- Simon’s Cat (CAT), inspired by the YouTube cartoon series, launched a month ago.
- BNB-based CAT has gained about 250% since its listing on KuCoin.
- The project’s description claims to be related to the show’s writers.
Simon’s Cat (CAT), the chubby cartoon character from the British animated series of the same name, entered the blockchain space a month ago. The always hungry cat became a meme thanks to creator Simon Tofield, and the YouTube series has garnered over 1.6 billion views on Simon’s Cat’s official YouTube channel.
CAT Continues Its Exploration into On-Chain Food
The CAT coin first saw an uptrend on August 20, 2024, when KuCoin announced that it would list Simon’s Cat on its Spot product. The new meme coin made headlines in the crypto market as CAT recently entered price discovery, hitting an all-time high of $0.00004624 on September 21, 2024. Since then, CAT has fallen by 16.9%, but is still showing strength with a 40% gain on a monthly basis.
Simon’s Cat, now on its fourth day after reaching the ATH milestone, looks hungry again. Several signs indicate that the big players are back in the CAT accumulation phase. First, Chaikin Money Flow (CMF) is at 0.07 on the 1-day chart, indicating increasing inflow signals. Second, the Relative Strength Index (RSI) is at 40-41 on the 1-hour chart, indicating bullish momentum due to oversold positions.
Will Simon’s Cat Aim for a Binance Listing?
Learn about the token economics of Cat Meme Coin Dailycoin There is a huge supply of 9T CAT tokens, with almost 1T being burned. After deducting tokens owned by the Simon’s Cat Foundation and Simon’s Cat Treasury, there are 6.749T CAT tokens in circulation overall.
On KuCoin, which has a market cap of $260, CAT trading is just 3%. Meanwhile, the cat-themed meme coin is very popular on PancakeSwap, accounting for 12% of daily CAT trading. Centralized exchanges such as HTX, MEXC, and BitMart also account for a significant 26% of CAT trading volume.
At launch, CAT was airdropped to everyone who held Floki tokens (FLOKI) on Binance, and was distributed to everyone who held at least 400,000 FLOKI coins.
The snapshot took place on August 29, 2024 at 23:59:59 UTC, where Binance users received a proportional distribution of tokens based on their FLOKI holders, which led to optimism within the growing Simon’s Cat community that a Binance listing was imminent.
On the other side
- The official X handle for Simon’s Cat Coin has already garnered over 153,000 followers on X and uses the same image as the original YouTube animated series account, which has 465,700 followers.
- This could indicate copyright issues, but Simon’s Cat’s Bybit project description asserts that the token is controlled by the creators of the Simon’s Cat TV and book series.
Why this matters
Internet culture and blockchain technology often amplify each other’s potential, as seen in the numerous adoptions of mainstream meme coins such as Shiba Inu (SHIB), Pepe Token (PEPE), and Dogecoin (DOGE).
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