In five days, can Cat blow the BNB Meme horn tenfold?
CAT is a meme coin based on the cat concept that has recently taken the BNB Chain by storm, with its market value soaring from 25 million dollars to 200 million dollars.Author: Alvis, MarsBit
Emerging out of nowhere, it launched with a market cap of 25 million USD. In just 5 days, over 13 exchanges rushed to list it, and its market cap skyrocketed to 200 million USD, becoming the most traded Memecoin on the BNB Chain recently. The price surged like a runaway horse, making one wonder if they were dreaming in a raging bull market.
This is the recent cat-themed Meme coin that has stirred up a frenzy on the BNB Chain—Cat.
In its Telegram group, over 20,000 enthusiastic holders are cheering loudly: "If the Solana meme season in March opened the narrative of cats vs. dogs in cryptocurrency, then Cat will make cats great again in the crypto world."
A Look Back at Simon's Cat Development, Deeply Connected to Floki
Simon's Cat Token is an officially recognized memecoin, supported by the complete intellectual property rights of the iconic Simon's Cat brand.
"Simon's Cat" is adapted from the beloved British animated series created by Simon Tofield, which has garnered over 1.6 billion views on its official YouTube channel, with even more views across various social networks.
Floki announced that it would launch the token of the well-known brand Simon's Cat on the TokenFi Launchpad on August 20. The Simon's Cat token will be exclusively issued on the BNB Chain, with the token code CAT and a total supply of 90 trillion. The presale raised 4.25 million USD, with a presale market cap of 25 million USD, and all tokens will be unlocked for circulation at TGE.
On August 20, FLOKI published an article stating that Binance would support the airdrop of Simon's Cat (CAT) to FLOKI holders on the platform. If users hold FLOKI on Binance, they do not need to withdraw their tokens from Binance. Users must hold at least 400,000 FLOKI tokens on Binance to qualify for the CAT airdrop, which will be distributed based on a snapshot taken at 07:59:59 on August 30, 2024, with eligible FLOKI holders receiving a proportional allocation of 390 million CAT tokens.
On August 22, FLOKI DAO voted to invest 200,000 USD from the FLOKI treasury into the Simon's Cat token, holding it as a strategic asset.
On August 26, the meme coin Simon's Cat (CAT) team announced on its social platform that it had completed a liquidity lock of CAT tokens worth 15 million USD, using the FlokiFi Locker protocol.
As of the time of writing, CAT is priced at 0.0(4)253 USD, with a 24-hour increase of 24.38%, and a current market cap of 210 million USD. The liquidity pool stands at 14 million USD.
From this phenomenon, we can glimpse the mysterious forces behind CAT's explosive rise—clearly, it has intricate connections with heavyweight players in the Web3 space such as Floki, Binance, and DWF Labs. This connection has sparked immense market interest in CAT, and despite a brief price pullback at the resistance level of 0.000025 USD, market enthusiasm has not waned.
The tightening and subsequent expansion of the Bollinger Bands suggest that early investors may have chosen to take profits before a new wave of buying arrives. Additionally, the project's Relative Strength Index (RSI) is fluctuating between overbought and neutral zones, indicating that the CAT token is far from reaching an oversold state, suggesting that its potential may still await further market exploration.
In short, the story of CAT continues, and every pulse of the market tells of its infinite possibilities.
The Strong Background of Cat: The Animation "Simon's Cat"
"Simon's Cat" is a highly popular animated series created by British animator Simon Tofield. The series originally began as a series of online animated shorts and later expanded into books, apps, and children's literature.
Simon Tofield released his first animated short "Simon's Cat" in 2008, which quickly went viral and garnered millions of views on YouTube. The animation tells the story of a pet cat named "Simon's Cat" and its amusing interactions with other animals. This cat is loved for its humorous, mischievous, and adorable personality.
Simon's Cat often gets into various funny conflicts and adventures with other animals (such as birds, rabbits, squirrels, etc.) in the garden. The animation's style is simple and humorous, usually without dialogue, telling stories through the characters' actions and expressions, giving it universal appeal.
Over time, Simon's Cat has become a brand, and Simon Tofield has created several books featuring this cat as the main character. In 2019, he released an animated film titled "Simon's Cat: The Big Adventure." The series has won the hearts of global audiences with its light-hearted atmosphere and humorous portrayal of animal behavior.
Currently, Simon's Cat's official Twitter account has over 460,000 followers, and its YouTube channel has 6.27 million subscribers, with one popular video exceeding 50 million views. This demonstrates the strong brand power of "Simon's Cat," laying a solid foundation for Cat's marketing.
What Does the Community Think?
Cat's official Twitter account is exceptionally active, with each visit revealing a series of creative content based on the "Simon's Cat" animation. This not only enriches the brand image but also attracts widespread attention. In terms of trading activity, the number of Cat's trading wallets has quickly surpassed 30,000 in a short time, indicating its popularity among investors.
Currently, discussions about Cat on domestic platforms like X and Telegram are not very high, mainly with foreign communities discussing it.
The communication in its Telegram community is continuous. Foreign netizens remain optimistic about Cat and are fervently promoting it, filling the Telegram community with homemade memes and other creative content, expressing that Cat has already become a sensation. If Cat can successfully break out, it may form an ecosystem similar to 4Chan (a famous imageboard).
Narrative + BNB Chain Support, Can Cat Shine Brightly?
With multiple favorable factors such as interest rate cuts approaching, this bull market may set epic new highs. The cryptocurrency market will enter a frenzy, and a major consensus in this bull market is the search for super Memes.
The Binance wallet has been carefully laying out in the market recently, and the continuous listing of low market cap small coins has stirred ripples in the secondary market, awakening long-lost market vitality while attracting numerous eyes to the Binance ecosystem. Additionally, as the date of CZ's release approaches, market expectations for related concepts and its ecosystem are quietly heating up.
Can Cat ride this strong tailwind to soar? Let’s wait and see.
