MEW, the Solana-based meme coin known as “cat in a dogs world,” has surged over 16% in the past 24 hours, making it the top gainer in the crypto market on July 24. As of the latest data, MEW is up 11% and trading at $0.0081. Its market cap has increased to $726 million, positioning it as the 94th largest cryptocurrency.
Additionally, MEW’s daily trading volume has decreased by 16%, stabilizing around $250 million. This drop suggests that investors are optimistic about MEW’s potential and prefer to hold their positions rather than sell.
The recent price surge follows a July 23 X post announcing that WhiteBIT, a major European crypto exchange from Ukraine, had listed MEW. The exchange also introduced a bounty program the day before, offering rewards from a prize pool of 6 million MEW tokens to the top 250 participants.
MEW was initially launched on the Raydium exchange and gained traction with a 10% airdrop to the Solana community on March 26. The launch generated significant excitement, fueled by the Solana hype and the coin’s “Cat in a Dogs World” theme, with trading volume reaching $150 million within just three hours.
Cat-themed tokens have collectively surged to a $2.7 billion valuation in recent weeks. Another Solana-based cat-themed meme coin, Popcat (POPCAT), also saw a 12% increase on July 24, trading at $0.8155.
MEW’s rise occurs amid a slight decline in the global crypto market, which stands at $2.39 trillion. Bitcoin, the leading cryptocurrency, was down 1.13%, trading at $658,876 at the time of publication.
