Is Cat Season Here? After New ATH, MEW Market Cap Hits $1 Billion
After becoming the second cat-themed memecoin to reach $1 billion, Cat in a Dogs World (MEW) has exploded. The token joined POPCAT's surge and achieved a new ATH on Thursday, leading the feline sector.
MEW Advances Significantly
Cat in a dogs world rose 18.4% in 24 hours, setting new ATHs twice this morning. Memecoins have exploded as the cryptocurrency reached its sixth ATH in two weeks, rising 95.2%.
After rising to $0.01127, the cryptocurrency became the second cat-themed token to reach $1 billion. Thus, MEW overtook Base Network's Brett as the ninth biggest memecoin.
MEW entered the memecoin top ten in Q2 as 8th in the dog-themed pack. As POPCAT's popularity soared, it retraced 60% after topping the cat-themed market in Q1.
After spending much of Q3 between $0.004 and $0.006, the cryptocurrency has been rising for a month. MEW's surge this week seems to be driven by Upbit's listing.
Crypto General determined MEW's next objective based on its previous performance. The expert said that the cryptocurrency has been “in a consistent uptrend from its launch, showing great strength and potential.”
Crypto General forecasts parabolic jumps in the following days, predicting a price discovery phase around $0.045. MEW is now trading at $0.0112, 1.1% below its ATH.
Is Cat Season Here?
Many crypto experts predicted a cat-themed memecoin season. On Thursday, Solana's feline leader, POPCAT, set a new ATH at $1.67.
The memecoin became the first cat-themed token to reach $1 Billion in market value a month ago after growing 82% in 30 days. In addition to MEW and POPCAT, several cat-inspired memecoins have performed well this week.
Simon's Cat (CAT), a BNB Chain token, surged last week, approaching its all-time high on Wednesday. Following its Binance Future Listing, CAT's price rose 80.4% in three days.
The price rose from $0.0000245 to $0.0000442, 5% below its $0.0000462 ATH from a month ago. Although down 5.1% from yesterday's rally, CAT still rises 53% weekly.
