On October 8, 2024, CATS tokens were listed on major exchanges such as CoinEx and KuCoin. Immediately after its launch, the price of CATS showed strong volatility. The opening price of CATS initially skyrocketed due to community interest, however, after a short time, it suffered major corrections. On Binance, the price of CATS peaked at $0.00023, but is currently trading around $0.000098, reflecting the volatility and risk of this new token.
The main reason for the price volatility of CATS lies in its unstable liquidity and high level of speculation, especially since the token is quite new and does not have a stable trading volume. Additionally, CATS’s inclusion in MEXC Futures trading has further increased volatility as investors can bet on its future value through highly leveraged contracts. These factors have led to sharp price spikes followed by sharp drops, which are typical of highly speculative memecoins like CATS.
Investors are advised to be cautious with these sharp fluctuations, as the cryptocurrency market is always risky, especially with newly listed coins like CATS.
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