Simon’s Cat (CAT) experienced a 50% surge in value after becoming the first cat-themed token to receive a coveted Binance listing. The token’s price rose from $0.000039 to a record high of $0.000067 before pulling back some gains. Trading volume increased tenfold from $55 million to over $500 million.
Open interest in the token’s future products almost doubled to over $60 million, reflecting expectations of further volatility with a bullish bias. Binance announced that it would airdrop CAT to users of their Earn products who staked specific amounts of BNB tokens last week, and would then list 1000CAT at 09:00 UTC later on Tuesday.
Simon’s Cat is an animated series featuring a hungry house cat with over 20 million followers across YouTube, Facebook, and Instagram. The token’s IP backing is considered an advantage, as it offers a clearer legal standing regarding usage rights compared to non-IP memecoins, which are increasingly facing legal challenges.
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