3 Free Falls Cat Theme Coins

JAKARTA - Cat-themed meme coins experienced a sharp decline, becoming a symbol of losses amid the red waves that hit the market. Investors are seen switching from meme tokens, triggering a decline in market capitalization from Bitcoin to altcoins. The total market capitalization fell 2.55% to 2.42 trillion US Dollars (approximately IDR 39.5 quadrillion), while trading volume decreased 16%.

Cat-themed meme coins, which previously enjoyed popularity among investors, have now recorded a decline in market capitalization by 1.6% with a total figure of 57.2 billion US Dollars (approximately IDR 936 trillion). Although some assets recorded an inflow that countered market trends, these coins plunged to an unprecedented low since the previous rebound, with a total loss of 5.5% today, causing a decline in market capitalization to 1.95 billion US Dollars (approximately IDR 31.8 trillion).

Here are three meme coins that have experienced a drastic decline according to CoinGape data:

Cat in a Dog's World (MEW)

MEW, one of the leading cat-themed meme coins, fell 11.6% in the past 24 hours, bringing its weekly figures to the red zone. In the last seven days, MEW showed an outflow of 10.9%, following a downward trend in meme coins. However, MEW has a more positive long-term trend, suggesting that current corrections may be only temporary.

MEW's total market capitalization fell to 347 million US Dollars (approximately IDR 5.6 trillion) with trading volume above 81.3 million US Dollars (approximately IDR 1.3 trillion). Even though trading was below its previous high, the MEW community remains optimistic that there will be a rebound when market sentiment turns around.

Mog Coin (MOG)

MOG, an asset that has skyrocketed in popularity, plunged 11.3% today and 34% this week. Weekly losses increased as investors withdrew funds from risk assets amid other industrial factors. MOG prices continued to decline, boosting sales although its community hopes to rebound as seen in previous months. MOG's market cap reached 331 million US Dollars (approximately IDR 5.4 trillion) while the daily trading volume surpassed 30.9 million US Dollars (approximately IDR 505.6 billion).

Popcat (POPCAT)

Popcat, the third cat-themed meme coin by market cap, decreased by 7.2%, and 32.6% over the week. Unlike other assets, Popcat's monthly figure is still in the red zone, bringing this asset even deeper into a ravine. Popcat's market capitalization ranges from USD 247.7 million (approximately IDR 4 trillion) due to the increasingly severe bearish outlook.

In uncertain market conditions, these cat-themed meme coins must face a major challenge to return to a more stable position. Investors are advised to continue to monitor market developments and make decisions based on careful analysis.