- Another Memecoin on Solana Makes an Impression on Investors
A new memecoin on the #Solana network, Cat in a Dogs World (MEW), has caught the attention of investors by swiftly surpassing a market cap of 500 million within just five days of its launch. This latest meme sensation, MEW, has quickly become a focal point within the cryptocurrency community.
#MEW's Remarkable Allure
What's particularly striking is the appeal MEW has even to prominent crypto whales. Reports indicate that a notable Solana whale investor has shifted a substantial amount of funds from the popular BOME coin to MEW, causing a stir in the community. This whale has amassed a staggering 9.6 billion MEW tokens, equivalent to 10.8% of the total supply, showcasing significant confidence in the token's potential.
This development has ignited unparalleled excitement in the cryptocurrency investment sphere. Even prior to the whale's pivot, BOME witnessed a substantial price surge, indicating the optimistic sentiment among investors and their confidence in the profit prospects of new meme tokens.
The Memecoin Race on Solana
MEW's price surge is viewed as the latest episode in the rapid price escalation observed by other meme coins such as $WIF , $BONK , and $BOME on the Solana network. This positions MEW as a formidable contender in the dynamic "meme token" competition.
Currently, MEW's price has surged by 142.95% in the past 24 hours, reaching $0.0076. Its market capitalization has soared to $639.45 million, marking a 140.78% increase from the previous day. Moreover, the 24-hour trading volume has surged by 322.97%, hitting $448.602 million, underscoring the growing appeal of this new token.
As Solana continues its upward trajectory by 5.78% to $196.56, MEW's direct competitor, WIF, has also climbed to $4.50, marking a 22.98% increase. The competition among meme tokens is intensifying within the promising Solana ecosystem.
