Cat-themed token on Solana soars over 120% in 24 hours
The “Cat in a dogs world” token is rising even after airdropping 5% of its total supply to dog-themed meme coins.
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The cat-themed token MEW rose over 120% in the last 24 hours, data aggregator CoinGecko points out. Holders of two other famous Solana-based meme coins, WIF and BONK, received 5% of MEW’s total supply. The token price sits now at $0.00511, and its over $470 million market cap makes MEW the biggest cat-themed token.
MEW is the ticker for “Cat in a dogs world,” which is a reference to the fact that the most popular meme coins are all dog-themed currently. The crypto community on X was quick to embrace the narrative, with personalities like Arthur Hayes and Meltem Demirors posting about buying MEW.
I went into the kitty litter tray and found $MEW
Meow bitches. 😘😘😘😘😘 pic.twitter.com/rg6HYPPQQd
— Arthur Hayes (@CryptoHayes) March 29, 2024
However, the white cat has a long fight ahead if it wants to flip dog-themed coins. According to CoinGecko, the total market cap of dog-themed meme coins is almost $59 billion, which is 3,000% larger than the $1.9 billion total market cap of cat-themed tokens.
Nevertheless, MEW’s effort might bring a ‘cat season’ soon. Data from decentralized exchanges aggregator DEX Screener shows that 6 out of 20 most popular tokens created in the last 24 hours on Solana are cat-themed.
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