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Home»ADOPTION NEWS»Popcat briefly secures $1 billion FDV with $630k buy to win Polymarket bet
ADOPTION NEWS

Popcat briefly secures $1 billion FDV with $630k buy to win Polymarket bet

By Crypto FlexsJuly 22, 20242 Mins Read
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Popcat briefly secures  billion FDV with 0k buy to win Polymarket bet
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Market • July 21, 2024 12:55 PM EDT

Posted 1 minute earlier In ~

Here are some dog-themed meme coins: Dogecoin viceroy

+5.58%
And there are even newer Mimecoins. Pepe Pepe

+1.08%
Cat-themed Mimecoin, which has long dominated the cryptocurrency space, has been rallying recently. It has soared to new heights in recent months.

Now a new, albeit brief, milestone has been passed. Popcat Popcat

-2.97%
Dexscreener became the first cat-themed meme coin to surpass a fully diluted value (FDV) of nearly $1 billion. The coin hit an all-time high after user X Wiftardio bought $630,000. According to on-chain data, Wiftardio’s wallet holds around $19 million in various memecoins, including $7.7 million worth of dogwifhat, $2 million worth of Billy, and now $5 million worth of Popcat.

According to Solscan, Wiftardio first purchased around $475 worth of Mimecoin two months ago, and quickly amassed over 6.3 million tokens, which at the time was worth around $2.6 million.

The purchase resulted in the settlement of a bet on Polymarket on whether the cat-themed memecoin would first cross the $1 billion FDV mark. Some commentators on Polymarket have accused the massive purchase of market manipulation, but when contacted by The Block, Wiftardio denied that their purchase had anything to do with the betting market, saying, “It’s just to keep the cat popping up!”

According to The Block’s Popcat pricing page, Popcat has since fallen below $1 billion in FDV and is now trading in the low-to-mid $900 million range.


Disclaimer: The Block is an independent media outlet providing news, research and data. As of November 2023, Foresight Ventures is the largest investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, influential and timely information on the cryptocurrency industry. Current financial disclosures are as follows:

© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be legal, tax, investment, financial or other advice.

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