Cat-Themed vs Solana Memecoins: What To Look Out For
Cat-themed and Solana memecoins recorded inflows in the last 48 hours based on positive Bitcoin halving momentum and a reversal of the previous downtrend. This uphill movement is seen as some assets have spiked above 100% this week although some posted outflows.
Solana memecoins dominated narratives in Q1 2024 as memecoins went into a frenzy. On-chain activities for most tokens drove the price of Solana wiping off previous losses. Although the frenzy has cooled, similar surges are recorded periodically.
Bull Cycle and Institutional Flows Boost Tokens
The market capitalization of Solana memecoins stands at $7 billion with a $1.3 billion trading volume.
A key indicator for an upward run in Solana’s new iOS is the price of the assets and inflows to its institutional products. These factors can spur renewed optimism in the memecoins as they tend to soar in bull cycles. Institutional flows to Solana are also important because last year’s asset growth was on the back of movements from traditional finance.
On the other hand, Cat-themed memecoins are less mainstream than Solana. However, some cat-themed tokens have soared above many Solana memecoins and continue to rally in the last 30 days. At press time, catcoins are up 5.8% today at a market cap of $1.7 billion.
Top Cat-themed and Solana Memecoins
Popcat leads the trending charts with over 25% gains in the last 24 hours. This movement places weekly flows at 226%. While Popcat remains flying, gmeow is the highest gainer at 121% while Batcat and Bingus the cat posted 168.6% and 57.2% respectively.
Most of the trending cat-themed memecoin are in the Solana ecosystem showing the correlation of trading patterns. This also indicates the current enthusiasm for cat-themed tokens than other rivals after the Bitcoin halving. The Bitcoin halving spurred renewed speculation in the market with crypto assets notching upticks.
Miners’ movement before the halving also led to renewed optimism in the cryptocurrency market.
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