Cat in a dogs world, the cat-themed Solana meme coin, soared to a new all-time high on November 14, surpassing its previous ATH of $0.01165.
Historic MEW Rise
MEW joined the race of record-breaking gains among meme coins, hitting a new all-time high of $0.01238 on November 14. The coin has been on the rise since the beginning of November, climbing 43.8% over the past month. In the last 24 hours, it has risen by 28.8% and is currently trading at $0.01199, slightly below its highest value.
Market Dynamics
The MEW token showed a trading volume of over $782 million in the last 24 hours, representing a 182.50% increase compared to the previous day, indicating a surge in market activity. With a market cap of more than $1 billion, MEW ranks 98th in the overall cryptocurrency rankings and 11th among memecoins. In the meme coin segment, it sits just below NEIRO and a few steps behind other cat-themed coins, like Popcat in 8th place.
Memecoin Competition
The meme coin with the little cartoon cat icon has a fully diluted valuation of more than $1.06 billion and a circulating supply of over 88 billion MEW coins. It was launched in March 2024 to challenge the dominance of dog-themed meme coins like NEIRO, DOGE, and SHIB in the crypto trading market. MEW quickly rose in the leader board after reaching a market cap of over $317 million alongside other cat-themed coins such as POPCAT, MICHI, HAPPY, and CAT.
MEW has once again demonstrated that cat-themed memecoins can successfully compete with established market leaders on the blockchain. Its modest beginnings and rapid growth make this token a focal point in the cryptocurrency sphere.
