The Latest Lineup of Memecoins — POPCAT, MEW, MOG and CAT — Has Taken the Stage

After the Federal Reserve cut interest rates by 0.5% Wednesday (Sept. 18), these furry favorites have seen gains of up to 40%

A new litter of memecoins — POPCAT, MEW, MOG and CAT — is making waves in the cryptocurrency world.

After the Federal Reserve cut interest rates by 0.5% on Wednesday (Sept. 18), these cat-themed tokens have seen gains of up to 40%, sending traders into a buying frenzy, CoinDesk reported Friday (Sept. 20).

Leading the pack is POPCAT, which saw its market cap reach $1 billion.

Meanwhile, MOG experienced a 70% surge over the last fortnight, buoyed by a dedicated community on social media where “mogging” is the new “meow.”

And CAT, the token that is linked to Simon’s Cat comics, saw $145 million in trading volume in just 24 hours.

These gains come as dog-themed tokens, such as Dogecoin (DOGE) and Shiba Inu (SHIB), saw a modest 4% bump in the past 24 hours, according to CoinDesk, citing data from CoinGecko. Cat-themed tokens, on the other hand, are soaring with a 14% rise.

“Memecoins are experiencing a surge largely due to the anticipation of increased liquidity…,” Alex Andryunin, founder of Gotbit Hedge Fund, told CoinDesk. “Market expectations for lower rates have converged, and with the prospect of more liquidity entering the financial system, investors are adopting a bullish sentiment.”