The cat-themed meme coin “Cat in a Dogs World” (MEW) on the Solana blockchain surged to an all-time high of $0.01136 on October 24, capitalizing on a recent wave of enthusiasm for meme coins. The token’s trading volume exceeded $474 million within a 24-hour period, reflecting a remarkable increase of 177% at the time of reporting.
At that time, MEW’s price was approximately $0.01114, representing a 26% rise over the previous day and elevating its market capitalization to over $990 million. According to market data from Crypto News, “Cat in a Dogs World” now ranks as the 83rd largest cryptocurrency by market cap, placing it 10th in the meme coin category, ahead of competitors like Mog Coin and the day’s other standout, Goatseus Maximus.
On the same day, Bitstamp, a prominent cryptocurrency exchange, announced the addition of trading support for the MEW token, offering MEW/USD and MEW/EUR pairs for users globally. Additionally, the decentralized on-chain perpetual swap platform Drift Protocol has introduced support for MEW perpetual futures, allowing traders to leverage their positions up to 4x. This follows the launch of MEW perpetuals on Kwenta and Synthetix on the layer-2 chain Base, which went live on October 22.
The recent surge in meme coin activity and multiple exchange listings have contributed to the remarkable rise of this cat-themed token. Data from Coinglass indicates that the futures open interest for “Cat in a Dogs World” has skyrocketed by 59%, surpassing $211 million. The bullish sentiment surrounding MEW has also led to liquidations exceeding $2.47 million within a 24-hour timeframe, predominantly in short positions, which accounted for approximately $1.79 million.
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