Cat-Themed Meme Coin Soars After Binance Boost Heres What Happened

TL;DR

MEW outperformed the leading meme coins, surging by double digits on a daily scale.
Its pump occurred shortly after the assets inclusion on Binance Alpha.

MEW Climbs the Ladder

The meme coin sector has seen better days, with many tokens experiencing declines in the past 24 hours. PEPE has fallen by 2%, FLOKI (FLOKI) is down 2.5% for the day, while Shiba Inu (SHIB) has retraced by 3.5%.

However, some have charted substantial gains. An evident example is Cat in a Dogs World (MEW), whose price has jumped by almost 15% on a daily scale.

MEW Price, Source: CoinMarketCap

Currently, it is worth roughly $0.003077, which is the highest mark observed in the past six weeks. Its market capitalization surged above $270 million, making MEW the 14th-biggest meme coin.

Its upswing could be attributed to Binance, which recently placed the asset in its Binance Alpha section. The latter is a platform part of the exchanges ecosystem designed to spotlight crypto projects with growth potential. It serves as a pre-listing token selection pool and could be followed by official inclusion in the trading venue.

Despite its recent revival, MEW stands far from its peaks registered in 2024. Last year, the meme coin garnered significant attention from investors, while the popular exchanges that allowed trading services with it include OKX, Upbit, Kraken, Bybit, Gate.io, and others.

MEW reached an all-time high of around $0.012 in November 2024, and since then, it has been on a significant downfall. Back then, its market capitalization stood above $1 billion, coinciding with an overall boom of the entire meme coin niche.

The Binance Effect in the Past

Support from the worlds largest crypto exchange often positively affects the price of the involved assets due to increased liquidity and boosted accessibility. Last week, it included the meme coins Mubarak (MUBARAK), CZs Dog (BROCCOLI714), Tutorial (TUT), and Banana for Scale (BANANAS31) in its Binance Simple Earn section.

Some of the assets witnessed a significant rally shortly after the announcement. TUT was the best performer, recording an impressive 130% price explosion.

A similar case was observed in December last year when Binance added further support for the meme coin launched on the BNB chain Simons Cat (CAT). The assets valuation soared by 50% mere hours after the disclosure.

The post Cat-Themed Meme Coin Soars After Binance Boost Heres What Happened appeared first on CryptoPotato.

Text source: CryptoPotato

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