Bittime - The crypto world is getting more exciting with the presence of the classic competition between cats and dogs, this time sparked by the MEW (Cat in a Dog's World) memecoin token built on the Solana blockchain .
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MEW Rajai Daftar Altcoin Teratas
A Cat in a Dog's World (MEW) managed to grab the top spot on the list of altcoins with the most gains on Monday. MEW soared 88% and entered the ranks of the TOP 200 cryptocurrencies based on global market capitalization.
This high follows a phenomenal first week for MEW, where its price skyrocketed 439% and reached an all-time high of $0.009716 on March 31.
Corrections and Rises Again
After experiencing a correction of more than 50% from its peak, MEW is back in the limelight in the volatile crypto market. The cat-themed token surged 88% in the last 24 hours, trading at $0.005497 at the time of writing.
The price increase coincided with the announcement of MEW's listing on OKEx's centralized Spot exchange platform, pushing Cat's in a Dog's World's market capitalization close to $500 million.
Prepare "Whale" Terseret Arus
Interestingly, the listing on OKEx comes after a series of activity by large investors (“whales”) in the Solana ecosystem, identified by LookOnChain.
Two significant transactions were spotted on the Solana blockchain involving MEW and Slerf (SLERF).
Solana's "Whale" Spotted Opportunity
One of the “whales” on the Solana network appears to be anticipating a price spike.
They withdrew 10,438 SOL from Binance and used it to buy a large amount of MEW at $0.0032.
This smart move could result in a 55% profit if the whales sell their MEW holdings at the daily high of $0.0058.
"Whale" Activity Dissected
Further on-chain analysis by DailyCoin revealed that the “whale” transferred 300,000,000 MEW to another wallet and currently owns 180,619,547.53 MEW, with an estimated value of $646.5K based on SolScan.io data.
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Be careful
Memecoin trading is inherently more volatile than established altcoins with larger market caps.
The fear of missing out (FOMO) has caused significant losses for some Solana “whales” in the past.
MEW Long-Term Outlook
Although Cat in a Dog's World has a maximum supply cap of 88,888,888,888 tokens, today's impressive gains have not completely erased the 5.7% decline seen over the previous two weeks amid a broader market correction.
Memecoin Impact
The memecoin craze, exemplified by the recent spike in MEW, is playing a role in increasing awareness about blockchain technology.
March saw the hottest trading month ever, with transaction volume exceeding $80 billion at the peak of the bull run.
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How to Buy Crypto from Bittime
You can buy and sell crypto assets in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
To be able to buy crypto assets on 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 Complete Guide How to Buy Crypto on Bittime .
Monitor price chart movements of Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
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DISCLAIMER: This article is informational in nature and is not an offer or invitation 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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