This Viral Cat-Themed Meme Coin Hits New ATH: Here’s Why

TL;DR

• MEW is one of the best performing cryptocurrencies on a 24-hour scale, reaching a new ATH a few hours ago.
• The rally came shortly after South Korea’s largest crypto exchange allowed trading services with meme coins.

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Cats in a Dog World (MEW) – Solana-based meme coin who saw the light of day earlier this year – took center stage today (October 21) by recording a 16% price increase and tapping on a new one the all-time high is around $0.01. 

Its market capitalization briefly jumped to nearly $1 billion before returning to its current $880 million. This means that, to date, MEW is the 95th largest cryptocurrency and the 10th largest in the meme coin niche.

Exponential spike has been filled with fuel by Upbit’s decision to allow trading services with these assets. Korea’s leading crypto exchange listed the MEW/KRW pair, making it the third meme coin to merge directly with the local official currency.

$mew is now the 3rd memecoin to get a KRW pair on Upbit, the world’s largest Korean exchange.

the only coin that has a KRW pair is

DOGE SHIB and MEW

CATS SEASON. HIGHER. https://t.co/bdITqL7anF

— mememillions☆ (@apatheticwhale) October 21, 2024

Upbit clarifies that deposits and withdrawals are only supported via the designated network (MEW-Solana). “Make sure to check the network before making a deposit,” he warns.

Despite adding MEW to its platform, the company warned that the meme coin has none own token utility. It also warns that investments in cryptocurrencies may experience rapid price fluctuations due to their speculative nature and changing regulatory environments.

“Investors are responsible for making investment decisions on these digital assets, And any losses that may occur. We ask you to carefully refer to the project website and public disclosure materials to be fully aware of the characteristics of the digital asset and trade with caution,” the Upbit team concluded.

Support From Others

The crypto exchanges mentioned above are not the only ones that have themhug MEW. Other notable examples include OKEx, KuCoin, BTSE, and Gate.io.

Recall that the price of the meme coin saw an even bigger increase in April this year when OKEx jumped on the bandwagon. As CryptoPotato reported at that time,MEW skyrocketed by 100% on a 24-hour scale, attracting the attention of several whales who went on a buying spree.