MEW surges 16%, becomes top gainer in crypto market today

MEW, the Solana-based meme coin referred to as “cat in a dogs world,” has seen a significant surge of more than 16% in the past 24 hours, making it the top gainer among cryptocurrencies in today’s market. As of now, MEW is still up 11%, trading at $0.0081 and has a market cap of $726 million, placing it as the 94th largest cryptocurrency. Despite a 16% drop in daily trading volume, which is currently around $250 million, investors in MEW remain optimistic about its potential growth and are choosing to hold onto their positions rather than sell. This recent increase in price comes after MEW was listed on WhiteBIT, one of the largest centralized exchanges in Europe, and also following the announcement of a bounty program by the exchange. MEW was initially launched on Raydium and received a 10% airdrop to the Solana community, leading to immediate enthusiasm and a trading volume of $150 million within just three hours. The surge in MEW’s price also coincides with a slight decrease in the overall global crypto market, which is currently valued at $2.39 trillion, and Bitcoin experiencing a 1.13% drop in value.