Cat in a dogs world, a popular cat-themed meme coin on the Solana blockchain, experienced a significant surge in its price, reaching an all-time high on October 24th.
Amidst a broader rally in meme coins, cat in a dogs world (MEW) saw its price spike to $0.01136, setting a new record. The token also saw a substantial increase in trading volume, with over $474 million worth of MEW changing hands within a 24-hour period, representing a 177% surge.
As of the latest data, MEW was trading at around $0.01114, with buyers driving a 26% increase in its price over the past day. This surge propelled the meme coin’s market capitalization to over $990 million, making cat in a dogs world the 83rd largest cryptocurrency by market cap, according to information from crypto.news.
In the realm of meme coins, MEW ranked 10th overall, outperforming other popular meme coins such as Mog Coin (MOG) and Goatseus Maximus (GOAT) on that particular day.
The bullish momentum for MEW was further boosted by the news that the cryptocurrency exchange Bitstamp had listed the token for trading. Bitstamp users now have access to MEW/USD and MEW/EUR trading pairs, expanding the coin’s reach to a global audience.
Additionally, the decentralized on-chain perpetual swap platform Drift Protocol, which is based on the Solana blockchain, introduced support for MEW perpetual futures. This new contract allows traders to leverage their positions by up to 4x. The recent listing of MEW perpetual futures on Kwenta and Synthetix on the layer-2 chain Base further contributed to the coin’s upward trajectory.
The combination of the meme coin rally and the multiple exchange listings played a significant role in driving cat in a dogs world to its new all-time high.
Data from Coinglass revealed that the futures open interest for MEW surged by 59% to over $211 million, indicating growing market interest in the token. Moreover, liquidations for MEW exceeded $2.47 million in the past 24 hours, with a majority of these liquidations coming from short positions totaling $1.79 million.
Overall, the surge in MEW’s price and trading activity underscores the growing popularity of meme coins in the cryptocurrency market, with cat in a dogs world emerging as a standout performer in this space. Investors and traders will be closely watching to see if MEW can sustain its upward momentum in the days ahead.