- The Solana-based meme coin, Cat in a Dogs World (MEW), recently saw a surge in value following a significant listing announcement.
- This comes amidst a longstanding trend in the cryptocurrency market where Dogecoin (DOGE) and other canine-themed meme coins have been prevalent.
- Uniquely, Cats in a Dogs World has garnered attention this year for its feline theme, distinguishing itself in a crowded meme coin market.
Solana-based Cat in a Dogs World (MEW) skyrockets post Upbit listing, challenging the crypto scene dominated by dog-themed coins.
MEW Catapults in Value Following Upbit Listing Announcement
In a major development for the meme coin segment, South Korea’s largest cryptocurrency exchange, Upbit, officially announced the listing of Cat in a Dogs World (MEW). This pivotal move caused MEW’s price to soar dramatically, marking an over 16% gain in just a single trading day, according to TradingView data.
Market Dynamics: From Doge to Cat-Themed Coins
Historically, Dogecoin (DOGE) has dominated the meme coin market, along with other dog-themed cryptocurrencies. However, Cats in a Dogs World has broken the mold by capitalizing on a feline theme, catering to a niche audience and standing out in an otherwise crowded space. This shift reflects a growing interest in diversifying meme coin investments beyond the popular canine-related assets.
Roaring Kitty’s Influence on Meme Coin Trends
Cat in a Dogs World first entered the market in March 2024, swiftly reaching an impressive trading volume of $150 million within its first three hours. Much of its recent notoriety can be attributed to Keith Gill, known in social media circles as Roaring Kitty. Gill’s return to social media reignited interest in feline-themed meme coins.
The Impact of Social Media on MEW’s Popularity
Roaring Kitty’s recent declaration, “The Dog Days Are Over,” has resonated with the investing community, effectively pivoting attention towards cat-themed meme coins like MEW. This statement, coupled with his substantial GameStop (GME) holdings valued around $600 million, has further fueled investor intrigue. Keith Gill is anticipated to discuss these developments in an upcoming live broadcast, potentially influencing additional market movements.
Conclusion
The recent listing of Cat in a Dogs World (MEW) on Upbit and the ensuing price rally exemplifies the evolving dynamics within the meme coin market. As influential figures like Roaring Kitty spotlight feline-centric cryptocurrencies, we may witness a continued shift in investment patterns. For now, MEW stands as a testament to the value of diversification and the impact of targeted themes within the broader cryptocurrency arena.
