Tokens like POPCAT, MEW, MOG, and CAT have experienced significant gains, with some seeing increases of up to 40% in just one week. This surge in value is attributed to the 50 basis point rate cut by the U.S. Federal Reserve, indicating a return of risk-on sentiment in the crypto market. POPCAT has reached a $1 billion market cap, MOG has surged 70% in two weeks due to strong social media support, and CAT, linked to Simon's Cat comics, has seen $145 million in trading volume in the last 24 hours. Analysts predict continued growth in memecoins, fueled by anticipated liquidity increases and positive market sentiment, potentially leading to a significant boom. Cat-themed memecoins are particularly gaining traction, outperforming their dog-themed counterparts.
- Content Editor ( coindesk.com )
- 2024-09-20
Cat-Themed Memecoins Emerge as Preferred Risk On Bets With 40% Surge in a Week