What happened to the momentum of feline-themed Memecoins?

Feline-themed memecoins dominated cryptocurrency gains last month, amid double-digit inflows into assets as the broader market recovered. The asset class rose more than 40% versus leading stocks memecoin and other categories with earnings in new coins.

However, major cat-themed memecoins lost momentum this week as most assets sank into the red zone without rising alongside other cryptocurrencies. As of this writing, the market capitalization of feline-themed assets is $1.7 billion, a decline of 7.8% over the past 24 hours. Trading volumes also remain low for most assets, despite an increase in dog-themed assets.

Feline themed tokens hit low

Major feline-themed tokens saw increased outflows today. Popcat, the top asset by market cap, fell 6.4% today, although weekly gains remain at a lofty 60%. Popcat’s market capitalization is over $516 million with a daily trading volume of $58.3 million.

MEW and MOG fell 3.9% and 7.8% today. MEW is still at weekly highs of 11.6% despite volumes plummeting to $47 million. WEN, which had also posted gains earlier, is down 4% today. According to data from CoinGeckothe three trendiest feline-themed memecoins today MANEKI, POPCAT and WEN remain in the red zone.

However, some assets posted gains thanks to community demonstrations over the past 48 hours. MaxCat grew 37.5% in the market while UpSideDownCat and Croc cat recorded 13.3% and 23.2% respectively in the same period.

Increase in the broader market

The broader cryptocurrency market has recovered from last week’s sell-off as Bitcoin (BTC), altcoins and memecoins see new inflows. This comes after renewed market and sentiment and a reversal of macroeconomic factors with a focus on future interest rate cuts.

Bitcoin price is above $63,000 while Solana leads the recovery with a weekly inflow of 21%. SOL’s price is $151.69 with trading volume exceeding $2.6 billion. Likewise, Solana memecoins have surged with some users predicting a bull run.

Read also: Altcoin double-digit rally ignites bullish projections

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