Cat In A Dogs World Logs Double-Digit Gains Defying Canine-Themed Dogecoin And Shiba Inu's Loss-Making Moves
Portfolio Pulse from Aniket Verma
Cat-themed cryptocurrency MEW defied the broader memecoin stagnation, gaining over 10% in 24 hours and increasing weekly gains to 34%. This contrasts with Dogecoin and Shiba Inu's losses. MEW's popularity surged due to social media engagement and listings on Revolut and Upbit.
September 24, 2024 | 4:45 am
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POSITIVE IMPACT
Solana's ecosystem benefits from MEW's rise as the fourth-largest memecoin on its platform, potentially attracting more attention and activity to Solana.
MEW's success as a top memecoin on Solana could enhance Solana's attractiveness as a platform for new cryptocurrencies, potentially boosting its ecosystem and price.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 30
NEGATIVE IMPACT
Dogecoin experienced a slight decline of 0.29% as cat-themed cryptocurrency MEW gained popularity and value, highlighting a shift in interest within the memecoin sector.
Dogecoin's slight decline is notable as MEW's rise indicates a shift in investor interest towards newer, cat-themed memecoins. This could lead to short-term pressure on Dogecoin's price.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
Shiba Inu fell by 2.18% as MEW, a cat-themed cryptocurrency, gained significant traction and value, suggesting a potential shift in memecoin popularity.
Shiba Inu's decline contrasts with MEW's rise, indicating a possible shift in investor focus towards newer memecoins, which could negatively impact Shiba Inu's short-term price.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 50