As a researcher with extensive experience in the cryptocurrency market, I find the recent performance of Solana meme coin Catwifhat (CWIF) to be quite intriguing. While Bitcoin and other leading cryptocurrencies have been showing bearish trends, CWIF has defied this pattern, surging by 42% today and reaching a market capitalization of $30 million.
As a crypto investor, I’ve noticed that Bitcoin and other major cryptocurrencies have been exhibiting bearish trends lately. However, there’s an intriguing exception to this trend: the meme coin Catwifhat (CWIF) on the Solana blockchain. Despite the broader market downturn, CWIF has managed to defy the negative sentiment and display a more optimistic performance.
Cat-themed meme coin, Catwifhat, experiences a 42% price increase and bounces back to $0.00000082. This surge comes on the heels of a significant 60% rise in trading volume. According to CoinMarketCap, Catwifhat’s market capitalization has reclaimed a value of $30 million.
The remarkable rise of Dogwifhat to the pinnacle of Solana’s meme coins, with a peak valuation of $4.8 billion, remains a fresh memory for investors, who are wary of underestimating its feline rival.
Dogwifhat’s connection with Solana was significant and noteworthy, as Solana has emerged as one of the top performing cryptocurrencies during this ongoing bull market. Now, Catwifhat seems to be imitating this trend. Within the past week, it experienced a remarkable increase of 400%. Despite its modest market cap of merely $30 million.
Although Dogwifhat’s market capitalization currently dwarfs Catwifhat’s, the latter still experiences noteworthy factors boosting its worth.
April 25 marked the launch of Catwifhat’s perpetual futures on BitMart, opening up a fresh trading opportunity for investors. Moreover, its market capitalization and circulating supply have been confirmed by SolanaFM, CoinMarketCap, Solscan, and CoinGecko for transparency. Lastly, Catwifhat is currently popular on various platforms including DEXTools and Bireye.
A little over a week ago, most people believed that the market capitalization of $CWIF was around $250 million. This assumption was based on the fact that no reliable sources had disclosed the Token Extension burns.
However, things have taken a new turn. Now, reputable sources such as @solanafm, @solscanofficial, @CoinMarketCap, and @coingecko have updated their data to reflect $CWIF’s verified market capitalization and circulating supply. The numbers are exciting! 🎉🍾🥳
— catwifhat $CWIF (@catwifhatsolana) May 8, 2024
The community backing Catwifhat’s X coin is urging KuCoin to include the meme token in their exchange.
The recognition of Solana’s expanding capabilities by Franklin Templeton, a well-known asset management company, has fueled a recent increase in popularity for Solana-based meme coins.
The firm values Solana due to its emphasis on scalability and affordability in transactions. These traits have attracted popular meme tokens like Catwifhat, as well as other notable coins such as BONK and WIF, which continue to rank among the top 100 cryptocurrencies by market capitalization.
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2024-05-08 11:12