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HomePet NewsCats News'Ansem's Cat' Meme Coin Named After Solana Influencer's Cat Teleports To $100M...

'Ansem's Cat' Meme Coin Named After Solana Influencer's Cat Teleports To $100M Valuation In One Day

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Ansem’s Cat, a brand new meme coin named after the cat of Solana (CRYPTO: SOL) influencer and dealer Ansem, rocketed to a valuation of almost $100 million inside the first 24 hours of its launch.

What Happened: The 2024 meme coin saga added a brand new chapter, as Ansem, an influential determine within the Solana ecosystem teased and later revealed his cat’s identify as Hobbes:

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Subsequent video proof of the cat solely spurred on the rally of HOBBES (the meme coin), which shot to a preliminary all-time excessive market capitalization of $98 million on buying and selling quantity of over $170 million per DexScreener information.

The cat reveal hit an already heated meme coin market, which has seen cat-related hypothesis over the previous week. MEW, one other cat-themed coin, had shot to a valuation of over $500 million the prior week, netting a dealer a 255X return.

Read Also: Bitcoin Advocate Slams AI Coin, Doubles Down Against Community Backlash: ‘I Will Outlast Every One Of You’


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Why It Matters: The “cat mania” has gripped the meme coin market, with cat-themed cash lastly catching as much as the efficiency of dog-themed cash like Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB).

As one influencer factors out, cat-themed cash severely lagged in valuation solely a month in the past however are actually closely trending on Solana:

Per CoinGecko information, the market capitalization of cat cash has surged to $1.9 billion, barely closing the hole to canine cash” $52 billion valuation.

Hobbes’ proprietor Ansem has been a key determine for the expansion of Solana meme cash, serving to to boost money for the looks of Dogwifhat (CRYPTO: WIF) on the Las Vegas Sphere and placing “a hat” on the Wall Street Bull statue.

The influencer additionally teased “the first cat to a dollar” in a tweet, with out specifying which coin he referred to.

What’s Next: The influence of meme cash on in cryptocurrency investments is anticipated to be totally explored at Benzinga’s upcoming Future of Digital Assets occasion on Nov. 19.

Read Next: Trader Who Urged Everyone To Buy $1 Of Bitcoin In 2013 Now Advocates For ‘Dogecoin Killer’ Shiba Inu

Image created utilizing synthetic intelligence with Midjourney.

© 2024 Benzinga.com. Benzinga doesn’t present funding recommendation. All rights reserved.

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