As a seasoned researcher with years of experience observing and analyzing the cryptocurrency market, I must admit that the recent surge in CATS, the meme coin based on the TON blockchain, has caught my attention. The 691% increase within a single day is nothing short of astonishing, and it’s always intriguing to witness such market dynamics at play.
In the last 24 hours, there’s been an impressive jump in the price of CATS, a meme coin built on the TON blockchain, as it prepares for its upcoming listing on several prominent cryptocurrency trading platforms.
In simple terms, the price of Cats (CATS) cryptocurrency has soared by an incredible 691%, rising from just $0.000067 to a peak of $0.00053 today. As we speak, it is being traded at $0.000223, still showing a significant daily increase of 259%. This data comes from CoinMarketCap.
A significant rise in CATS’ worth corresponds to an enormous boost in its trading frequency. The daily trading volume skyrocketed by 13 times, amounting to roughly $267,000, and the token’s total market capitalization stayed near $294.4 million.
The hype surrounding CATS has pushed the token to trend on Google, driven by its popularity as a Telegram mini-app with millions of active users. It’s gaining momentum alongside other Telegram-based games like Hamster Kombat (HMSTR) and Notcoin (NOT).
As a researcher, I found that the surge in value for the cat-themed cryptocurrency occurred prior to its listing on several prominent exchanges like Bybit, KuCoin, Bitget, and Haskey on October 8th at 10:00 UTC. This listing expansion allowed community members access to withdraw the tokens they had received during the project’s first season as part of an airdrop. The distribution of these airdrops was based on factors such as the age of Telegram accounts, premium status, and user activity within the community.
At this occasion, we’re not only celebrating, but also kicking off the official start of CATS’ second season. This new phase is anticipated to contribute more advancements within the memecoin community. For Season 2, we’ll be rolling out fresh and exciting features like AI photo farming and distinctive Cat-styled profile pictures, giving users even more ways to connect and interact.
Airdrop distribution and community involvement
600 billion CATS tokens in circulation in its entirety, a large chunk earmarked for distribution over Seasons 1 and 2. To be precise, about 55% of the total is set aside for distribution, with Season 1 already assigning 30%, or 180 billion tokens, to active community members.
The rewards system is designed to favor users holding Original Game (OG) passes and those actively involved in daily transactions, making sure that the most committed users reap the benefits of the airdrop.
To foster a strong community, this project motivates participants to increase their token winnings by introducing friends and accomplishing straightforward assignments, for instance, signing up on the official CATS Telegram group.
Even though there’s been an uptick in the value of CATS tokens, it’s possible that their prices could decrease in the near future due to a surge of tokens entering circulation from airdrops. This scenario is reminiscent of other meme coins built on the TON blockchain, like Hamster Kombat’s HMSTR, which experienced a 54% price drop post-launch. The increased supply might lead to selling pressure, causing some users to offload their CATS tokens.
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2024-10-08 14:54