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Meme coins are still casting a spell on investors, and ‘Cat in a Dogs World’ (MEW crypto) has just delivered a stellar performance, shaking up the Solana ecosystem.
On October 21st, the Korean exchange Upbit listed MEW, sending ripples through the market. The coin’s value climbed to $0.009021 as it began trading against the South Korean won.
“Only deposits through the Cat in a Dogs World-Solana network will be supported. Please refrain from using other networks to avoid potential losses.” -Upbit’s Announcement
MEW’s price skyrocketed 20%, briefly touching $0.0103 before stabilizing at $0.0095. This rapid climb and correction revealed strong market enthusiasm.
Mew Crypto Trading Pattern
MEW’s debut sent shockwaves through Solana’s decentralized exchanges, trading volumes on platforms like Raydium and Orca outpacing Ethereum’s. Solana saw a 41% spike in DEX activity, moving $12.61 billion, far ahead of Ethereum’s $8.7 billion. This surge underscores Solana’s rising clout in DeFi, fueled by the meme coin frenzy.
$MEW – the most liquid Solana meme-coin will soon follow the parabolic structure
Spot is already fully loaded + bids above 0.008 if we get an OI flush across the market.
0.02 targets 😼 pic.twitter.com/qbQbzJbrjx
— Dead Cat Bounce (@DCBcrypto) October 21, 2024
MEW’s price chart draws a classic cup and handle, a sign of bullish vibes ahead. Sitting above its 50-day moving average, the token is riding a wave of upward momentum. Investors could be looking at further gains if it breaks past the $0.01047 peak.
MEW’s rise, alongside other SOL-based meme coins like Popcat, highlights that we’re onto meme coin wave #3 (or #4, who knows?) Solana’s magnetism for trading activity underscores its growing role as a go-to blockchain for groundbreaking projects.
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