Memecoins
Expert Says This Solana Cat Memecoin Will Destroy Shiba Inu And Dogecoin
The host of the popular crypto channel Altcoin Daily said that the Solana MEW meme coin will “destroy” all dog-themed meme tokens such as Shiba Inu and Dogecoin (DOGE).
Altcoin Daily expressed this view in a analyses explore how feline-themed meme currency could challenge established memes and potentially usurp their dominance.
A key factor in this argument is MEW’s advantage of being part of the the thriving Solana ecosystem and its unique appeal as a feline-themed token in a crowded market of dog-related meme cryptocurrencies.
Additionally, the commentator drew on MEW’s recent partnership with IP giant LOCUS Animation Studios.
The case of MEW challenging Shiba Inu and Dogecoin
Altcoin Daily explained that MEW, nicknamed “the cat in the dog world”, captivates through its character, secondary characters and plot.
He argued that dogs have dominated the meme coin space for too long. But now, with the support of the Solana blockchain, MEW is emerging as a significant player. He believes the narrative behind MEW will transcend the crypto space itself.
He pointed out that MEW has a total supply of 88,888,888,888 tokens. Of this figure, 90% was burned and 10% was airdropped into the Solana community.
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In particular, this figure contrasts with what can be obtained with Shiba Inu and Dogecoin. Specifically, DOGE has a circulating supply of 144,636,806,384 tokens with no maximum limit. Meanwhile, SHIB averages maximum supply 1 quadrillion tokens, with over 410 trillion tokens staked and 589 trillion now in circulation.
Additionally, Altcoin Daily highlighted critical metrics for MEW, such as its 184,000 holders and 100% circulating supply. MEW also boasts a DEX trust score of 99/99 and a verified contract not marked as a honeypot.
MEW collaborates with LOCUS Animation Studios
As for the partnership with LOCUS Animation Studios, the goal is to animate the MEW ecosystem, telling the relatable story of a lonely cat navigating a world dominated by dogs.
The partnership aims to expand MEW’s reach and appeal beyond the cryptocurrency sphere by leveraging storytelling and the visual art of animation.
Significantly, LOCUS Animation Studios is recognized for producing globally acclaimed intellectual properties. These include “Red Shoes” and “Yumi’s Cells”, which were popular in Korea and distributed in 128 countries worldwide.
MEW Exchange List
Additionally, the Altcoin Daily host also expressed admiration for the number of exchanges listing the MEW token for trading. Major centralized exchanges listing MEW include OKX, Bybit, Gate.io, HTX, KuCoin, MEXC, Bitget, and BingX.
Last Thursday, Bithumb listed MEW on the KRW market. On the DEX side, MEW is available on Raydium, Orca and Solana Exchange Jupiter.
Can MEW overcome SHIB and DOGE?
Considering these factors, along with the success of the meme coins launched on Solana, the expert claimed that MEW would rival all dog-themed meme coins. Currently, MEW is the tenth largest meme coin, with a maximum cap of almost half a billion dollars.
Meanwhile, Dogecoin and Shiba Inu boast much higher market capitalizations of $21.3 billion and $13.77 billion, respectively. For MEW to overcome DOGE and SHIBis expected to reach a 30x increase, an astronomical increase that is unlikely without comparable increases for established meme coins, making its journey to the top more challenging.
For example, the meme coin Solana Dogwifhat (WIF) saw a more than 20x increase in the first quarter, but did not come close to surpassing Shiba Inu. Also to it is an all-time high on March 31, WIF’s market capitalization was still 5 times smaller than that of Shiba Inu.
Ultimately, the idea of MEW outperforming Dogecoin and Shiba Inu remains speculative and highly unlikely.
Disclaimer: This content is informational and should not be considered financial advice. The opinions expressed in this article may include the personal opinions of the author and do not reflect the opinion of The Crypto Basic. Readers are encouraged to do thorough research before making any investment decisions. Crypto Basic is not responsible for any financial losses.
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