Cat Coin Surges: 'Cat in a Dogs World' Skyrockets 31%, Topples 'Popcat'

Cat In A Dog World (MEW) has experienced a significant surge in value, climbing 31% in the past day to reach $0.006526. This places MEW as the second-highest gainer among meme coins, trailing only BONK. As MEW continues to trend alongside other tokens such as POPCAT, SPECTRE, and HBAR, it faces resistance at $0.007019. The altcoin's bullish momentum could potentially push it beyond this barrier to targets of $0.008728 or even $0.009810, according to technical analysis indicators. However, a reversal is possible, with a drop below $0.004417 invalidating the bullish trend.

Cat in a Dogs World Skyrockets 31%, Surpassing Popcat as Top Cat-Themed Meme Token

The crypto market has witnessed a surge in the value of the Cat in a Dogs World (MEW) token, which has soared by an impressive 31% in the past 24 hours, reaching a trading price of $0.006526 as of 07:01 a.m. EST. This remarkable gain places MEW second only to BONK among the top-gaining meme coins and establishes it as the market leader among cat-themed meme tokens by market capitalization.

Market Overview

MEW's dominance in the cat-themed meme coin segment is evident in the market capitalization rankings, as it outpaces Popcat, Mog Coin, Wen, Nubcat, Shark Cat, Michi, and Ansem's among others. The market capitalization of MEW stands at $570 million, significantly higher than its closest competitor, Popcat, which has a market capitalization of $460 million.

Trending Alongside Industry Leaders

The MEW token's impressive rally is not an isolated event but is part of a broader trend in the cryptocurrency market. Alongside MEW, other notable gainers include POPCAT, SPECTRE, CTX, BNX, and HBAR. HBAR, in particular, has been at the center of a recent controversy within the Hedera ecosystem, which saw its price surge by 96% before experiencing a 25% correction.

Technical Analysis and Outlook

The Cat in a Dogs World price is currently facing resistance at the peak of its market range of $0.007019. If the bulls can overcome this resistance level, the altcoin's price could potentially climb to $0.008728 or even $0.009810, marking a new all-time high. Bullish indicators such as the Relative Strength Index (RSI) and Awesome Oscillator (AO) suggest a growing bullish sentiment and momentum in the MEW market. The volume profile also shows significant trading activity at the current price level.

Potential Retracement and Buying Opportunity

However, a correction from the $0.007019 resistance level could lead to a potential meme reversal, with the Cats in a Dogs World price likely to retest the midline at $0.004417. This correction could provide a favorable buying opportunity before the MEW price makes another attempt to rally northward. A break and close below the $0.004417 level on the 12-hour timeframe would invalidate the bullish thesis and indicate a potential downward trend.

Alternative Investment: Smog

Amidst the meme coin mania, another notable project that has gained significant attention is Smog, a Solana-based meme coin. Smog has made headlines for its massive airdrop campaign, promising to distribute 35% of its total token supply (1.4 billion tokens) to community members. This incentive has attracted a large following and contributed to its popularity.

Smog Airdrop Campaign

Smog's airdrop campaign consists of two seasons. In the first season, token holders who participated in daily quests and community tasks on Zealy were rewarded with $SMOG tokens. The campaign rewarded over 11 million successfully completed quests, with nearly 50,000 participants and approximately $1 million in rewards.

Season 2 and Future Plans

Season 2 of the Smog airdrop is currently underway, continuing to reward token holders for their on-chain activity and participation in community quests. Smog is also planning to expand its reach by listing on centralized exchanges and implementing new airdrop strategies to attract new investors.

Conclusion

The crypto market continues to embrace meme coins, with Cat in a Dogs World and Smog standing out as notable gainers. MEW's dominance in the cat-themed meme coin segment and its bullish technical indicators suggest further potential for growth. Smog's innovative airdrop campaign and expanding plans position it as an alternative investment opportunity worth considering.