Solana Boosts MEW's Price Surge.

The past two weeks have been eventful in the cryptocurrency market, with significant price hikes. Solana (SOL) has seen a notable 15% increase over the last week. This upward trend has positively impacted other cryptocurrencies within the Solana network, notably Cat in a Dogs World (MEW), a meme coin. MEW experienced a dramatic surge of more than 31% in just 24 hours, capturing the attention of investors.

What is Driving MEW's Surge?

The rise in MEW's price is largely attributed

to Solana's recent gains. Anticipation

surrounding the potential approval of spot Exchange-Traded Funds (ETFs) for Solana in the United States, along with significant interest from South Korean investors, has

fueled MEW's growth. This growing

enthusiasm reflects broader market trends.

On July 21, 2024, cryptocurrency investor Joshua highlighted that Upbit, a major cryptocurrency exchange, reported over $90 million in daily trading volume for meme coins like Dogecoin (DOGE) and Shiba Inu (SHIB). Similarly, Bithumb's listing of MEW has seen the coin lead in total spot market volume on the exchange, with MEW's open interest in futures trading surpassing $63.62 million in just 24 hours.

How Much Will MEW Be Worth?

Analysts suggest that MEW is forming a

double bottom pattern on the weekly

chart, pointing to a potential continuation

of its upward trajectory. Breaking past the $0.0062 resistance level indicates strong

investor confidence, with the current price

standing at $0.007469. Should MEW maintain a strong close above $0.0065 on daily or weekly charts, it could see substantial gains. However, if it falls below this level, a decline to $0.0033 is possible.