Token

Solana

Bitcoin

April

Bitcoin and other leading cryptocurrencies may be showing bearish trends, but Solana meme coin Catwifhat (CWIF) is bucking that pattern.
Catwifhat, a feline-themed counterpart&nbsp;to Soalna memecoin Dogwifhat, is back on an upward trajectory. The coin has surged by 42% today, reaching $0.00000082 following a 60% jump in trading volume. Data from CoinMarketCap reveals that Catwifhat has regained a market capitalization of $30 million.
The meteoric ascent of <a href="https://crypto.news/tag/dogwifhat/" rel="noopener noreferrer nofollow">Dogwifhat </a>is still fresh in the minds of investors who are cautious about not fading its feline counterpart. At its peak, Dogwifhat became the top Solana meme coin, reaching a valuation of $4.8 billion.
Furthermore, Dogwifhat established a strong correlation with Solana, which has been <a href="https://crypto.news/why-solana-rose-5-today-despite-a-market-downturn/" rel="noopener noreferrer nofollow">one of the leading cryptocurrencies</a> in the current bull market. Now, Catwifhat appears to be following suit. It has seen a 400% surge in the past week while maintaining a market cap of just $30 million.
Despite its current market cap of Catwifhat being a fraction of Dogwifhat’s peak, the coin continues to receive significant catalysts that bolster its value.
You might also like: <a href="https://crypto.news/eth-liquidations-surpass-bitcoins-following-fall-below-3200/" rel="noopener noreferrer nofollow"> ETH liquidations surpass Bitcoin’s following fall below $3,200 </a>
On April 25, Catwifhat perpetual futures <a href="https://twitter.com/BitMartExchange/status/1777493534444044383" target="_blank" rel="noopener noreferrer nofollow">launched </a>on BitMart, providing a new trading avenue for investors.&nbsp;Additionally,&nbsp;its market cap and circulating supply are now verified by&nbsp;SolanaFM, CoinMarketCap, Solscan, and CoinGecko.&nbsp;It is also trending on platforms such as DEXTools and Bireye.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 Less than a month ago, majority thought <a href="https://twitter.com/search?q=%24CWIF&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$CWIF</a>'s market cap was ~$250 million because no sources showed Token Extension burns The game has changed, and <a href="https://twitter.com/solanafm?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@solanafm</a>, <a href="https://twitter.com/solscanofficial?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@solscanofficial</a>, <a href="https://twitter.com/CoinMarketCap?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@CoinMarketCap</a>, and <a href="https://twitter.com/coingecko?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@coingecko</a> now show <a href="https://twitter.com/search?q=%24CWIF&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$CWIF</a>'s verified Market Cap and Circulating Supply 🎉🍾🥳 <a href="https://t.co/ILo3e5e5rt" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/ILo3e5e5rt</a>— catwifhat $CWIF (@catwifhatsolana) <a href="https://twitter.com/catwifhatsolana/status/1788020399336296611?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">May 8, 2024</a>
 </blockquote>
 <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
Catwifhat’s X account, along with&nbsp;its supporters, is&nbsp;now <a href="https://twitter.com/catwifhatsolana/status/1787802054775427536" target="_blank" rel="noopener noreferrer nofollow">advocating </a>for <a href="https://crypto.news/tag/kucoin/" rel="noopener noreferrer nofollow">KuCoin </a>to list the meme coin on its exchange.
The latest surge in the Solana-based meme coin comes as Franklin Templeton, a prominent asset management firm, acknowledged <a href="https://crypto.news/franklin-templeton-foresees-solana-as-third-largest-cryptocurrency/" rel="noopener noreferrer nofollow">Solana’s growing potential</a> to solidify its position as the third-largest cryptocurrency in the market.
The firm’s recognition of Solana is aligned with its appeal for scalability and low transaction fees. Such characteristics have made Solana a fertile ground for meme tokens like Catwifhat and other notable tokens, such as BONK and WIF, which have remained among the top 100 cryptocurrencies by market valuation.
Read more: <a href="https://crypto.news/meme-coin-mania-sees-over-138-tokens-launched-in-april/" rel="noopener noreferrer nofollow"> Meme coin mania sees over 138 tokens launched in April </a>

Solana memecoin Catwifhat defies market trend with 40% surge

crypto.news

Other articles published on May 8, 2024

BlockDAG (BDAG) Forecasted to Reach $50 by 2025: Stacks (STX) and THORChain (RUNE) Weather Crypto...

Gundam Breaker 4 Release Date Announced

Exceptional Performance of Nifty FMCG (NIFTYFMCG) on D-Street Amid Market Selloff: HUL, Marico Le...

Binance Helps Arrest Fraud Suspect

Bitcoin Whale Snaps up $411 Million in BTC Amid Market Uncertainty

Revolut Launches UK Crypto Exchange Featuring Bitcoin (BTC) and Ethereum (ETH) Amidst Digital Ass...

Join our free newsletter for daily crypto updates!