crypto.news
As Solana meme coins continue dominating the bull market, traders are shifting to a new niche of cat-themed tokens.
The meme coin market cap has increased by 9% today, reaching nearly $70 billion. Within this sector, the market cap of Solana meme coins has increased by over 20% today, exceeding $8 billion.
However, the top gainers in the meme coin market today are not the most popular tokens like DOGE, SHIB, BONK, or even WIF, which reached a new all-time high. Instead, it’s a new category of cat-themed tokens.
Cat in a Dogs World (MEW), one of the latest Solana-based cat meme tokens, rallied by 110% today after launching earlier this week. Within just 48 hours of trading, the token reached a $200 million market cap.
Lookonchain says several early traders have made millions with MEW, starting trading as low as 30 SOL. One trader turned a $6,000 investment into $530,000 in hours. The hype behind MEW seems to be shifting interests, as meme coins enthusiasts constantly look for the next promising presale in the bull market.
The rising interest in meme coins drives Solana’s market performance, as the altcoin gained nearly 70% in March.