A meme coin namely, Catcoin, is causing new trends in the market by causing gigantic price hikes. The cost of the coin hiked above 4000% and has gained attention from all corners.
It has caught the eye of crypto enthusiasts and the massive price hike is expected to appeal to more investors towards the coin.
How did all this happen? Are we going to face an era dominated by meme coins? How on earth did cat coins manage to soar above 4000%? You have to know this if you have been planning to make crypto investments.
Maybe this is the coin that helps you to make a fortune out of crypto. Are you curious to know more? Keep on reading to find out more.
What Is Catcoin?
Catcoin is a community-influenced crypto project and it aims to connect crypto and social media. The coin was launched back on November 26, 2021. It is a mem coin just like Dogecoin and other meme coins out there.
The coin is inspired by the cat Miaoshi Nekomoto, the cat of Bitcoin founder Satoshi Nakamoto. It is one of the world’s top community-driven projects.
The project aims to create awareness of the issues that cats face, stop violence against stray cats, and promote their well-being.
We hope you are already familiar with the canine coins out there, the Dogecoin, Floki Iu, Shiba Inu, and more, all of which are dog-themed coins. Catcoin is one of the prominent cat-themed cryptocurrencies.
It is a deflationary token which means that its total supply would keep decreasing with time. The maintenance of Ctacoin is under the control of DAO (Decentralised Autonomous Organization). It follows a peer-to-peer architecture.
It means there is no entity or authority that makes major decisions on the token, rather it is the community that makes the decisions on the token. There is no involvement of any third parties or other organizations.
What Caused The Catcoin Hike?
Let’s read more about the sudden price hike that happened in the case of catcoin. What caused this hike and what triggered the price of the coin?
Catcoin’s worth soared up to 4793% towards the end of March 2024 which made some historical marks in the history of the coin and the whole history of the crypto realm.
It is worth noting that the market is facing high volatility currently, and the coin price surge withstanding this volatility. Many crypto experts believe that if the price surge continues, Catcoin may soon take over the meme market.
On March 23, 2024, Catcoin started to face major hype from all sides. The reason is estimated as the token giveaway announced by the coin. Catcoin had announced a token giveaway in which 300 billion CAT tokens were announced to give away.
The team of mem coin selected two lucky winners at random which grabbed the attention of the crypto communities.
The post detailing the giveaway reached the attention of around 76k people and resulted in massive shares and comments across social media platforms.
This resulted in more people favoring this meme coin. It helped the coin to receive a hike from the market which was already a bullish trend, the coin has been on a price hike ever since.
CATCOIN Tokenomics
The circulating supply of the coin is 971,553,086,908,608 with a market cap of $1,827,130. There are a total of 25,300 holders. Its ownership is renounced and liquidity is locked.
The coin has a 3% tax on sell and a 3% tax on buy. It is audited by SolidProof and Certik. Owning the con means you can stake it, vote for it, and game-using it.
To Take Away
Meme coins are crypto coins that are inspired by an individual, a character, or an animal or related. Most of the meme coins at their launch are lightweight and funny.
So far, we have seen many of these meme coins surging in price and turning into worthy crypto assets. Such a coin is Catcoin, which has faced a price hike above 4000%, almost nearly to 5000% all because of an X post by its community.
