Topics Memes

cat in a dogs world (MEW): Pouncing on the Cat Meme Coin Craze

Beginner
Memes
Altcoins
Explainers
2024年4月30日

The world of meme coins is wild and filled with all types of animals, such as dogs, cats, penguins and frogs. In 2024, the meme coin craze is back in full swing, evidenced by the astronomical gains made by top crypto meme coins like PEPE, BOME, SHIB and BONK.

During this meme coin season, Solana-based meme coins have stolen the show with dog-themed tokens dominating the space. However, a recent cat-themed meme coin is seeking to challenge this dog-themed coin narrative.

cat in a dogs world (MEW) stormed into the meme coin space on Mar 27, 2024, and has been causing a stir with its remarkable price surge. Upon listing, MEW’s price soared by 385% to reach an ATH of $0.0097 within four days.

Let’s explore the MEW coin and find out why it’s one to watch in the thriving Solana meme coin ecosystem.

Key Takeaways:

  • Barely one month in the market, cat in a dogs world (MEW) has attracted the attention of meme coin lovers and the larger crypto space with its astronomical gains.

  • Launched on Mar 27, 2024, MEW rallied by 385% within four days and reached an all-time high price of $0.0097 with an approximate market cap of $867 million.

  • The MEW cat coin can be traded on Bybit as a Spot pair (MEW/USDT) and USDT Perpetual (MEWUSDT) contract.

2401-T16454_Skinny_Banner_for_Blog_and_Learn_Row_53_728x90.png

What Is ‘cat in a dogs world’ (MEW)?

cat in a dogs world is a no-utility, cat-themed meme coin built on Solana (SOL). It was launched on Mar 27, 2024, to provide a cat-themed token that would be a worthy competitor to the dog-themed meme coins dominating the space.

Barely 96 hours into the market, MEW had pumped by 385% to hit a price of $0.0097, during which its market capitalization reached around $848 million, a figure reserved for more established projects in the market such as blue chip cryptos

MEW’s market cap has since shrunk to a more conservative figure of $357 million, with a 24-hour trading volume of $59 million on Apr 30, 2024. It’s currently trading around $0.004.

cat in a dogs world (MEW) Tokenomics

cat in a dogs world has a total/max supply of 88,888,888,888 tokens, of which 90% were burned as liquidity provider (LP) tokens, while the remaining 10% were allocated as an airdrop to the Solana community.

MEW’s formidable success could be attributed to its tokenomics strategy, as burning most of the LP tokens creates a stable price floor and cushions the token against market volatility. The airdrop is also an excellent way to attract attention to the project and create brand awareness, further solidifying MEW's presence on Solana and in the cryptocurrency market as a whole.

Deliberately airdropping and burning the LP tokens enhances the value of the MEW token, while giving it a competitive advantage in the cutthroat world of meme coins.

MEW vs. Other Cat Meme Coins

Cat meme coins have been generating a lot of hype lately. Let's look at a brief comparison between MEW and two other cat-themed coins in the meme coin space.

MEW vs. Catcoin (CATS)

Both MEW and Catcoin (CATS) have caused a stir in the meme coin space. Not only are they both trying to change the dog-eat-dog landscape, but they’ve also approached the market in an innovative way.

That said, unlike MEW, CATS has various utilities in its ecosystem, such as staking and voting through the platform’s DO. Catcoin’s ecosystem is also filled with a variety of products, such as the Caring Cats charity and a non-fungible token (NFT) collection. While the two tokens entered the meme coin space at different times, they’ve both managed to draw attention to feline-themed meme coins.

MEW vs. Omnicat (OMNI)

Another cat-themed coin, Omnicat (OMNI), caused a stir when its price quickly soared after the coin’s debut in December 2023. However, unlike MEW, which is only available within the Solana ecosystem, Omnicat leverages omnichain technology and is available on seven blockchains, including Ethereum (ETH), Polygon (POL), BNB Chain (BNB) and Arbitrum (ARB).

While it may be a meme coin, Omnicat leverages LayerZero’s blockchain in order to advance its mission of interoperability in the crypto space. Both MEW and Omnicat have adopted innovative approaches that seem to have paid off despite their meme coin narratives.

How to Buy MEW Cat Coin

You can buy MEW Cat Coin on Bybit as a Spot pair (MEW/USDT) or a USDT perpetual contract (MEWUSDT). To celebrate this Spot listing, Bybit is holding two Token Splash events, running from Apr 19 to May 7, 2024, with 40 million MEW tokens up for grabs.

The first event, Deposit to Earn, is exclusively for new users, with a prize pool of 25 million MEW. By completing Identity Verification and accumulating a deposit volume of 25,000 MEW (worth 100 USDT), or depositing 100 USDT and trading 100 USDT worth of MEW tokens via your first trade with Bybit, you’ll have a chance to receive 5,000 MEW. Rewards are available on a first-come, first-served basis to the first 5,000 new users.

The second event, Trade to Earn, has 15 million MEW tokens up for grabs. Simply trade at least 1,000 USDT worth of MEW tokens on Bybit’s Spot market to earn a share of the prize pool. Rewards will be capped at 200,000 MEW (around 800 USDT) per user.

Skinny_Banner-1600x400.webp

Closing Thoughts

While it’s primarily been a dog-eat-dog world in the meme coin space, tokens such as MEW are effectively diluting this narrative. Being one of the top-ranking Solana meme coins, the MEW cat-themed coin has followed others in the ecosystem by skyrocketing in price within a short time of entering the market, flooding Solana with much-needed liquidity.

Despite its slowed momentum — generally attributed to the currently fluctuating price of Bitcoin (BTC) — MEW remains a Solana cat-themed meme coin to watch when the market starts rallying again.

#LearnWithBybit