As a seasoned researcher with a knack for spotting trends and analyzing market dynamics, I must admit that the meteoric rise of “Cat in a Dogs World” (MEW) has caught my attention. With its recent surge to an all-time high, this cat-themed meme coin on Solana has proven itself to be more than just a feline fancy.
In a world dominated by dogs, the meme coin themed around cats experienced a significant surge and reached a record peak on October 24th.
In the past few days, the price of meme coins has been rising significantly. At that time, the MEW token, often compared to a cat in a dog’s world, also saw an increase and reached a peak of $0.01136, which is its highest value ever recorded. Within the last 24 hours, this token had a trading volume exceeding $474 million, showing a substantial rise of 177%.
Meanwhile, MEW’s price hovered near approximately $0.01114. Over the past 24 hours, buyers experienced a 26% increase, propelling the value of this meme coin’s market capitalization to exceed $990 million. As per data from crypto.news, the cryptocurrency “cat in a dog’s world” stands as the 83rd largest digital currency by market cap.
In the world of meme coins, MEW came in 10th place overall, outperforming Mog Coin (MOG) and the day’s leading meme coin, Goatseus Maximus (GOAT).
Bitstamp lists MEW token
On October 24th, cryptocurrency exchange Bitstamp disclosed that it was now supporting trading for MyEtherWallet (MEW) as well as the WOO Network’s native token (WOO). Users worldwide can now trade MEW against USD and EUR on Bitstamp.
Simultaneously, Drift Protocol – a decentralized, Solana-based platform for on-chain perpetual swaps – has now included support for MEW perpetual futures contracts. These contracts offer traders a maximum leverage of 4x. This move comes after the launch of MEW perps on Kwenta and Synthetix, which went live on October 22nd on the layer-2 chain Base.
It was the increase in popular meme cryptocurrencies and their subsequent listings that sparked the cat-themed token’s record high (ATH).
As per information from Coinglass, the futures commitments for a hypothetical cat-based cryptocurrency in a canine-themed universe have surged by approximately 59% to exceed $211 million. Moreover, the optimistic sentiment surrounding this meme coin has led to MEW liquidations amounting to more than $2.47 million within the last day – with around $1.79 million of these being short liquidations.
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2024-10-24 22:41