As a seasoned researcher who has closely followed the dynamic world of cryptocurrencies for years, I can confidently say that the recent listing of Cat in a Dogs World (MEW) on Upbit is indeed a significant event. Having observed the market’s response to similar listings in the past, I am not surprised by the bullish wave that MEW has ridden following this announcement.
As an analyst, I found myself captivated by the surge in attention for the Solana meme token, Cat in a Dogs World, on Monday within the realm of meme cryptocurrencies. The price of the MEW token skyrocketed an impressive 14% following its listing on a well-known cryptocurrency exchange.
Cat in a Dogs World (MEW) Secures Listing On Upbit After DOGE & SHIB
Today, October 21st’s official Upbit announcement disclosed that Cat in a Dogs World has been added to the Korean Won (KRW) market. As a result, traders can now participate in MEW/KRW transactions on the platform, starting at 16:00 UTC today. However, be aware that buy orders will be temporarily restricted for approximately 5 minutes following trading support, as stated in the announcement.
Additionally, transactions such as deposits and withdrawals can exclusively be processed through the MEW-Solana network, according to the South Korean cryptocurrency exchange. Moreover, these actions are only possible using personal wallet addresses once ownership verification is done. However, the listing on this platform expands trading opportunities in Asia, creating optimism among traders and investors about increased engagement with this asset.
It’s interesting to point out that the token on the Solana platform is now the third meme coin to be added to the exchange with a Korean Won (KRW) peg, after DOGE and SHIB. At the same time, MEW’s price has been on an upward trend today, likely due to the announcement of its listing on Upbit.
Solana Meme Coin Extends Gains
In the last 24 hours, the price of Mew has climbed by 14%, reaching a current value of approximately $0.009561. Its lowest and highest points during this period were $0.008382 and $0.01043 respectively. Furthermore, the announcement of its listing seems to have been well received by traders, as the daily trading volume surged an impressive 370%, reaching a substantial $358.26 million.
In the meantime, market observers are looking forward to additional growth in the asset, largely due to the announcement of its listing, while considering historical data. Interestingly, the Solana meme token saw a notable surge last month following Upbit’s announcement of listing it in both BTC and USDT markets. This earlier success has generated considerable interest in its latest pairing with KRW.
Furthermore, data from Coinglass shows a significant increase in the future Open Interest (OI) of the Solana-based coin, reaching approximately $165.43 million today, marking a nearly 16% rise. Additionally, the derivatives volume surged by an impressive 302%, totaling $1.32 billion. This surge has fueled optimism and, combined with today’s price increase, suggests that MEW is currently experiencing an upward trend.
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2024-10-21 13:31