Solana
Solana memecoin Catwifhat defies market trend with 40% surge
Bitcoin and other top cryptocurrencies may show bearish trends, but the Solana Catwifhat (CWIF) coin is bucking this trend.
Catwifhat, a feline-themed counterpart to the Soalna memecoin Dogwifhat, is back on an upward trajectory. The coin surged 42% today, reaching $0.00000082 following a 60% increase in trading volume. Data from CoinMarketCap reveals that Catwifhat has regained a market capitalization of $30 million.
The meteoric rise of dog hat is still fresh in the minds of investors who are careful not to make its feline counterpart disappear. At its peak, Dogwifhat became Solana’s top coin, reaching a valuation of $4.8 billion.
Additionally, Dogwifhat has established a strong correlation with Solana, which has been one of the main cryptocurrencies in the current bull market. Now, Catwifhat appears to be following suit. It has seen a 400% rise over the past week while maintaining a market cap of just $30 million.
Although its current market cap of Catwifhat is only a fraction of Dogwifhat’s peak, the coin continues to receive significant catalysts that bolster its value.
April 25, Catwifhat Perpetual Futures spear on BitMart, providing a new trading avenue for investors. Additionally, its market capitalization and circulating supply are now verified by SolanaFM, CoinMarketCap, Solscan, and CoinGecko. It is also trending on platforms such as DEXTools and Bireye.
Catwifhat’s X account, as well as that of her supporters, is now advocating For KuCoin to list the same coin on its exchange.
The latest wave of Solana-based coins comes as Franklin Templeton, a major asset management firm, has acknowledged this. The growing potential of Solana to consolidate its position as the third largest cryptocurrency on the market.
The company’s recognition of Solana aligns with its appeal for scalability and low transaction fees. These characteristics have made Solana fertile ground for meme tokens like Catwifhat and other notable tokens, such as BONK and WIF, which have remained among the top 100 cryptocurrencies in terms of market valuation.