The resurgence of memecoins is evident as tokens like Popcat (POPCAT) and Cat in a Dog’s World (MEW) lead the way with a 20% surge. While dog-themed tokens like Dogecoin (DOGE) and Shiba Inu (SHIB) have dominated the memecoin sector in recent years, cat-theme tokens have gained popularity during this bull cycle. Recent partnerships and collaborations have propelled feline-inspired tokens like POPCAT and WEN to experience significant price increases overnight.
Although Bitcoin (BTC) has played a dominant role in the crypto market, memecoins have shown a strong correlation to BTC’s performance. When Bitcoin experiences a strong retrace, memecoins and other sectors tend to follow suit. However, even during recent rally slowdowns, tokens like Popcat have continued to perform well.
On Thursday, Bitcoin successfully tested the $59,000 resistance level and turned it into a support zone, leading to a surge in memecoins’ prices. The memecoin market saw a 9.46% increase, while cat-themed tokens experienced a 22.09% surge with a market capitalization of $1.581 billion.
Cat-themed memecoins have taken the lead against their canine-inspired counterparts. Popcat, in particular, has consistently shown double-digit gains and has joined the top 10 memecoins list. With a loyal community and a 31% price increase in the daily timeframe, Popcat has emerged as the largest gainer among the top ten memecoins. Memecoin analyst Murad predicts Popcat will surge to $5-10 in the short-term.
MEW, another popular cat-themed memecoin, has faced a recent drop in performance. However, it remains a hot topic among altcoins, with a remarkable 12% price recovery in the last 24 hours. Despite its struggles, MEW was crowned the most searched altcoin on crypto exchange Bidget, surpassing other tokens like PEPE and SOL.
Overall, the memecoin sector is experiencing a resurgence, with cat-themed tokens gaining traction and demonstrating significant price surges. As the crypto market enters a new phase of the cycle, it will be interesting to see how memecoins continue to perform and whether other themes and trends emerge.