- YouTube cartoon series-inspired Simonโs Cat (CAT) took off a month ago.
- The BNB-based CAT picked up nearly 250% gains since KuCoin listing.
- The projectโs description claims affiliation with the authors of the show.
Simonโs Cat (CAT), the chubby cartoon character from the British animated series of the same name, entered the blockchain realm over a month ago. The always hungry cat turned into a meme thanks to its creator Simon Tofield, as the YouTube series garnered over 1.6 billion views on Simonโs Catโs official YouTube channel.
CAT Continues Quest For Food On-Chain
The CAT coin took the bull for its first ride on August 20, 2024, when KuCoin announced that it was listing Simonโs Cat on Spot offerings. The new meme coin has created a buzz in the crypto scene, as CAT recently entered price discovery, hitting an all-time high on September 21, 2024 at $0.00004624. Since then, CAT retraced 16.9%, but is still looking strong in monthly terms with a 40% upswing.
Four days into the ATH milestone, Simonโs Cat is looking hungry again, as several signs point to large players being back in the CAT accumulation phase. For one, the Chaikin Money Flow (CMF) is dwelling at 0.07 on the 1-day charts, indicating a rising inflow signal. Secondly, the Relative Strength Index (RSI) is hovering around 40 to 41 in the 1-hour charts, inspiring bullish momentum due to an oversold position.
Simonโs Cat To Scrape Up Binance Listing?
Diving into the feline meme coinโs tokenomics, DailyCoin has established that thereโs a huge supply of 9T CAT tokens, with nearly 1T being burned. After deducting the tokens vested in Simonโs Cat Foundation and Simonโs Cat Treasury, thereโs 6.749T CAT tokens in circulation overall.
At a $260 market capitalization, CAT trading on KuCoin only accounts for 3%. Meanwhile, the cat-themed meme coin is very popular on PancakeSwap, representing 12% of the daily CAT trades. Centralized exchanges like HTX, MEXC and BitMart also take a considerable 26% of CATโs trading volume.
Upon launch, CAT was airdropped to Floki Token (FLOKI) holders on Binance, for anyone holding at least 400,000 FLOKI coins.
The snapshot happened on August 29, 2024, 23:59:59 UTC, when Binance users received proportionally distributed tokens according to FLOKI holders, seeding optimism among the growing Simonโs Cat community about an imminent listing on Binance.
On the Flipside
- Simonโs Cat coinโs official X handle has already amassed over 153K followers on X, using an identical image to the original YouTube animated series account with 465.7K.
- While this could imply copyright issues, Simonโs Catโs Bybit project description asserts that the token is managed by the creator of the Simonโs Cat TV & book series.
Why This Matters
Internet culture and blockchain technology often amplify each otherโs potential, as seen in the numerous adoption cases with mainstream meme coins like Shiba Inu (SHIB), Pepe Token (PEPE) & Dogecoin (DOGE).
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