MEW, the Solana-based meme coin often called “cat in a canines world,” has skilled a notable enhance of over 16% prior to now 24 hours, making it the main gainer amongst cryptocurrencies on July 24.
On the time of writing, the feline-themed meme coin cat in a canines world (MEW) was nonetheless up 11%, buying and selling at $0.0081 per worth knowledge on crypto.information. The crypto asset’s market cap had surged to $726 million, making it the 94th largest cryptocurrency.
Furthermore, the meme coin’s every day buying and selling quantity has dropped 16%, hovering round $250 million, suggesting that MEW buyers are optimistic about its potential rise and like to carry their positions somewhat than promote.
The most recent worth surge in MEW follows a July 23 X publish wherein WhiteBIT, one of many largest European centralized crypto exchanges from Ukraine, revealed that it had listed the meme coin.
Only a day earlier, the alternate additionally introduced a bounty program that might see the highest 250 contributors rewarded from a prize pool of 6 million MEW tokens.
MEW was initially launched on the Raydium alternate, benefiting from a ten% airdrop to the Solana neighborhood on March 26. The launch was met with instant enthusiasm, pushed by the Solana hype and the coin’s partaking “Cat in a Canine World” theme. Inside simply three hours of its launch, MEW’s buying and selling quantity soared to $150 million.
Cat-themed tokens as an entire are valued at $2.7B after an growth prior to now few weeks. Popcat (POPCAT), one other cat-themed meme coin on Solana, additionally skilled a surge of 12% on July 24, exchanging fingers at $0.8155 at press time.
MEW’s surge additionally comes at a time when the worldwide crypto market is experiencing a slight drop, standing at $2.39 trillion. Bitcoin, the pioneering crypto asset, was additionally down 1.13%, exchanging fingers at $658,876 on the time of publication.