Key Takeaways:
The memecoin market used to be dominated by dog-themed tokens, with tokens like Dogecoin (DOGE) and Shiba Inu (SHIB) dictating the upward or downward trend. However, recently there has been an influx of cat-themed meme coins flooding the market and pulling incredible numbers.
In October, three particular feline tokens became popular among investors, which are: Cats in a Dogs World (MEW), Popcat (POCAT), and Cutoshi (CUTO). Among the three, CUTO is poised to outperform with its unique DeFi functionality.
MEW Coin Surges to ATH Amid Listing on Bitstamp Exchange
The price of MEW surged by 57% in October, hitting an all-time high of $0.0115. However, as soon as the token hit its peak, early investors began taking profits, which resulted in its price retracing to $0.0093. Cats in a Dogs World has seemingly found its support level and also experienced a 77% surge in trading volume, with over $220 million worth of MEW changing hands in the past 24 hours.
MEW’s recent rally can be attributed to its listing on the Bitstamp exchange. Memecoins unfortunately have a bad reputation because they are often used as the breeding ground for pump-and-dump schemes, but exchange listings are seen as a vote of confidence for these tokens. Cats in a Dogs World could experience significant price action due to the exchange listing, which would pave the way for future growth.
At the time of writing, MEW is trading at $0.009352 – down 2.8% over the last 24 hours.
Solana Investors Are Rotating Profits Into POPCAT
Popcat (POPCAT) has largely been on the upward trend ever since it was launched in January, bar a few price corrections. The memecoin has surged by more than 100x during that time and has become one of the top performers in the market. POPCAT attained its all-time high valuation a few days ago when it traded at $1.67.
However, selling pressure intensified after the token reached the milestone as investors looked to capitalize on their gains. This resulted in POPCAT revisiting the range of its previous resistance levels.
Recently, crypto influencer FomoCrypto provided some optimism for POPCAT holders after he discovered that larger wallets are rotating their Solana (SOL) profits into the token. This also correlates to the consistent surge in the POPCAT trading volume, which stands at $217 million.
At the time of writing, POPCAT is trading at $1.65 – down 2.3% in the last 24 hours.
CUTO Token Presale Raises Over $600,000
Cutoshi is a newly launched cat-themed meme coin drawing inspiration from the Japanese lucky cats that are said to bring good fortune and prosperity to businesses and households.
At the heart of the Cutoshi ecosystem is the CUTO DEX, which is a cross-chain decentralized exchange that seamlessly connects multiple blockchains, allowing users to trade cryptocurrencies while ensuring privacy and security. The exchange charges a nominal fee of 0.25% and users can enjoy near-instant transactions.
Cutoshi also has a novel revenue-sharing model that consistently rewards users for actively engaging with the platform through its Custoshi Farming Initiative. Here users are presented with various missions and quests that will earn them Cutopoints, which can be redeemed for CUTO tokens.
Another aspect of the platform is the Cutoshi Academy, which is a learning portal that aims to bridge the knowledge gap by teaching beginners the basics of crypto trading, long-term investing, and portfolio management.
CUTO is currently in its pre-sale phase and has entered the second stage. The token distribution event for early investors has raised well over $600,000 so far. CUTO is currently priced at $0.022, and considering the various DeFi products and services on offer and the uniqueness of its meme coin ecosystem, Cutoshi could soar in value in the coming weeks or months.
Read More: PEPE Debuts In The Japanese Market. Can We Expect A Bull Run For The Memecoin?
