MEW, the Solana-based coin known as the “cat in the dog world,” has seen a significant surge of over 16% in the past 24 hours, making it the biggest gainer among cryptocurrencies on July 24.
At the time of writing, the cat-themed coin MEW is still up 11%, trading at $0.0081 per price data on crypto.news. The crypto asset’s market cap has risen to $726 million, making it the 94th largest cryptocurrency by volume.
Moreover, the daily trading volume of the meme coin decreased by 16%, hovering around $250 million, indicating that MEW investors are optimistic about its potential rise and prefer to hold their positions rather than sell.
The recent surge in MEW prices comes after a July 23 X post in which WhiteBIT, one of the largest European centralized cryptocurrency exchanges from Ukraine, announced that open It has incorporated meme coin.
Just a day ago, the exchange was also made. Advertise A rewards program that will reward the top 250 participants from a prize pool of 6 million MEW tokens.
MEW was initially launched on the Raydium exchange, benefiting from a 10% distribution to the Solana community on March 26. The launch was met with immediate enthusiasm, fueled by the Solana hype and the coin’s catchy “Cat in a Dogs World” theme. Within just three hours of its launch, MEW’s trading volume had soared to $150 million.
Cat tokens as a whole are now worth $2.7 billion after expanding in the past few weeks. Popcat (POPCAT), another cat-themed coin on Solana, saw a 12% surge on July 24, trading at $0.8155 at press time.
MEW’s surge comes at a time when the global cryptocurrency market is down slightly, standing at $2.39 trillion. Bitcoin, the leading crypto asset, is down 1.13%, trading at $658,876 at press time.