Cat-themed meme coins see surging interest across the market

Several cat-themed meme coins are trending on CoinGecko, with some recording three-digit gains over the past week.

While the overall crypto market is seeing a brief liquidation, as traders are taking profits from leading assets like Bitcoin and Ethereum – the meme coin market continues to reach new heights. The meme coin market cap increased by 4% today, despite the overall crypto market cap dipping by 1.5%.

New presale tokens are largely driving this meme coin rally as investors continue to look for new projects, after the recent success of BOME and Slerf. However, cat-themed tokens seem to be experiencing high interest across social media.

CAT token, one of the oldest cat-themed meme coins, reached a new all-time high today after rallying 430% in a day and over 1,000% since last week. The token’s surge is likely due to random hype on social media, as meme coin traders place their bets across several assets.

Another cat-themed token Chonk The Cat (CHONK), launched with a presale last week and surged nearly 200% since then. Most recently, the $MEW token launched earlier today and saw several FOMO trading activities across the board.

$MEW rallied after being listed by Poloniex after its launch, which saw few traders turning small investments into millions. According to Lookonchain, one user invested $35,000 worth of $SOL on $MEW, seeing a $8.9 million return in just two hours.

However, FOMO trading also saw one trader lose over $200,000 as $MEW dropped 54% after hitting its peak.

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