Cats Trump Dogs In Token Transaction Volume

Over the past 24 hours, cat-themed tokens have become the number one trending tokens, boasting more than $340 million in trading volume.

The dominance of these feline-themed digital assets over the dog-themed ones indicates a significant shift in investor sentiment for meme coins. According to a GeckoTerminal post on X, HOBBES, MEW, SNAPCAT, NUB, and KEYCAT are the leading cat-themed tokens in trading volumes over the past 24 hours.

Traders seem to suggest that cats > dogs #Cat is now the no.1 trending category on-chain, with $341M in transaction volume in the past 24H!
https://t.co/kBnzoKdTuw

Here are the top cat tokens by 24H volume:$Hobbes – Ansem’s Cat$MEW – cat in a dogs world#SNAPCAT -… pic.twitter.com/7w7Air99Fx

— GeckoTerminal (@GeckoTerminal) April 2, 2024

Cat-Themed Tokens’ Dominance

HOBBES (Ansem’s Cat) is currently commanding attention with a price surge of 63.2% and a trading volume of about $74,000 in the last 24 hours, per Coingecko data. Based on the same data, MEW (cat in a dog world) ranks second to HOBBES with a price increase of 2.7% and a trading volume of about $105 million within the same timeframe.

Furthermore, SNAPCAT (snapcat) ranks next to MEW with a price surge of 1.5% in the past 24 hours and a trading volume of $15,000. Despite its relatively short lifespan (one day), SNAPCAT is already making waves in the memecoin world.

While NUB (nubcat) and KEYCAT (Keyboard Cat) are experiencing a significant price decline (about 84% and 75%, respectively), their trading volumes have been on an uptrend. KEYCAT’s trading volume in the last 24 hours has exceeded $2 million, while NUB’s is nearly $17,000.

Most of these cat-themed meme coins are built on the Solana blockchain and have been a significant factor driving interest in the Solana ecosystem and SOL lately.

Dog Vs. Cat-Themed Token Options

However, dog-themed meme coins still reign supreme in the broader context of the memecoin crypto market. According to CoinGecko, the total market cap of dog-themed meme coins currently stands at almost $53 billion, dwarfing the $1.86 billion total market cap for cat-themed tokens.

Bonk 2.0 leads the gainers’ chart among dog-themed tokens at approximately 40%, while Catcoin leads the gainers’ chart among cat-themed tokens at about 42%. Moreover, Dog-themed coins, notably Shiba Inu (SHIB) and Dogecoin (DOGE), recorded over $24.2 billion in trading volume in March, showcasing their continued popularity among investors.

Nevertheless, Popcat (POPCAT), a Solana-based meme coin, has reached over $60 million in trading volume, suggesting that the dominance of dog-themed tokens may soon be over. With the best-performing cat coin, Popcat, boasting nearly 450% gains in the last month, it’s clear that feline assets are clawing to the forefront of the memecoin crypto market. Beyond price gains, Ethereum co-founder Buterin believes there are other benefits meme coins can offer.