- POPCAT depreciated on the charts at press time, losing its gains from the previous session
- MEW, on the other hand, was doubling down on its gains
POPCAT and Cats in a Dog World (MEW) have emerged as two standout memecoin assets over the last 24 hours. However, both their performances have been radically different from each other.
In fact, despite having a smaller market capitalization than POPCAT, MEW has registered a more significant hike in value over the past week.
POPCAT and MEW’s daily and seven-day trends
The memecoin sector has been particularly active, with POPCAT and Cats in a Dog World (MEW) emerging as notable performers in the last 24 hours. Initially, POPCAT led with significant gains of over 6%. However, MEW outpaced it with an impressive hike of over 8%, making it the top gainer for the day among memecoins.
Looking at a broader timeframe, the seven-day performance data from CoinMarketCap revealed an even more striking trend for MEW.
It dominated the top 20 memecoin assets, boasting a remarkable 65% hike over the week, far outstripping other assets in its category. In comparison, Dogecoin (DOGE), another prominent player, saw a modest increase of “just” 7%.
Can MEW overtake POPCAT?
At the time of writing, MEW’s market capitalization was just below that of POPCAT, with the latter at around $898 million and MEW at approximately $718 million.
The sustained higher growth rate of MEW, compared to POPCAT, suggests that there could soon be a shift in the rankings within the memecoin market.
Furthermore, an analysis of trading volumes revealed a marked difference in market activity, with MEW commanding a significantly higher volume.
According to the volume charts on Santiment, MEW’s trading volume was over $185 million, at the time of writing. Also, the volume rose to over $200 million during the previous trading session – A sign of strong market interest and activity.
Source: Santiment
On the contrary, POPCAT’s trading volume was considerably lower, standing at around $65 million.
This figure represented less than half of MEW’s volume, underscoring a less intense trading activity. Even in the previous session, POPCAT’s volume was only slightly higher, at around $69 million.
Should this trend continue, MEW might close the gap and potentially surpass POPCAT in market valuation.
What do the price charts say?
Over the past week, the memecoin – A Cats in a Dog’s World (MEW) – has exhibited dramatic fluctuations.
The week began with a significant surge of 38.61%, boosting its price from approximately $0.005 to $0.007. However, the momentum encountered a setback when MEW recorded a decline of over 9%.
Despite this dip, however, MEW has shown resilience. It was trading at around $0.008 again, at the time of this writing, on the back of a 5% hike.
Conversely, POPCAT had a more challenging start to the week, with its price falling BY over 12% in the first two days. Nevertheless, it managed a significant recovery by the end of trade on 26 July, where it saw an almost 15% hike, bringing its price to around $0.9.
This recovery marked only the second hike for POPCAT in the last seven days.
Source: TradingView