Markets
MEW Jumps 16%, Becomes Crypto Market’s Top Gainer Today
MEW, the Solana-based meme coin known as the “cat in a dog world,” saw a notable increase of over 16% in the past 24 hours, making it the top gainer among cryptocurrencies on July 24.
At the time of writing, the cat-themed meme, The Cat in a Dog World (MEOW) was still up 11%, trading at $0.0081 according to price data on crypto.news. The crypto asset’s market cap jumped to $726 million, making it the 94th largest cryptocurrency.
MEW Price Data | Source: TradingView
Additionally, the meme coin’s daily trading volume has dropped by 16%, hovering around $250 million, suggesting that MEW investors are optimistic about its potential upside and would rather hold their positions than sell.
The latest MEW price hike follows a July 23 X-rated release in which WhiteBIT, one of the largest European centralized crypto exchanges in Ukraine, revealed that he had listed the same part.
Just a day earlier, the exchange had also announcement a bounty program that would see the top 250 participants rewarded with a prize pool of 6 million MEW tokens.
MEW was initially launched on the Raydium exchange, receiving a 10% airdrop to the Solana community on March 26. The launch was met with immediate enthusiasm, driven by the hype surrounding Solana and the coin’s engaging “Cat in a Dogs World” theme. Within just three hours of launch, MEW’s trading volume surged to $150 million.
Cat-themed tokens are valued at $2.7 billion overall after expanding in recent weeks. Popcat (POPCAT), another cat-themed meme coin on Solana, also saw a 12% surge on July 24, trading at $0.8155 at press time.
The MEW price increase also comes at a time when the global cryptocurrency market is experiencing a slight decline, sitting at $2.39 trillion. Bitcoin, the pioneer crypto asset, was also down 1.13%, trading at $658,876 at press time.