Cat-Themed Meme Coins Surge

New presale tokens, particularly those with cat-themes, are driving this rally, fueled by social media enthusiasm.

Several cat-themed meme currencies have experienced gains in the triple digits over the past week and are currently trending on CoinGecko.

As traders seek to profit from leading assets such as Bitcoin and Ethereum, the cryptocurrency market as a whole is experiencing a fleeting liquidation. However, the meme coin market continues to soar to new heights.

Today, the meme coin market capitalization increased by 4%, while the total crypto market capitalization declined by 1.5%.

New presale tokens are primarily responsible for cat-themed meme coin rally as investors seek out new ventures after BOME and Slerf’s recent successes. On the other hand, there appears to be considerable interest in cat-themed tokens on social media.

CAT token, one of the oldest meme currencies with a cat-theme, surpassed 1,000% since last week and surged 430% in a single day to reach a new all-time high today.

The surge in the token’s value is plausibly attributable to arbitrary enthusiasm on social media, given that meme coin merchants wager on multiple assets.

Cat-themed Tokens Reach Stratospheric Heights

Chonk The Cat (CHONK), an additional token with a cat motif, debuted with a presale last week and has since increased by nearly 200 percent. Recently, the MEW token debuted earlier today, and there were numerous FOMO trading activities in general.

Following its listing on Poloniex after its debut, wherein a limited number of traders converted modest investments into millions, MEW surged.

Lookonchain reports that a single user who wagered $35,000 in SOL on MEW received a return of $8.9 million in less than two hours.

Nonetheless, one trader lost more than $200,000 due to FOMO trading as MEW fell 54% after reaching its apex.