- Kraken adds Cat in a Dog’s World to their Spot offerings.
- Feline cryptos outperformed dog-themed coins in 7 days.
- MEW wins in one crucial metric despite a harsh correction.
Cats in a dog-dominated world of meme coins have been a rarity until this month. While blue-chip dog meme coins like Dogecoin (DOGE) and Shiba Inu (SHIB) have ruled the meme kingdom ever since the crypto boom in 2021, the tables have completely switched this month.
Are Cats Taking Over This Cycle?
Newly-created cat-themed memecoins have outpaced canine cryptos this week. Feline meme currencies cumulatively inked 17% gains in seven days, making this crypto niche the week’s top gainer. To compare, the dog-themed meme section picked up 3% gains over the same time frame, while the mutual meme compartment bagged 7.7%.
Multiple major crypto exchange listings have boosted feline cryptocurrencies, as centralized platforms tend to respond quickly to rising trader demand. Kraken, one of the largest exchanges, announced the immediate listing of Cat in a Dog’s World (MEW) on its platform.
This is a breakthrough move for the asset class’s third-largest feline meme coin, only rocking a smaller market cap than Solana’s Popcat (POPCAT) and Ethereum’s Mog Coin (MOG). MEW is currently sporting a $530 million market cap, while the coin’s tokenomics point to a supply capped at 88,888,888,888.
Is MEW Under $1 Billion a Bargain?
If the rising cat crypto takeover justified its position as the leading narrative this quarter, MEW, POPCAT, and MOG could take off to new heights. However, the meme coin world is notorious for its massive price swings unless the coin is directly tied to real-life utility cases.
Speculative interest often picks up memecoins such as MEW, as traders use leverage to predict the token’s price. This trend, which emerged in 2024, boosts the funding rates for memecoins on the Derivatives market, which usually comes down to eventual price appreciation.
Several crypto analysts and whales share the sentiment of MEW eventually breaching a $1 billion market cap. Whale Insider shared a roster of 13 memecoins that still have the potential to rise above their current market caps, including two of the aforementioned cat-themed tokens: MEW and MOG.
The #133 ranked MEW is exchanging hands at $0.005968 after a 13% crypto market correction on Thursday. The cat crypto is also 38% down from its all-time peak of $0.009716, scored during last Spring’s meme-driven rally.
On the Flipside
- Regardless of lesser major listings, Cat in a Dog’s World (MEW) nipped the largest trading volume in the feline crypto category, surpassing POPCAT and MOG.
- MEW is the only cat-themed crypto that garnered over $100 million this Thursday despite witnessing a double-digit crypto market correction.
Why This Matters
Major crypto platforms adjust their trading services correspondingly with shifting trader behavior and demand for digital assets. Memecoins offer a fun and light-hearted way to trade crypto instead of the technical slang-filled narratives typical for traditional altcoins.
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