$CAT is the most undervalued memecoin currently
I believe the market cap will reach $600 million in the short term
It is the cheapest cat coin and the largest IP, with more than 25 million fans across platforms and 4 billion views
$CAT will be airdropped to $FLOKI holders based on the snapshot at 23:59:59 UTC on August 29
Several scenarios come to my mind:
1. Range-bound until August 29, then breakout shortly thereafter
I see too many people anticipating an “airdrop” which I think is a very plausible scenario
This means that many people are left on hold, waiting for the airdrop sell-off to occur before positioning themselves.
The only problem is that it will probably end up like the presale, which was expected to sell out but ended up being shelved as CAT only rose to a market cap of over $200 million in the 24-48 hours after launch.
This is because CAT is pre-sold entirely through the floki community
The Floki community is one of the most x-cult-like and diamond-enthusiastic communities in the entire cryptocurrency space.
A large portion of them held floki during the bear market, experiencing a market cap drop from its all-time high of $3.5 billion to $50 million, and they continue to hold on even though floki hit a new all-time high this year.
I doubt many people would be interested in selling CAT at this price
Therefore, it is not surprising that most airdrop recipients hold the airdrop and OTC capital is forced to bid
2. Pumped until August 29, briefly adjusted, then torn
This is another possible scenario, which I think is more likely to happen
“Why would people put $CAT into this known airdrop?”
Because they are speculating on Binance listing, that's why
CAT broke several records after it was launched on the BNB chain:
- On-chain activity increased fourfold, pushing it to levels never experienced by the BNB chain
- It helped BNB Chain surpass Solana in DEX trading volume for 3 consecutive days, setting a new cycle record
- It brought new enthusiasm to the BNB chain and helped boost its declining market share
In my opinion, this is an indicator that Binance pays close attention to.
Binance does list BNB integration and Binance support as two of the three most important ways to get listed. $CAT is the most notable project to do both this cycle
also:
CAT’s trading volume on the first day of launch reached an astonishing $400 million, most of which occurred on the BNB chain
Simon's Cat also achieved a trading volume of approximately $1.2 billion within 6 days of its launch, with an average daily trading volume of more than $100 million.
Binance will airdrop 10% of the $CAT supply to hundreds of thousands of $FLOKI holders who may withdraw the asset to trade elsewhere if it is not listed
CAT is a much-hyped asset with huge potential, one of the hottest cryptocurrencies right now and showing strong trading volume and demand across various platforms
If Binance doesn’t list it, it would be stupid
I personally think the second scenario is more likely to happen
3. CAT hovered until August 29, after which it adjusted and consolidated for a period of time, and then began to rise
I think this is the least likely scenario, but I don't want to rule anything out.
This is likely to happen if there is no news about CAT listing after the Binance airdrop
Even so, I think this will be a temporary correction, buy the dips
To be honest, it’s hard for me to imagine a scenario where Binance doesn’t list CAT.
If that happens, I'll probably bid a higher price for the CAT, even though I already have a large bag
To me, the most basic format of a CAT paper is simple:
- $POPCAT is worth $700 million, $MEW and $MOG are worth $400 million each
- CAT is more popular than the above three cat coins combined
- CAT currently represents only a small fraction of the market capitalization of these three companies
- As long as the above three conditions are met, CAT prices will be cheap and discounted, and will also be better promoted.
Notably, since its launch 6 days ago, CAT’s daily trading volume has consistently been higher than POPCAT, MEW, and MOG combined.
Therefore, any significant dip in CAT after the airdrop is worth aggressive buying in my opinion.
