Just starting to take steps in the market CatCoin Its price increased by 4793% in one month and virtually dominated the market. After this price increase, it became one of the most profitable meme coins. The asset is up more than 11,000% year-on-year. So what is the reason for this rise and how did the entity suddenly become so powerful?
As most people know, dog-themed meme coins such as Dogecoin, Shiba Inu, Floki Inu and others are among the dominant assets in the market. CatCoin, a cat-themed cryptocurrency, chose to approach the meme issue with a different “animal”. On the other hand, the asset is a deflationary token, meaning the total supply of the token continues to decrease over time. At the time of writing, the token had a total supply of 50,000T CAT, with the entire supply in circulation.
CatCoin price is currently trading at $0.000000001295 after a 75% increase in one day. Despite the price increase, there is no change in the market value of the token compared to yesterday. It recorded a trading volume of $64 million, an increase of 20.02% in just one day.
This significant peak price began to form on March 23, at $0.0000000015 with a trading volume of just $0.7 million.
CatCoin has performed impressively throughout this month. The last increase for the token occurred in August 2023, where it broke the previous ATH high record of $0.000000000044.
The Most Important Reasons for the Increase in Catcoin Price
Due to its poor performance, CatCoin’s role in the market was limited. With the jump in price, the token attracted the attention of investors.
other of existence meme coinThe fact that it is different from others makes it even more interesting. The token is held under DAO (Decentralized Autonomous Organization) and follows peer-to-peer architecture. Here, the community decides about the token rather than the organization or any third party.
These features were highlighted in the recent surge, creating demand for the token. The CatCoin team has also been seen actively participating and publishing on X along with their followers in the last few days, leading to their involvement in trending cryptocurrencies.
The hype started on March 23 and continues even now. It all started with the 300 billion CAT token giveaway, where two lucky winners were randomly selected by the CatCoin team. The gift post reached 76,000 people and thousands of shares and comments. reached.
Giveaway 300000000000.00 $CAT
✅Random Pick 2 Winner who fulfil below Condition –
–Follow @catcoin🐱
– RT this tweet with #catcoin ✅
– Drop your #totheleft Address 😻Web – https://t.co/6zcqpXYsDm
— CatCoin (@catcoin) March 21, 2024
