they made tens of millions of {dollars} with MEW by beginning trades as little as 30 SOL. One dealer turned his $6,000 funding into $530,000 in a couple of hours. The hype behind MEW seems to be shifting consideration, as meme coin fans are at all times searching for the subsequent promising pre-sale in a bull market.

Rising curiosity in meme cash is driving Solana’s market efficiency, with the altcoin rising practically 70% in March.


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