This Cat-Themed Meme Coin Hits New ATH With Its Market Cap Surpassing $1 Billion
TL;DR
- The meme coin MEW tapped a new peak after rallying by another 8% in the past 24 hours.
- While some predict further growth, others warn of a potential pullback due to rising FOMO.
The Bull Run Goes on
The Solana-based meme coin Cat in a Dogs World (MEW) has been one of cryptos rock stars lately, with its price pumping by 85% on a two-week scale.
Several hours ago, it hit a new all-time high of over $0.01, while its market capitalization exceeded the psychological level of $1 billion. This positioned MEW as the 82nd-biggest cryptocurrency and the eighth-largest in the meme coin realm.
The asset started the month on the right foot, seeing a gradual price increase until October 21. After that, things went to another dimension, with MEW charting double-digit daily gains and climbing the crypto ladder. One evident reason fueling the rally was Upbits decision to allow trading services with the meme coin. As CryptoPotato reported, the biggest Korean cryptocurrency exchange listed the MEW/KRW trading pair.
It is worth mentioning that MEW is not the only cat-themed token that is well in the green today (October 25). Some of the other top performers include Purr (PURR), Wen (WEN), MANEKI (MANEKI), and more. On the other hand, Popcat (POPCAT) the leading cat-related meme coin is down 10% for the past 24 hours.
MEW Price Predictions
Multiple market observers believe the meme coins uptick is nowhere near its end. Crypto General (an X user with more than 200,000 followers) noted its consistent uptrend, suggesting more room for growth. The analyst envisioned a parabolic move to as high as $0.045 in the following days.
However, some forecasted a potential correction. Crypto_Jobs is among the pessimists, suggesting that the rising FOMO (Fear of Missing Out) could negatively affect MEWs valuation in the short term.
$MEW same as $popcat, im shorting here
The price remain bullish, But I think that a reversal will be see soon
FOMO buyers could be trap! #MEW #trading #crypto #bitcoin #dyor pic.twitter.com/pW9o3NphgE
Crypto_Jobs TA & FA (@CryptoJobs3) October 24, 2024
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Text source: CryptoPotato
