MEW, the Solana-based meme coin known as “Cat in a Dogs world,” has seen a remarkable 16% increase in the past 24 hours. This impressive MEW price increase has positioned it as the top gainer among all cryptocurrencies on July 24.
At the time of report, according to CoinMarketCap, MEW continues to ride this wave of growth, trading at $0.008375, which is still up by 9.66%. This MEW price has significantly boosted its market cap to $726 million, making it the 92nd largest cryptocurrency. The surge in MEW’s value is capturing considerable attention in the crypto market.
Despite the price hike, MEW’s daily trading volume has dropped by 16%, hovering around $250 million. This suggests that investors are optimistic about MEW’s future prospects and are choosing to hold onto their coins rather than sell. The MEW price increase appears to have instilled confidence among investors, resulting in a decrease in trading volume.
TurkishNY Radio reports that primary driver behind this MEW price is a recent announcement by WhiteBIT, one of Europe’s largest centralized crypto exchanges. On July 23, WhiteBIT disclosed through a post on X FKA Twitter that it had listed MEW. This listing has evidently played a significant role in MEW’s enhanced market performance.
Adding further excitement, WhiteBIT also introduced a bounty program a day before the listing. This program promises rewards for the top 250 participants from a prize pool of 6 million MEW tokens. This announcement has likely fueled the increased interest and subsequent MEW price increase.
MEW Price Increase Highlights Successful Launch and Market Adoption
MEW was first introduced on the Raydium exchange, where it benefited from a 10% airdrop to the Solana community on March 26. The launch generated substantial enthusiasm, driven by the Solana hype and MEW’s engaging “Cat in a Dogs World” theme. The MEW price increase was immediate, with trading volume reaching an impressive $150 million within just three hours of its launch.
The MEW price increase is part of a broader trend among cat-themed tokens, which have collectively reached a valuation of $2.7 billion following recent expansions. Another noteworthy coin, Popcat (POPCAT), also on the Solana blockchain, saw a 12% surge on July 24, trading at $0.8155 at the time of reporting.
This MEW price is particularly striking given the current downturn in the global crypto market, which now stands at $2.39 trillion. Even Bitcoin, the pioneering cryptocurrency, has experienced a decline of 1.13%, trading at $658,876 at the time of publication.
MEW Price Increase Boosts Investor Confidence
The MEW price has not only attracted attention but also instilled a renewed sense of optimism among investors. The coin’s association with Solana, a rapidly growing blockchain network, and its unique branding as a “Cat in a Dogs World” have contributed significantly to its appeal.
TurkishNY Radio reports that the recent listing on WhiteBIT and the accompanying bounty program have been pivotal in this MEW price increase. The promise of rewards and the credibility added by being listed on a major exchange have likely encouraged investors to hold onto their MEW tokens, anticipating further gains.
The MEW price can also be attributed to the broader trend of meme coins gaining popularity. These coins, often characterized by their playful and community-driven nature, have managed to capture the imagination of investors looking for the next big thing in the crypto world. The MEW price increase is a testament to the growing influence of meme coins in the market.
MEW Price Increase Reflects Broader Market Trends
The MEW price increase is not occurring in isolation. It reflects a broader trend of rising interest in themed cryptocurrencies, particularly those associated with strong community support and innovative marketing. The recent surge in cat-themed tokens’ valuations underscores this trend.
The success of MEW and similar coins like Popcat indicates a shift in investor sentiment towards more niche and community-focused projects. The MEW price increase exemplifies how strategic marketing, community engagement, and timely listings on reputable exchanges can drive substantial gains in the crypto market.
As TurkishNY Radio reports, the MEW price increase is a significant development in the cryptocurrency landscape. The meme coin’s recent performance, fueled by strategic exchange listings and investor optimism, underscores its potential in a competitive market. With its “Cat in a Dogs World” theme and robust community backing, MEW is poised for further growth. The story of the MEW price is still unfolding, and both investors and crypto enthusiasts will be eagerly watching to see what happens next.
