Solana hits new high with WIF, enters "cat season" frenzy.

Ritu13

On March 31st, WIF surged past $4.85, with a 24-hour increase of 4.14%, once again reaching a historic high. Currently, this "dog-faced" token has surpassed PEPE to become the third-largest meme token by market capitalization. Upon careful observation, you'll notice that nearly half of the meme tokens in the top 10 by market capitalization are related to dogs, with the top three spots all dominated by "Dog coins".

As the oldest meme coin in the crypto space, Dogecoin's precedent of "dog as meme" has had a profound impact on the crypto meme market. Over the past few years, almost every hot meme on each blockchain has been dog-related, such as AIDoge in the Arbitrum ecosystem and Chihuahua in the Cosmos ecosystem. Even in a podcast interview with Lex Fridman, Vitalik himself stated that "cat memes" have never succeeded in the crypto market.

Interestingly, this situation seems to have changed after the rise of WIF. Not long ago, a meme token called "Cat in a dogs world" (MEW) once again swept through the Twitter crypto community and the Solana ecosystem. MEW's main theme is "anti-dog sentiment". Upon visiting its official website, the first thing that catches your eye is a simple slogan: "Dogs have ruled this world for too long," and in the background image, a poised white cat is aiming its claws at the "dog gang" composed of well-known memes like Bonk, Wif, and Shib.

After an initial surge followed by a pullback, MEW quickly entered a second wave of upward trends, garnering up to a 10-fold increase in just two days. Yesterday, the community also discovered that users who purchased the Solana SAGA Phase 2 mobile phone received a small MEW airdrop. As of now, MEW's market capitalization has reached $500 million, with daily trading volume remaining at nearly $100 million.

With the continued popularity of MEW, Solana seems to be gradually entering the "cat season" frenzy. This morning, after MEW's official Twitter account retweeted a tweet from Solana ecosystem's renowned KOL Ansem, a meme token called "Ansem's Cat" (Hobbes) suddenly surged to the top of Dexscreener's Solana ecosystem hot list, generating $50 million in trading volume in less than 4 hours since opening.

Besides Hobbes, nearly all the recent popular trading pairs on Solana have been dominated by "cat coins". In addition to MEW, NUB, and other "mainstream cat coins," many meme coins have integrated the essence of previous meme crazes in Solana: borrowing from Wif's format, incorporating "cat" into the names of Silicon Valley companies or crypto projects like Snapchat, Microsoft, CoinMarketCap, and Phantom.

Since the beginning of this year, meme speculation in the Solana ecosystem has been leading the entire crypto meme market. This time, can the "cat coin movement" sparked by the Solana ecosystem truly elevate cats in the crypto meme market?

Yamini003

This transition has also attracted quite a bit of attention.