Cat in a dog’s world (MEW), the latest sensation in the cryptocurrency market, has reached a staggering milestone by becoming the second cat-themed memecoin to hit a $1 billion market capitalization. By aligning with POPCAT's bullish trajectory, MEW marked a new all-time high (ATH) on Thursday, propelling the entire feline-themed cryptocurrency sector into the spotlight.
In the past 24 hours, MEW surged impressively by 18.4%, setting a new ATH twice in one morning. This marks the fifth ATH achievement for the cryptocurrency within two weeks, escalating its value by over 95.2% and causing ripples across the memecoin community. Surpassing the $0.01127 price point, MEW reached the much-anticipated $1 billion in market capitalization. This accomplishment allowed MEW to surpass Base Network’s token, Brett, becoming the tenth largest memecoin by market cap.
Initially, in the second quarter, MEW joined the top ten memecoins, ranking eighth within the dominantly dog-themed sector. It experienced a significant setback when POPCAT gained traction, seeing a 60% correction after leading the cat-themed market in the first quarter. Recently, after consolidating in the $0.004-$0.006 range through most of the third quarter, MEW has begun to ascend. This resurgence can be attributed to its listing on the Korean crypto exchange, Upbit. Crypto analyst Crypto General underscored MEW's recent momentum and projected ambitious future targets. The analyst remarked on the cryptocurrency’s “consistent uptrend since launch, demonstrating robust strength and potential.” They anticipate sharp rises in the coming days, targeting the $0.045 range for price exploration. Currently, MEW trades at $0.0112, just 1.1% below its recent ATH.
Cryptocurrency analysts have long predicted a season for cat-themed memecoins. Solana's leading feline token, POPCAT, set a new ATH after reaching the $1.67 mark on Thursday. Demonstrating an 82% increase over the last month, it became the first cat-themed token to cross the $1 billion market cap a month ago. Inspired by MEW and POPCAT's remarkable rally, other cat-themed memecoins have also witnessed significant gains recently.
For instance, Simon’s Cat (CAT), a BNB Chain-based token, experienced a remarkable ascent last week, nearing its ATH on Wednesday. Following its debut on Binance's Future Listing, CAT's price soared 80.4% in three days, advancing from $0.0000245 to $0.0000442, merely 5% shy of its ATH recorded over a month prior. Despite a 5.1% dip from the preceding day’s rise, CAT achieved a 53% weekly increase. Crypto Trader Bluntz hailed the onset of “cat season,” as the feline-inspired cryptocurrency sector surged by over 8%, as per CoinGecko data.