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Meme Frenzy Continues
The wallet spent 0.04 $ETH, about $69, to buy 20 million $CASHCAT, then sold the position for 0.415 $ETH, roughly $711 (a solid 10x return). Lookonchain flagged the wallet, noting the tokens would now be worth over $2.7 million.
Cash Cat has been the breakout token of Robinhood Chain, the Ethereum layer 2 network the brokerage launched on July 1 using Arbitrum’s technology. The meme coin (which describes itself as “fan fiction with a ticker”) is built by outsiders around the cat-with-cash logo Robinhood used in its earliest days, and the company itself has no role in the project.
A 5,500% Week on Robinhood’s New Chain
$CASHCAT jumped over 1,400% in a single 24-hour stretch this week and has climbed more than 5,500% over seven days, touching an all-time high of $0.16 earlier today. The rally accelerated after Robinhood CEO Vladimir Tenev posted about the chain’s capacity to host both meme coins and tokenized real-world assets, drawing a wave of attention to tokens already live on the network.
The frenzy has minted headline-grabbing winners, with another trader turning $838 into $1.05 million after holding 15 million $CASHCAT for 20 days. Similarly, another investor parlayed $85 into a $2 million cashout.
Activity on the new network has followed the money, with Bitcoin.com News reporting yesterday that Robinhood Chain’s decentralized exchange ( DEX) volume hit a record $563.9 million, with Cash Cat alone accounting for roughly $98 million in daily trading and more unique traders than any other token on the chain.
The Liquidity Trap Beneath the Meme
Cash Cat’s order books show that the token carries a market value of about $150 million against roughly $6.6 million of liquidity in its main Uniswap pool. That ratio means the paper wealth of holders cannot all exit at anything close to current prices (if even a fraction tries to sell at once, the price collapses long before most positions clear).
Meme coin veterans can easily recognize the pattern from prior cycles, where thin- liquidity tokens produced spectacular screenshots and equally spectacular round trips. That said, it will be interesting to see whether Robinhood Chain’s retail pipeline keeps feeding fresh buyers into the ecosystem faster than early wallets take profits.
The chain logged roughly 193,000 active addresses days after launch, momentum that could sustain the casino a while longer, or simply widen the pool of traders who will one day tell their own version of the $711 story.