Rebirth of memecoins? POPCAT And MEW Lead 20% Increase
During this bull run, cat-themed tokens like Cat in a Dog's World (MEW) have rose to the top 10 memecoins. Other feline-inspired tokens like Popcat (POPCAT) and Wen (WEN) had a great week as collaborations boosted their prices by 20% overnight.
Was Bitcoin Behind Memecoin's Rise?
In recent years, Dogecoin (DOGE) and Shiba Inu (SHIB) have dominated the memecoins market. Bonk (BONK) and dogwifhat (WIF) have been hot topics and top performers throughout this bull cycle.
Bonk has up 4291% since January 2023, while WIF has risen 1512% since December 2023. PEPE and Book of Meme have also performed well.
Top crypto experts like Alex Krüger and Altcoin Sherpa say Bitcoin (BTC) and memecoins have dominated this cycle. However, their performance is usually significantly correlated with BTC's.
Cat-Themed Memecoins Lead With Popcat
Although canine-inspired tokens dominate the memecoin market, feline-inspired ones are gaining favor. The cats' tokens rose nearly 20% in 24 hours, whereas the dogs' only up 3.7%.
Crypto market gains have been led by cat-themed memecoins in recent days. Popcat, for instance, has risen over the recent retrace and into the top 10 memecoins.
Popcat, which seems to be gaining a dedicated following, has shown double-digit gains this week. The coin briefly flipped BOME with its $570.3 million market valuation, according to SolanaFloor.
Memecoin researcher Murad predicts Popcat will rise to $5-10 as “the Crowned Top Cat.” The trader specified multiple objectives, including a long-term $20 scenario, as the coin surpassed its ATH of $0.618 on Thursday.
MEW became the eighth biggest memecoin by market capitalization a month ago, joining the dogs. Monthly and weekly price drops of 51.8% and 28.4% have plagued the lonely kitty since then.
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