On July 22, 2024, the meme coin market saw a notable shift, with cat-themed meme coins making significant strides.
Among these, Cat in a Dogs World (CRYPTO:MEW) led the charge, experiencing a remarkable 40% surge in value.
This increase pushed MEW to a new all-time high of over $0.008, and its market capitalisation surpassed $700 million for the first time.
This places MEW as one of the top contenders in the meme coin sector, now ranked 109th by market cap.
The surge in MEW’s value has generated considerable excitement, with some analysts predicting it might soon surpass the $1 billion market cap milestone.
Alongside MEW, other cat-themed tokens like Wen (CRYPTO:WEN), MANEKI (CRYPTO:MANEKI), catwifhat (CRYPTO:CWIF), and Catcoin (CRYPTO:CAT) have also seen impressive double-digit gains.
However, not all cat-themed tokens are on the rise; Popcat (CRYPTO:POPCAT), the largest cat-themed token by market cap, has seen a decline, trading around $0.89 after peaking at nearly $1 on July 21.
In contrast, dog-themed meme coins, which traditionally dominate the sector, have shown more modest gains.
Dogecoin (DOGE) has risen about 5% over the past day, while Shiba Inu (CRYPTO:SHIB) has remained relatively stable.
Despite these gains, they have been overshadowed by the performance of cat-themed meme coins.
Other notable dog-themed coins like Dogwifhat (CRYPTO:WIF), Bonk Inu (CRYPTO:BONK), and Floki Inu (CRYPTO:FLOKI) have also performed well, but not to the extent of their cat-themed counterparts.
The meme coin market remains highly volatile, with significant fluctuations in value.
As the trend towards cat-themed meme coins grows, it will be interesting to see if this momentum continues or if a market correction occurs.
Investors should approach this sector with caution, only investing amounts they are prepared to lose and staying informed about market developments.