Memecoins
Catwifhat Leads Top 50 Meme Coin Losses. Are Traders Rotating Into This Soon-To-End Pre-Sell?
Catwifhat led meme coin losses on Wednesday amid heavy CWIF selling on high-volume cryptocurrency exchanges for CWIF/USDT on Poloniex, LBank, Coinstore and Bitrue, according to data from CoinMarketCap.
Meanwhile, Kai Cat ($KAI) on Ethereum has surpassed the half million dollar mark in its pre-market token sale. During the pre-sale, coins are available at the same low, fixed, fair price to any buyer (although the price increases every few days to incentivize timely decision making).
As for Catwifhat, Solana’s popular deflationary cat meme currency with a market cap of $27 million has slipped further down the altcoin cryptocurrency price charts than any other Top 50 meme coin by market cap after the Wednesday losses of 49% in the 7-day window.
No, not T-Swift: CWIF.
Who sells CatWifHat ($CWIF)?
Catwifhat is a deflationary meme coin that rocked the Solana meme market earlier this year after the project completed an aggressive campaign to launch the Cat in the Hat on 1,300,000 wallets. It is based on the successful meme coin Dogwifhat (WIF) and uses the burning fee with Solana Token Extensions to automatically burn 4% of coins on every on-chain transaction.
CWIF has been so successful, with big gains rising in February and again in May, that it has lost more than any other meme coin in the last week, to correct and consolidate.
In fact, CWIF fell out of the Top 50 meme coins to 51st place after the markets moved, and a $26 million Ethereum Pepe coin called Hoppy (not to be confused with SPL Hoppy on Solana) rallied by 150%.
Maybe that’s what the big cats were buying this week with their Catwifhat profits, but as any past Dogecoin investor can attest, birds of a feather flock together, and animal spirits are as true drivers of market movement in the cryptocurrency memedom as they are on Wall Street.
Are Meme Coin Dealers Buying Kai Cat Pre-Sale?
There probably aren’t many Catwifhat sellers buying other Top 50 meme coins this week.
All those coins are selling off like crazy this week too, but not with the level of urgency that Catwifhat’s bagmen have been dumping CWIF with. But it doesn’t look like there’s much buying going on.
The leading meme coin DOGE is down 17.7% over 7 days. During the same period, Ethereum Shiba Inu (SHIB) fell by 21%. Meanwhile, King Pepe coin PEPE on Ethereum (orange lips, those Pepes with green lips are not the same prince) fell 18%, and FLOKI and BONK were both down 31% on Wednesday for weekly trading.
The same goes for feline bulls buying Ethereum Kai Cat Coin tokens this week?
It would make sense. It would also make sense that some of the doge meme profiteers have moved their money to build a green house or two on Kai Cat Avenue.
Kai Cat is a meme coin with third-party controlled capital liquidity, secured by Ethereum, which supports the world’s leading DeFi blockchain. It offers investors staking, meme marketing, and community engagement rewards. $KAI selling for ETH and USDT exploded in June as it nears its launch date to be listed for trading on Uniswap.
Visit the Kai Cat Coin pre-sale page for more information.
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