Solana Cat Meme Coin Surges 117%, but There Is Something You Need to Know

Sudden surge of meme coin known as Popcat could be tied to some insider trading

The Solana meme coin released some time ago suddenly attracted attention of retail traders, surging 117% since July 11. However, there is some silver lining not many are aware of.

A wager on Polymarket surfaced in 2024 regarding the first cat-themed meme coin to hit $1 billion in market capitalization. With an all-time high (ATH) of almost $800 million, Mew was leading the race in April.

But the decline of the token was brought about by bad press created by certain influencers who made claims that the token was VC-backed and promoted it in questionable ways. Ansem and other influencers allegedly made over $250,000 by promoting the token.

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