Cat-Themed Meme Coins Surge Amidst Market Correction
Cat-themed cryptocurrencies are garnering attention, with several experiencing a bullish breakout within the past 24 hours. This surge in meme coin interest contrasts with a decline in larger assets due to fears of a market correction.
Leading meme coins like Dogecoin (DOGE), Shiba Inu (SHIB), and Dogwifhat (WIF) have witnessed a downturn following weak intraday trading. Meme coins as a whole have dropped by 3.9% to $65.4 billion, with trading volumes exceeding $6.5 billion.
In contrast, cat-themed meme coins are collectively trading above $2.46 billion, with several assets surging today. DOGE and SHIB have declined by 3.1% and 3.2%, respectively, as sentiment remains bearish. Despite maintaining weekly gains, SHIB has seen a price drop of 4.4% over the past week.
Dogwifhat has also contributed to the reduced growth of dog-themed tokens, experiencing daily exits of 7.1% to trade at $3.26. Despite these market conditions, some tokens are outperforming the market. Here are three cat-themed tokens to monitor closely:
CatSolHat (SOLCAT)
SOLCAT has surged by 160.8% today, trading at $0.014. Weekly gains have also spiked by 165%, marking the highest gains among cat-themed meme coins. This influx of capital surpasses that of larger coins, boosting SOLCAT's market capitalization to $1.02 million.
Poncho (PONCHO)
Poncho has rallied on the back of inflows into cat-themed meme coins, rising by 56.4% in the last 24 hours. PONCHO has gained 29% this month, but weekly trading has been in the red. Despite the broader bullish momentum, the coin has experienced over 10% outflows this week.
Poncho's market cap stands around $1.9 million, with daily trading volumes at $95,560 according to CoinGecko.
Nyxia AI (NYXC)
Nyxia AI's inflows may be attributed to growth in both cat-themed meme coins and Artificial Intelligence tokens. The asset has risen by 50% today and 5% this week, recovering from previous lows. With a market capitalization exceeding $1 million, trading volume has increased to $370,000.