TL;DR

• Cat in a Canines World (MEW), a meme coin on the Solana blockchain, has notably elevated by 60% in per week, supported by new buying and selling choices on the OKX trade and important investments from large-scale traders.
• The potential for MEW to grow to be the highest Solana-based meme coin is unsure, influenced by market developments and improvements. Regardless of its progress, the token’s success stays speculative with a present market cap considerably decrease than the main asset of that kind, WIF.

MEW’s Spectacular Efficiency

The cryptocurrency sector has skilled extreme turbulence just lately, with its international market capitalization tumbling under the $2.5 trillion mark. A few of the doable causes negatively affecting the business may very well be the geopolitical tension between Israel and Iran and indications that the US Fed shouldn’t be achieved with its rate-hike coverage.

The meme coin realm additionally suffered the antagonistic penalties of actuality, with quite a few property of that kind flashing pink on a weekly scale. The leaders when it comes to market cap—Dogecoin (DOGE) and Shiba Inu (SHIB)—have nosedived by double digits, whereas Pepe (PEPE), Floki Inu (FLOKI), and Bonk Inu (BONK) have witnessed much more important losses.

Nevertheless, one meme coin is nicely within the inexperienced, and its title is Cat in a Canines World (MEW) – up a whopping 60% on a seven-day scale.

Earlier this week, its value exploded by 100% day by day after the main cryptocurrency trade, OKX, launched buying and selling companies with it. The asset additionally caught the eye of some whales who entered its ecosystem with multi-million investments.

How Excessive Can MEW Fly?

We determined to ask ChatGPT whether or not the token can keep progress within the following months and grow to be the largest Solana-based meme coin earlier than the tip of this 12 months.

The favored chatbot estimated that such a situation is dependent upon numerous unpredictable components, together with market developments, investor curiosity, social media affect, and extra. It claimed that MEW can full that objective by introducing modern options that different meme cash don’t supply.

Final however not least, the cat-themed asset might profit from a possible development of the Solana community.

Presently, MEW has a market cap of lower than $500 million, whereas WIF (the biggest meme coin constructed on the Solana blockchain) has over $3 billion.

In conclusion, ChatGPT acknowledged that outlining such a prediction is extremely speculative and unsure, warning traders to conduct correct due diligence earlier than hopping on the meme coin sector resulting from its notorious volatility. These prepared to learn to keep away from some frequent errors associated to the matter can check out our devoted video under: