Popcat Hits $1 Billion Mark
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A $630,000 purchase briefly pushed cat-themed memecoin Popcat over the $1 billion FDV mark, sparking controversy and winning a Polymarket bet.
A recent聽$630,000 purchase聽briefly pushed聽Popcat, a cat-themed memecoin, to over聽$1 billion聽in fully-diluted value (FDV), winning a聽Polymarket bet. This聽milestone聽highlights the rising popularity of cat-themed memecoins, a niche traditionally dominated by dog-themed coins like Dogecoin and Pepe.
The significant buy was made by a user known as聽Wiftardio聽on Twitter. This action not only resolved the Polymarket bet but also stirred controversy. Some traders accused Wiftardio of聽market manipulation, though he denied any connection to the betting market, saying he wanted to ensure the cat "keeps poppin'".
On-chain data showed Wiftardio's wallet holds nearly聽$19 million聽in various聽memecoins, including聽$7.7 million聽in Dogwifhat,聽$2 million聽in Billy, and now聽$5 million聽in Popcat. He first bought about聽$475聽worth of Popcat two months ago and quickly accumulated more than聽6.3 million tokens, valued at about聽$2.6 million聽at the time.
Despite its brief surge, Popcat has since fallen below the聽$1 billion聽FDV mark, now trading in the low-to-mid聽$900 million聽range. This fluctuation highlights the聽volatility聽of memecoins, driven by large transactions and speculative trading. However, the event has drawn attention to the聽cat-themed memecoin market.
Wiftardio's significant investment and timing have s
on which cat-themed
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