Cat In A Dogs World Logs Double-Digit Gains Defying Canine-Themed Dogecoin And Shiba Inu's Loss-Making Moves

Comments
Loading...

Cat-themed cryptocurrency, cat in a dogs world (MEW) defied the broader memecoin stagnation on Monday to become one of the cohort’s top gainers.

What happened: The fourth-largest memecoin on Solana SOL/USD jumped more than 10% in the last 24 hours, while its trading volumes soared 70%. 

The coin’s weekly gains increased to 34% following the latest uptick, helping traders recover losses from the previous month.

According to social media analytics tool LunarCrush, socially-driven engagements, including likes, comments, and views for the coin, surged 442% in the last 24 hours, reflecting strong interest among retail traders.

The coin's northward movement stood in sharp contrast to the performance of sector heavyweights like Dogecoin DOGE/USD and Shiba Inu SHIB/USD, which fell 0.29% and 2.18%, respectively.

See Also: Elon Musk Dons His MAGA Hat To Meet Pro-Bitcoin President Javier Milei: Duo Discuss Argentina’s Journey To Normalcy

Why It Matters: Launched to challenge the hegemony of dog-themed memecoins, MEW has nearly tripled in value since its introduction in late March. 

Widely-followed trader Yelo made a strong case for the token, saying it deserved to be at the top of investors' radar.

The trader highlighted MEW's listing on London-based cryptocurrency trading platform Revolut and Korean cryptocurrency exchange Upbit.

Interestingly, another cat-themed memecoin, Popcat (SOL), is currently the top performer for 2024, soaring an impressive 11,203.24 this year.

Price Action: At the time of writing, MEW was exchanging hands at 0.00548, up 10.23% in the last 24 hours, according to data from CoinMarketCap.

Read Next: 

SOL Logo
SOLEmeren Group Ltd
$1.55-4.91%

Stock Score Locked: Want to See it?

Benzinga Rankings give you vital metrics on any stock – anytime.

Reveal Full Score
Edge Rankings
Momentum16.26
Growth9.22
Quality-
Value82.27
Price Trend
Short
Medium
Long
Market News and Data brought to you by Benzinga APIs

Posted In: