Memecoins are the hottest stories in Q1 2024, with dog-inspired tokens leading the pack. However, one memecoin is jumping through the roof and making sure everyone hears it.
Cat in the Dog’s World (MEW) is a new player in the memecoin market, having been out for less than a month. In this short time, the token has surpassed its clouder and joined the lofty ranks of the top ten memecoins by market capitalization.`
From rooftops to oceans
memecoin got off to a remarkable start, with a 267.54% gain in its first week. However, MEW is not immune to crypto market dynamics, as its rally has slowed with Q2’s corrections.
During the latest Bitcoin correction, MEW experienced a price drop of over 52%, dropping from trading at $0.00402 to $0.00189 over the weekend, as seen in the chart below. One whale didn’t miss the chance to take a dip and bought 479.6 million MEW on Sunday.
Accordingly LookOnChain data, a whale withdrew 10,438 SOL worth about $1.54 million from Binance to buy MEW. Whale bought the cat-themed token at an average price of $0.0032, doubling her investment in 48 hours.
At the time of this writing, Whale’s holdings are worth $3.12 million and she has made a profit of $1.56 million. Moreover, after the first whale transaction, the token’s price began to recover from the decline, rising 119% from its lowest point over the weekend since the start of Monday.
A major exchange listing promotes MemeCoin
MEW continued its upward trajectory after listing on one of the largest crypto exchanges by volume. On Monday, OKX announced a list of tokens DogWifeHat (WIF) and cats popular in the canine world.
After the announcement, the price of cat-themed MemeCoin rose 38.22% before returning to the $0.00450 support zone to close the day. Nevertheless, MEW stole WIF’s hat, as the dog-themed sensation fell 15.2% in the past 24 hours.
New spot listing $MEW @Mewsworld And $WIF @dogwifcoin will be listed above #OKX!
Deposits: Open $MEW Spot Trading: April 15 (UTC) 8:00 AM $WIF Spot Trading: 9:00 am April 15 (UTC)
More: https://t.co/zCnI8TDmnQ pic.twitter.com/OJffIqMGAt
— OKX (@okx) 15 April 2024
Feline-inspired tokens surge in popularity in Q1 of 2024. The launch of several cat memecoins gave investors a big boost in the first days of Q2. Despite most of these gains coming from the Solana memecoin frenzy, it seems that MEW is stronger than most in the crowd.
As Tuesday began, the token began to rise again, skyrocketing 21.3% in just one hour. MEW’s market activity also increased by 17.7% in the previous day, with a daily trade of $227.6 million.
Likewise, the token has become a hot topic according to CoinMarketCap data. In X PostThe crypto data platform revealed that MEW was the third most mentioned token in its CMC community.
Cat in Dog’s World is trading at $0.00634 at the time of writing, up 14.9% from yesterday’s price. Despite being down 38.3% from its all-time high (ATH) of $0.00971, MEW registers a 60% gain in the weekly timeframe.
