Meme coin mania is ramping up again after catwifhat’s (CWIF) price more than doubled in the past day.
However, while CWIF makes headlines, a new project called Sealana (SEAL) is also turning heads after its presale passed the $250,000 funding milestone in just one week.
Catwifhat Dominates Meme Coin Market with 163% Pump
catwifhat has been the latest meme coin to catch fire.
In the past 24 hours, this cat-themed token has rocketed by 163% and is currently trading around $0.000000971.
CWIF’s rise is even more impressive considering the token has no real utility or use case.
Instead, it’s a pure meme-based project piggybacking off the hype around dogwifhat (WIF).
But the numbers don’t lie – spot trading volumes have spiked 190% to $7.4 million as “degen” traders pile in.
One theory for why catwifhat has spiked is the project’s aggressive token burn mechanics that are squeezing the supply.
Out of the initial 77 trillion CWIF tokens, over 53% have already been destroyed.
This amounts to around 26 billion per day – or 182 billion each week.
Since CWIF is now one of the top meme coin gainers this week, speculation is ramping up that the token might be in line for further CEX listings.
CWIF is currently only available on two CEXs – LBank and Poloniex – so a listing on another major platform could fuel further gains.
Meme Mania Cools as Traders Take Profits
While catwifhat is doing well, the broader meme coin market is actually painting a different picture today.
Most other meme-themed tokens are deep in the red, making CWIF’s pump stand out even more.
The overall meme coin market cap has dropped around 2% over the past 24 hours to $53 billion.
Spot trading volumes are also down 1% to $5.1 billion – indicating a pullback in speculative buying.
Major players like DOGE, SHIB, PEPE, and WIF are all nursing losses on the day.
However, one of the hardest hit is PUPS, which has plunged 15% during the ongoing sell-off.
Apart from catwifhat, only a couple of meme coins like APU and ERC20 are managing to stay in the green.
Most believe this downturn is simply a natural cooling-off period after the bullishness of the past few days.
Bitcoin has also pulled back by 3% from yesterday’s high, so meme coins may be following the flagship crypto’s lead.
Whatever the reason, today’s bearishness is another reminder of the volatility in the space.
New SOL Presale to Watch: Sealana Passes $250K Milestone
Despite the bearishness, another meme coin project that’s performing well alongside catwifhat is Sealana (SEAL).
Earlier today, Sealana’s presale funding blew past the $250,000 milestone amidst the meme coin sell-off.
Numerous factors seem to be playing into the positivity around SEAL.
For one, the development team is building a passionate online community around memes and pop culture.
Sealana’s Twitter already has over 800 followers in just a week since its launch.
Its Telegram group has also attracted hundreds of members through constant viral images and crypto trading debates.
Sealana is even starting to receive attention from some of the biggest names in the influencer space.
YouTuber ClayBro gave it a shoutout earlier this week, yet the most significant endorsement came from Jacob Bury, who described it as “the next BONK.”
The project’s fundamentals seem to be lining up, too.
Combining these elements, it’s no surprise that Sealana’s presale has been such a hit.
So, although SEAL has no use case and is designed purely for speculation, it could be a token worth watching for those into high-risk, high-reward meme coin plays.
