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

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. Related Reading: Memecoins Reign Supreme: CoinGecko Reveals Most Profitable Crypto Narrative Of Q1 Cats In A Dogs Crypto Market 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. MEWs 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. Cat in a dogs world among the top 10 memecoins. Source: CoinMarketCap MEWs performance in the past seven days shows an impressive 267.54% surge. Despite this, the tokens 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 Ansems 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 MEWs 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. Related Reading: Dogecoin Hits Major Roadblock As Whales Go On Massive Selling Spree 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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Hedge Funds Fall For The Memecoin Frenzy: Mind-Boggling Returns Tempt Financial Giants

In a recent Bloomberg report, it has come to light that the hedge fund industry is increasingly drawn to the allure of the memecoin sector, given the recent price increases and substantial profits that surpass those of Bitcoin (BTC) or the largest altcoins in the market. Memecoin Mania One example of the appeal of memecoins [...]

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Crypto Analyst Touts Base As Next Memecoin Hotspot: Top 8 Picks

In an analysis shared with his nearly 100,000 followers on X (formerly Twitter), the crypto analyst known by the pseudonym Xremlin (@0x_gremlin) has pinpointed Base as the burgeoning hub for memecoin enthusiasts and investors. This proclamation follows a season of unprecedented gains in the Solana memecoin market, with tokens like BOME, WIF, and SLERF achieving returns ranging from 300x to 1000x. Xremlin’s insight into the crypto market dynamics suggests a potential replication of these astronomical returns on Base, underlined by a tweet stating, Meme traders on Solana printed millions this season: BOME: 800x, WIF: 1000x, SLERF: 300x. BASE season is just revving up, and might have a similar rally. Meme traders on Solana printed millions this season:$BOME: 800x $WIF: 1000x $SLERF: 300x$BASE season is just revving up, and might have a similar rally. List of memes on Base with 10-500x potential pic.twitter.com/wAs5hde0N9 — Xremlin (@0x_gremlin) March 21, 2024 The transition of focus towards Base is attributed by the analyst to its association with Coinbase and an upcoming product launch aimed at simplifying on-chain trading. Xremlin elaborates, “Why Base? Coinbase has a large user base in the US, but trading on-chain can be too complex for normies. Soon, Coinbase will launch a product that enables its CEX users [100M+] to trade on Base without requiring seed phrases or private keys.” This move is anticipated to significantly lower the entry barriers for new investors, potentially catalyzing a memecoin rally on the Base platform. Related Reading: Leading The Pack: Solana Captures Nearly 50% Of Global Crypto Attention However, amidst the excitement, Xremlin issues a word of caution to their followers: Remember: Investing in memes is high risk. Only bet what you can afford to lose. Projects might rug, slow rug, or suddenly tank by 50%-70% when the hype fades. This cautionary advice reflects the inherent volatility and risk associated with memecoin investments, where the line between significant gains and losses can be remarkably thin. Diving Into The Top Crypto Memecoins On Base Xremlin’s curated list of Base memecoins is not only varied but also rich with potential, highlighting projects inspired by cultural references, pets of notable figures, and even caricatures of industry leaders. Here’s a closer look at the analyst’s picks: TOSHI: Touted as a tribute to Brian Armstrong’s cat, named after the enigmatic Satoshi Nakamoto, TOSHI represents a playful investment opportunity. Xremlin notes, “TOSHI could be the flagship memecoin of Base, drawing on the crypto community’s reverence for Nakamoto and Armstrong’s influence.” DEGEN: With its strategic distribution to Farcaster users, DEGEN taps into a community already engaged and familiar with crypto, setting a precedent for community-driven value. DOGINME: This memecoin capitalizes on the popular phrase “Got that dog in him, embodying the resilience and tenacity celebrated in crypto trading circles. Related Reading: Hold Your Horses: Buying The Crypto Dip Is Still Too Early Warns Top Analyst Heres Why MOCHI and PONCHO: Both cat-themed coins seek to attract the attention of cat lovers, just as dog-themed memecoins such as Dogecoin, Shiba Inu and FLOKI attract that of dog lovers. MOCHI is based on Brian Armstrong’s pet. TYBG: Self-described as “The most based meme on Base,” it signifies the meta-culture of memes within the crypto space, where self-referential humor often garners substantial community support. BRIUN: A direct caricature of Coinbase CEO Brian Armstrong, BRIUN embodies the intersection of meme culture and crypto’s leadership, underlining the community’s penchant for satire. ELONRWA: Inspired by a sketch of Elon Musk, this project aims to bridge the gap between digital tokens and real-world assets, representing the innovative and often speculative nature of memecoin investments. Xremlin further emphasizes the importance of community and research in navigating the memecoin market: For those interested in researching Base memes, I recommend joining the /base channel on Warpcaster. Community insight is invaluable, and collective due diligence can help mitigate risks associated with memecoin investments. At press time, TOSHI traded at $0.000321653, up 210% in the last three weeks. Featured image from Shutterstock, chart from TradingView.com

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