The Solana memecoin, Catwifhat (CIF), faced two rug pulls but managed to survive, showcasing the decentralized nature of crypto projects. NFT_Sloth, a Catwifhat investor, shared that the project endured two rug pulls within 12 days but still maintains an active community.

Initially, the project's founder dumped tokens into the market shortly after launch in December 2023, cashing in a significant portion of WIF's supply for SOL. Despite this setback, remaining investors took charge of the project, forming a new team to promote the token, leading CIF to regain a market cap exceeding $4 million by December 23, overcoming the first rug pull.

However, another rug pull occurred on December 24 when the token's largest liquidity provider removed a substantial amount of liquidity, causing a significant price drop. Despite these challenges, the development team restructured once again and continued working on the project, with a current market cap of approximately $1.4 million as of April 3.

Catwifhat was created following the success of Dogwifhat (WIF), a Solana memecoin inspired by the popular Dogwifhat meme originating in November 2019 on the X platform. Due to the meme's popularity, a crypto developer team created Dogwifhat as a token. Catwifhat aimed to carry on this momentum but faced challenges as its developer executed an exit scam shortly after launch.

Community initiatives, such as a new website and active promotion efforts, helped Catwifhat navigate through the rough patches created by the rug pulls. While the project faced setbacks, the team continues to work towards gaining mainstream adoption and exploring utility beyond meme status.

The journey of Catwifhat highlights the resilience of its community amidst adversities like rug pulls, offering a glimpse of hope for investors affected by similar events in the crypto space.