A massive purchase of $MOG tokens has sparked significant movement in the memecoin market.
A crypto whale spent 1,805.9 ETH, equivalent to $6.02 million, to acquire 221.65 billion $MOG tokens, resulting in a 20% price surge within just seven hours.
The whale reportedly withdrew the funds from Bitget seven hours ago before completing the purchase through the Bitget Wallet. The tokens were acquired at an average price of $0.0000027, showcasing the whale’s confidence in $MOG’s potential.
This dramatic purchase and subsequent price increase highlight the growing interest in cat-themed memecoins as they attempt to rival their dog-themed counterparts.
Cat Memecoins: Closing the Gap on the Dogs
Despite the buzz around $MOG, cat-themed tokens still have significant ground to cover in the memecoin race. Here’s where they currently stand:
– $POPCAT: Requires a 37x increase to compete with $DOGE.
– $MOG: Needs a 14x rally to catch up with $SHIB.
– $MEW: Only 4x growth is necessary to match $BONK or $WIF.
Currently, the total market capitalization of cat memecoins sits at $4.8 billion—well behind the $82.8 billion valuation of dog-themed memecoins. This disparity suggests the market is ripe for a $10 billion cat contender to emerge.
Memecoin Supercycle Heating Up
With the memecoin supercycle still gaining momentum, the rapid rise of $MOG and other cat-themed tokens signals a potential shift in the market. As investors look for the next big opportunity, cat memecoins are positioning themselves as serious competitors in this playful yet lucrative sector.
Disclosure: This is not trading or investment advice. Always do your research before buying any Metaverse crypto coins.