TL;DR

    Cat-themed meme coins, such as MEW, are emerging as popular choices among traders, with some achieving significant price increases and market capitalization growth.
    The trend towards such cryptocurrencies marks a shift from the previous dog-related dominance in 2021.

The constantly changing meme coin market continues to produce new tokens at a rapid pace, drawing the interest of traders just days or even hours after their introduction.

In recent developments within this specific market, there’s been a growing interest in cat-themed cryptocurrencies. As reported by DexScreener, out of the top 15 meme coins that have gained popularity over the past 24 hours, no less than six are based on feline themes.

New Meme Coin Trend? Cat Tokens Taking Over

Evident examples include Cat in a Dogs World (MEW). 

According to CryptoPotato’s latest report, MEW‘s market cap reached over $800 million on April 3, making it the 131st largest cryptocurrency by market capitalization for a short period.

One notable figure in the industry, Arthur Hayes, co-founder of BitMEX, has commended the remarkable achievement of the meme coin.

In his own disclosure, well-known entrepreneur and crypto expert Lark Davis shared an intriguing story about an elusive trader. This trader reportedly transformed a $35,000 investment into a staggering $44 million fortune through MyEtherWallet (MEW).

The meme coin market is following a distinct pattern compared to last year’s bull run. In 2021, coins based on dogs like Dogecoin (DOGE), Shiba Inu (SHIB), and Floki Inu (FLOKI) grabbed the spotlight.

In contrast, the leading cryptocurrencies in their specific market are prepared for significant growth and could outshine others once more. For instance, DOGE was forecasted to attain a record high price of $1, while SHIB was predicted to surpass its previous peak if it manages to break through the major barrier at $0.000033285.

In the meantime, investing in meme coins comes with significant risk since their value can be influenced more by popular excitement than solid foundations. This could lead to substantial losses for investors. If you’re considering joining this trend, make sure to watch our cautionary video to avoid common pitfalls.

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2024-04-04 13:34