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.
The market capitalization of POPCAT is approximately $741.9 million, while MEW's market capitalization has reached $563 million. Although an earlier report by AMBCrypto predicted that MEW could surpass POPCAT in market capitalization, this situation has not yet occurred.
Although the market generally expects meme coins to experience a significant turnaround, there are currently no clear signs that MEW will show stronger performance in the coming weeks.
It is worth noting that recent market sentiment has remained low, and investors are generally cautious.
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 crash, social volume is also on a downward trend, with fewer market participants releasing information about the token.
In the past two to three weeks, other altcoins have also attracted public attention, while meme coins have remained in a slump.
Data from Coinalyze reveals the short-term sentiment behind these two memes. Over the past week, Popcat's open contracts have remained stable at around $165 million to $170 million.
This indicates that speculators tend to maintain a wait-and-see attitude and lack confidence in a strong short-term trend, whether bullish or bearish.
The spot CVD trend is showing a strong upward movement, suggesting that prices may rise in the coming days.
MEW's open contracts also hover around $28 million, indicating reduced speculative expectations.
However, the lower open interest indicates that POPCAT is a more popular asset in the futures market. The spot CVD has remained stable in recent days.
Overall, neither MEW's social trend nor its speculative trend shows signs of increased bullish confidence. This standard is crucial for a reversal in meme coins.
Despite POPCAT's significant decline over the past month, the price trends of the two cat meme tokens have remained in sync.
