Over the past month, the price trends of both Popcat (POPCAT) and cat in a dogs world (MEW) have shown a downward trend.
Their price movements closely follow the broader meme coin market fluctuations, which has been in a slump since mid-November.
POPCAT's market capitalization is approximately $741.9 million, while MEW's market capitalization has reached $563 million. Although an earlier report by AMBCrypto predicted that MEW might surpass POPCAT in market capitalization, this situation has yet to occur.
Although the market generally expects meme coins to experience a major reversal, there is currently no clear indication that MEW will show stronger performance in the coming weeks.
It is worth noting that recent market sentiment has remained low, with investors generally adopting a cautious attitude.
AMBCrypto compared the sentiment and social trends of the two currencies. Over the past month, POPCAT's weighted sentiment has been negative, indicating a lack of enthusiasm in online interactive posts.
Due to the price drop, social volume is also on the decline, with fewer market participants releasing information about the token.
In the past two to three weeks, other altcoins have attracted public attention while meme coins have remained sluggish.
Data from Coinalyze reveals the short-term sentiment behind these two memes. Over the past week, Popcat's open interest has remained stable at around $165 million to $170 million.
This indicates that speculators tend to adopt a wait-and-see attitude and lack confidence in strong short-term trends, whether bullish or bearish.
Spot CVD is showing a strong upward trend, indicating that prices may rise in the coming days.
MEW's open interest also hovers around $28 million, indicating reduced speculative expectations.
However, lower open interest means that POPCAT is a more popular asset in the futures market. Spot CVD has remained stable in recent days.
Overall, MEW's social trends and speculative trends show no signs of increased bullish confidence. This standard is crucial for the reversal of meme coins.
Despite a significant drop in POPCAT's price over the past month, the price trends of the two cat meme tokens have remained consistent.
