As a seasoned crypto investor with a knack for spotting undervalued gems, I’ve always kept my eyes peeled for the next big thing. And today, I found myself smitten by the meteoric rise of Cat in a Dogs World (MEW), a Solana-based meme coin that has just joined the top 100 club.
TL;DR
- MEW is among the best-performing cryptocurrencies on a 24-hour scale, hitting a new ATH several hours ago.
- The rally happened shortly after the biggest South Korean crypto exchange allowed trading services with the meme coin.
Joining Crypto’s Top 100 Club
As a crypto investor, I found myself in the midst of a fascinating scene today with the Solana-born meme coin, Cat in a Dogs World (MEW). Launched earlier this year, it took center stage on October 21st, surging by an impressive 16% and reaching an unprecedented all-time high of approximately $0.01. It’s moments like these that make the crypto world so exhilarating!
Initially, MEW’s market cap spiked close to a billion dollars, but then it dropped back down to $880 million. At present, this positions MEW as the 95th largest cryptocurrency overall and the 10th largest in the meme coin sector.
The rapid growth in popularity was driven by Upbit’s move to offer trading services for the asset. This top South Korean cryptocurrency platform added the MEW/KRW pair, making it the third meme coin directly linked to the local official currency.
As an analyst, I’m excited to share that Mew has just become the third meme coin to list its Korean Won (KRW) pair on Upbit, the leading South Korean cryptocurrency exchange. This is a significant milestone for Mew and underscores its growing popularity in the global crypto market.
the ONLY coins that have KRW pairs are
— mememillions☆ (@apatheticwhale) October 21, 2024
As a researcher, I’ve come to understand that deposits and withdrawals on Upbit can be processed exclusively through the specified MEW-Solana network. Therefore, it is crucial for me, as well as other users, to verify the network prior to making any deposit to avoid potential issues. A word of caution: always check the network before depositing funds.
Although incorporating MEW into their system, the company warned that the meme coin does not possess its own practical application within the token economy. They also advised that investments in cryptocurrencies can experience dramatic price swings as a result of their speculative nature and shifts in regulatory landscapes.
When it comes to investment choices in this digital asset, the investor holds the responsibility for any potential losses. To ensure you are well-informed about the attributes of digital assets and trade prudently, we recommend reviewing the project website and public disclosure materials thoroughly,” Upbit’s team advised.
Support From Others
The previously mentioned cryptocurrency exchange isn’t the sole platform that has adopted MEW. Notable exchanges like OKX, KuCoin, BTSE, and Gate.io have also integrated MEW.
Remember that in April this year, the price of the meme coin saw an extraordinary surge. This happened after OKX joined the trend. As CryptoPotato reported at the time, MEW soared by 100% within a day, attracting some large investors who made significant purchases.
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2024-10-21 13:00