Bittime - This time, it is not Dogecoin (DOGE) or Shiba Inu (SHIB) that is in the spotlight, but MEW, a meme coin built on the Solana ecosystem.MEW managed to shoot up 50% after the announcement of its listing on a leading crypto exchange. This significant increase in MEW prices is a particular highlight amidst the weakening price trend that has dominated the crypto market recently.
MEW Coin: Hope Amid Crypto Weakness, Driven by Listing News
At a time when the prices of the majority of crypto assets are experiencing correction, MEW actually appears different. The Solana meme coin managed to attract the attention of global investors and its price shot up almost 50% according to CoinGape. This interesting phenomenon occurred after the announcement of the listing on the crypto exchange on April 3, 2024.
When many thought the era of meme coins was over, following the decline in DOGE and SHIB prices, the presence of Solana meme coins, especially MEW, managed to steal attention. Let's take a deeper look at the factors that make MEW able to buck the general downward price trend.
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Bitget Will List MEW Token with $22,000 Prize, Investors Are Getting Crazy
One of the factors driving MEW's price increase is the plan to list on Bitget, the world's leading crypto trading platform. Bitget's decision to list MEW shows their support for this project, which certainly adds to investor optimism after this token experienced a price increase of almost 50%.
According to Bitget's official statement , the crypto exchange will list the Cat in a Dogs World (MEW) token and start trading on April 3, 2024 at 11:00 UTC. Meanwhile, MEW deposits will open on April 4, 2024 at 00:00 UTC.
Interestingly, Bitget will provide the MEW/USDT trading pair and offer an attractive prize of $22,000 in the form of MEW tokens. To enliven the MEW listing, Bitget is holding a special promotional program which will run from April 3 to April 10 2024. Through this program, Bitget users can get MEW prizes by:
- Make a deposit and get a rebate
- Trade MEW with a minimum volume of 100 USDT during the promotional period
- Take part in promotional activities for a $22,000 MEW prize
Meanwhile, the surge in MEW prices was also triggered by the impressive performance of the Cat in a Dogs World project.
MEW Rise in Line with Solana's Positive Trend, Supported by Listing on Bitget
As of the writing of this article, the Cat in a Dogs World (MEW) token has experienced a price increase of 44.74% in the last 24 hours, with the current trading price at $0.008854. MEW's market capitalization also increased by 43.79% and 24-hour trading volume jumped 57.37%.
This significant increase in price and trading volume further strengthens MEW's bullish trend, in line with the overall positive trend of Solana (SOL) .
As we know, listing on Bitget often has a positive impact on crypto prices. Earlier this year, the MAVIA token experienced a significant price increase after listing on Bitget.
Something similar seems to be happening at MEW at the moment. With the plan to list on Bitget, speculation regarding MEW price increases in the future is getting stronger.
Source: Geckoterminal.com
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Analysis: MEW Future and Investment Potential
The significant increase in MEW prices certainly attracts the attention of investors. However, it is worth noting that this price spike was triggered by momentary positive sentiment regarding the listing on Bitget and the overall performance of the Solana ecosystem.
As a meme coin, MEW has limited utility compared to other crypto assets. Therefore, investors need to carry out deeper fundamental analysis before deciding to invest in MEW.
Some factors investors need to consider include:
- Roadmap and development plan for the Cat in a Dogs World project
- Long-term usefulness (utility) of MEW tokens
- Overall crypto market conditions
Apart from that, investors also need to pay attention to MEW price volatility which tends to be high, like meme coins in general. Investment in MEW is suitable for investors with an aggressive risk profile and a high tolerance for price fluctuations.
Conclusion
The significant increase in MEW prices has become a distinctive color amidst the current weakening crypto trend. Listing on Bitget and Solana's positive performance are the main driving factors for MEW's price increase.
However, investors need to be careful and carry out fundamental analysis before deciding to invest in MEW. MEW's high price volatility is worth considering, considering its nature as a meme coin. Investment in MEW is only suitable for investors with an aggressive risk profile and a high tolerance for price fluctuations.
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Tether (USDT) is available on Bittime with the USDT/IDR market pair . To be able to buy USDT/IDR at Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn the complete guide on how to buy Tether (USDT) on Bittime.
Monitor price chart movements of Tether (USDT) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Also Read:
Lucky Boo (BOO): Solana Memecoin Launched Following BONK and PEPE
Shiba Inu (SHIB) Burning Record: More Than 15 Billion Coins Burned Last March!
DISCLAIMER: This article is informational in nature and is not an offer or solicitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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