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Breaking News: Major Win For Memecoins: SEC Affirms They Typically Do Not Qualify As Securities
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Breaking News: Major Win For Memecoins: SEC Affirms They Typically Do Not Qualify As Securities

Cat-Themed Memecoins Growing Popularity: Traders Earn Millions With MEW and MOEW

Rubmar Garcia
Rubmar Garcia
1 year ago
3 mins read
memecoins, cat-themed memecoins, crypto

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Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
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The memecoin market has been dominated by dog-themed tokens for the past few years. Despite not being as popular and well-known as their canine crypto counterparts, cat-themed tokens are starting to appear at the forefront of the meme-inspired market.

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Memecoins can become a market sensation overnight, and their communities can be some of the most supporting investors, as seen with the Vegas Sphere “wif on sphere” fundraiser campaign.

Dogecoin and Shiba Inu remain the biggest tokens by market capitalization in this category. About a month ago, eight of the ten largest memecoins by market capitalization were canine-inspired.

Nonetheless, cat-themed tokens have started infiltrating the pack of dogs after a recently launched player made it to the top ten memecoins list.

Cat in a Dogs World (MEW) launched on March 26 and just 48 hours later reached a $200 million market cap. MEW surpassed BONK, WIF, and PEPE as the fastest fair launch to accomplish this feat.

MEW’s market cap reached $644 million in just eight days, making it the eighth largest memecoin by this metric. Moreover, the token rallied over 50% on Wednesday after crypto exchange KuCoin announced its listing.

Crypto, memecoins

Cat in a dogs world among the top 10 memecoins. Source: CoinMarketCap

MEW’s performance in the past seven days shows an impressive 267.54% surge. Despite this, the token’s rally slowed down today. The cat-themed cryptocurrency lost over 15% of its value from the day prior. At writing time, MEW is trading at $0.00737049.

Similarly, its daily market activity took a hit, decreasing 35.3% to $208.4 million traded in the past 24 hours.

What Are They Feeding Cat-Themed Memecoins?

The growing interest in feline-inspired tokens has resulted in many newly launched memecoins quickly surpassing massive levels.

On Wednesday, a new token called Ansem’s Cat (HOBBES), inspired by Hobbes, the cat of crypto trader Ansem, broke a $100 million market cap on its launch day.

MOEW, a Base token launched on Wednesday, made the news after a trader turned $13,000 into $2 million in just one hour. According to data provided by Lookonchain, the crypto trader spent 3 ETH ($13,000) to buy 499.9 million MOEW, a 158x gain.

Then, the trader sold 116 million MOEW for 99 ETH, around $328,000, when the rice surged. At the time of the report, the trader had 388.24 million MOEW left, worth over $1.7 million.

In less than 1 hour, this guy turned $13K into $2M, a gain of 158x!

He spotted $MOEW 10 minutes after opening trading and spent 4 $ETH($13K) to buy 499.9M $MOEW.

Then he sold 111.65M $MOEW for 99 $ETH($328K).

He currently holds 388.24M $MOEW, worth $1.76M.… pic.twitter.com/DFRGOYh8ZM

— Lookonchain (@lookonchain) April 3, 2024

Similarly, another trader made a profit on MEW’s opening day. In 20 minutes, this crypto trader made almost $900,000 in profits from selling SOL and buying the memecoin.

Nonetheless, the community has questioned these whale moves. Many wonder whether the cat-themed profits come from strategic trading or insiders from the projects.

Whichever the case, cat-themed tokens are starting to make a sound in the crypto market. Ultimately, the crypto community has begun noticing potential in the feline-inspired coins.

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1 year ago

memecoin, MEW, MEWUSDT, Cat-themed tokens, crypto

MEW's performance in the weekly chart. Source: MEWUSDT on Tradingview.com
Featured Image from Unsplash.com, Chart from TradingView.com
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Rubmar Garcia
Rubmar Garcia

Rubmar Garcia

Rubmar is a writer and translator who has been a crypto enthusiast for the past four years. Her goal as a writer is to create informative, complete, and easily understandable pieces accessible to those entering the crypto space. After learning about cryptocurrencies in 2019, Rubmar became curious about the world of possibilities the industry offered, quickly learning that financial freedom was at the palm of her hand with the developing technology.

Read more

From a young age, Rubmar was curious about how languages work, finding special interest in wordplay and the peculiarities of dialects. Her curiosity grew as she became an avid reader in her teenage years. She explored freedom and new words through her favorite books, which shaped her view of the world. Rubmar acquired the necessary skills for in-depth research and analytical thinking at university, where she studied Literature and Linguistics. Her studies have given her a sharp perspective on several topics and allowed her to turn every stone in her investigations.

In 2019, she first dipped her toes in the crypto industry when a friend introduced her to Bitcoin and cryptocurrencies, but it wasn’t until 2020 that she started to dive into the depth of the industry. As Rubmar began to understand the mechanics of the crypto sphere, she saw a new world yet to be explored.

At the beginning of her crypto voyage, she discovered a new system that allowed her to have control over her finances. As a young adult of the 21st century, Rubmar has faced the challenges of the traditional banking system and the restrictions of fiat money.

After the failure of her home country’s economy, the limitations of traditional finances became clear. The bureaucratic, outdated structure made her feel hopeless and powerless amid an aggressive and distorted system created by hyperinflation. However, learning about decentralization and self-custody opened a realm of opportunities. Cryptocurrencies allowed her to experience financial control for the first time and expand her financial education.

Moreover, the peculiar nature of the crypto community sparked Rubmar’s curiosity about the other layers of the industry. As a result, she found a particular interest in discovering the diverse perspectives of investors, market watchers, experts, and developers. Her attempts to better understand the crypto space made her realize the strong links of the community with other industries, enriching her perspective of the sector. As someone who spends most of her day online, Rubmar enjoys finding the points where the crypto world meets with her other passions and hobbies ­–or her favorite memes.

In her free time, she usually finds joy in different art forms. As a child, she enlisted in every extra-curricular activity in her hometown, including music classes, dancing, jewelry making, and the local chorus. Despite her many attempts to learn different instruments, Rubmar only knows how to play the xylophone, which she played for 7 years in her school’s marching band.

She also has a passion for learning new languages and cultures, having set the goal to learn another six languages ­– currently attempting to learn Italian and Korean. Scrapbooking, paper crafting, and bookbinding are her biggest interests outside of work, constantly taking classes and attending workshops to learn new techniques. The rest of her free time is spent stressing over football matches and transfer market news or feeding cats –hers or stray.

In summary, Rubmar seeks to present entertaining and educational pieces to be enjoyed by everybody, aiming to report on the latest news and offer a unique perspective while adding a meme or a pun whenever possible.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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