4 months ago
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Over the last ten days, MEW’s market cap has grown by 180%.
The cryptocurrency market is abuzz with the rise of “Cat in a Dogs World” (MEW), which has surged over 100% in the past seven days. Launched in March, the Solana-based MEW token aims to disrupt the dog-themed meme coin market, dominated by tokens like Dogecoin (DOGE) and Dogwifhat (WIF).
Over the last ten days, MEW’s market cap has grown by 180%. On July 14, it was valued at $268 million, but it currently sits at $750 million, securing the ninth spot in market capitalization among meme coins. CoinMarketCap reports that MEW’s trading volume surged to $2.07 billion on Tuesday. However, it has now settled down to $260 million.
The Solana-based meme coin is trading at $0.0083 at the time of writing, up by over 10% in the last 24 hours. Notably, the token is 18% down from its all-time high of $0.01034, achieved on March 31.
MEW’s storyline, airdrop program, and rapid growth rate have attracted significant investor interest. It is also gaining traction through new listings and collaborations. On July 17, Binance Futures launched the USDⓈ-M MEW Perpetual Contract. Additionally, crypto exchanges WhiteBIT and ProBit also announced the listing of the MEW token recently.
Meanwhile, MEW is also boosting its popularity with attractive branding and ads. Several crypto influencers on X (formerly Twitter) are supporting the meme token in the past few days. Moreover, Cat in a Dogs World has also featured its logo on Web 3.0 gaming project Pixelverse’s Telegram stickers.
The MEW team has also declared this bull cycle the “global cat season,” anticipating that cat-themed tokens will outperform other meme coins. This has resulted in the surge of several cat-themed meme tokens. For instance, CatCoin (CAT) has seen a growth of over 60% in its value in the past seven days. Similarly, MeowCat (MEOW) has also witnessed a 110% surge during the same period.
Community Divided
MEW token’s rapid ascent has also gained criticism. An X account user “cex offender” has raised alarms about hidden paid promotions involving key opinion leaders (KOLs). The project is giving influencers $250,000 worth of USDC to promote MEW without revealing their payment, they said. The account also hinted at possible regulatory scrutiny of the project, by stating:
“Gotta be transparent cause at the end of this bull run the feds are gonna do a sweep and most definitely mew will be under investigation after learning what I learned.”
The token has also faced criticism in some Reddit forums, where investors have advised caution while investing in it. Despite this, MEW continues to receive promotion from several Reddit forums and X accounts, creating a divided sentiment in the community.
