CATS Price Soars Up To 690%, This Is The Cause!

CATS prices jumped to 690% (Photo; Doc. Crypto Times)

JAKARTA - The price of CATS tokens, cat-themed meme coins, skyrockets to 690% in a day. Although the crypto market tends to slow down, this spike has left many investors feeling left behind. Even though this increase did not last long, the initial advantage of this coin still attracted the attention of many parties.

CATS is one of the popular meme coins based on blockchain TON (The Open Network). Previously, this token moved slowly until it finally recorded its best performance in a single day. CATS prices jumped by 690%, hitting a high of 0.00.7238 US Dollars (approximately IDR 11.16) with a trading volume of 106.063.21 US Dollars (approximately IDR 1.63 billion). This increase shows a surge in demand for the token.

According to Coingape's information, one of the main factors behind this spike is the large number of leading crypto exchanges that are starting to trade CATS tokens. Exchanges such as Bybit, KuCoin, Bitget, and Haskey are among the platforms that have listed these tokens. News of listings on these exchanges quickly triggered an increase in trading volume, which rose 13 times in just a matter of hours.

Not only that, CATS' popularity is also influenced by its close relationship with Telegram. In recent months, game-based tokens on the Telegram platform, especially meme coins, have continued to attract investor attention. One example is the Hamster Kombat game, which has won more than 300 million users in several months. However, the price of the HMSTR token (Hamster Kombat) is still struggling and has not reached 0.1 US Dollars (around Rp1,541), leaving many investors disappointed.

The CATS price spike peaked about 11 hours ago, when prices rose from 0.00.14141 US Dollars (approximately IDR 2.18) to 0.0007238 US Dollars (approximately IDR 11.16) in a few hours. However, after peaking, prices fell drastically by 84%. As of the writing, CATS was trading at a price of 0.00.0814 US Dollars (approximately IDR 1.25), with high selling pressures continuing to push prices down.

This price drop was largely due to gamers starting to pull their airdrop tokens from Season 1. Although Season 2 of CATS' airdrop program has been announced, the sharp decline after this major spike disappointed many token holders who had high expectations.