Cat in a Dogs World (MEW) Jumps to a Record High, Anticipating a New Cat Season

Cat in a Dogs World, a popular Solana meme coin, jumped to a record high on Thursday as most cat-themed tokens soared.

Cat in a Dogs World, a Solana meme coin, hit a record high on Thursday, with most cat-themed tokens surging.

MEW formed a God candle, reaching a high of $0.01140, up 325% from its lowest point in June. Its market cap hit $986 million, with further gains set to propel its valuation to over $1 billion, joining other Solana meme coins like Dogwifhat, Bonk, and Popcat, with the tokens accumulating a valuation of almost $12 billion.

Cat in a dogs world also flipped other popular Solana tokens like Book of Meme, Michi, Fwog, and Myro.

There was no particular news that pushed MEW’s price to a record high, although traders are anticipating a new cat season following the recent Popcat surge that we reported on earlier.

Interest in cat-themed coins continues to rise, with a 10% increase in total market capitalisation and a 66% surge in trading volumes in the last 24 hours.

Other cat-themed tokens also surged recently, with the most notable being Simon’s Cat (CAT), which soared by 52.4% in the past seven days. Other cat tokens like Purr, Keyboard Cat, and Giko Cat also rallied, bringing the total market cap of all such coins to over $4.7 billion.

Cat in a dogs world’s rally saw its holders increase to over 178k, while its futures open interest hit a record high of $208 million.

MEW price analysis

MEW chart by TradingView

In our last MEW coverage, we predicted that the token would stage a strong comeback, highlighting the cup and handle pattern that was forming on its chart. This prediction proved accurate, with the token surging on Thursday.

MEW has now moved above all moving averages, while the Relative Strength Index (RSI) hit the overbought point and the MACD indicator continued rising, indicating increasing momentum.

BanklessTimes predicts that the MEW token will now drop and retest the upper side of the cup before continuing the uptrend in what is known as a break and retest pattern, which usually signifies continuation.