Simon’s Cat token, CAT, has made significant gains since its launch on August 23, 2024. Multiple elements have factored into the surge, including, but not limited to, listing on platforms, burning tokens, and the latest airdrop. Interestingly, it has ignited a discussion wherein the central point is whether a major cat-themed token can ever surpass dog-themed tokens—a direct hint at overtaking the likes of DOGE and SHIB.
The race is in terms of market cap, and by the way, Simon’s Cat is far from achieving that target. Token value, however, is still a possibility.
The market cap of CAT is $179,181,692, with a jump of 3.81% at the time of writing this article. As for the factors, getting listed on Gate.io and HTX has served it fairly well. The token ended up rising by almost 69% in the previous week. Listing on more platforms translates to its gaining adoption and demand within the crypto sphere. Plus, it enables more investors to access and accumulate Simon’s Cat tokens in their respective wallets.
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Based on BNB Chain, Simon’s Cat has constantly seen a rise in its price since its inception. Chances are that it will continue to see a surge, especially since the market itself is on the edge of marking notable gains in the times to come. Simon’s Cat has a long way to go before it enters the list of top 200 tokens in terms of market cap. The meme coin segment, however, is a different story altogether.
The next factor is token burning, which eliminated 900 billion CAT tokens from the supply. Thereby bringing it down by almost 10% and boosting its value. Simon’s Cat even hit a high on August 27, 2024, by reaching the value of $0.0000286. The value right now is $0.00002351, up by 3.975 in the last 24 hours and 77.59% in the last 30 days, or rather since its inception. It is predicted to soar by 223.75% in the next 30 days to reach the value of $0.00007895.
The latest on-chain airdrop by Simon’s Cat team allocated 1.5 percent of CAT’s supply to Floki Trading Bot users.
A snapshot was reportedly taken on August 29, 2024, at 23:59:59. Participants with at least 400K FLOKI tokens qualified, considering the airdrop led by FLOKI and Binance to bring out roughly 20% of the total supply.
Investors have been asked to exercise caution as any crypto with a huge potential can still crumble at any moment. It is a hit among other new presale tokens, but volatility prevails across the market, impacting price movements on the graph.
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CAT is comparatively lower than SHIB and DOGE, as both have spent more time in the market. Given the ongoing sentiment about ‘dog token vs. cat token,’ there is a chance that Simon’s Cat will emerge as a strong contender to them.
