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Wednesday, May 25, 2022

What is Catcoin crypto & why its price is skyrocketing?

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The price of Catcoin crypto (CATS) has skyrocketed in the last 24 hours, and at the time of writing, it was up over 600 per cent to US$ 0.000000001607 per token.

Experiencing a massive trading activity, the Catcoin crypto’s one-day volume catapulted over 2500 per cent to $550,538.

On Wednesday, February 16, the cryptocurrency market was trading in the green, and the global cryptocurrency market cap was up 2.1 per cent in the last 24 hours. At the time of drafting, the global market cap was $2.08 trillion.

Since the past few years, the crypto market has witnessed a rise in meme coins, which are cryptocurrencies originating from a meme or having some humorous characteristic.

Meme coins like Dogecoin and Shiba Inu appear quite popular among cryptocurrency enthusiasts and have given massive returns to holders.

Also Read: Why did Larry David and LeBron James feature in Super Bowl crypto ads?

It is probably because the popularity of such meme-based cryptocurrencies has increased in the recent past. On that note, let’s find out more about Catcoin crypto.

What is Catcoin crypto?

Catcoin was reportedly launched in November 2021 by Miaoshi Nekomoto as a community-driven token. The cryptocurrency is based on a meme with a dream of creating an entire ecosystem for cat lovers.

Catcoin crypto offers live streams on Twitch and is probably the first crypto-related project to do so. This feature allows the community to share their views about Catcoin at any time.

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The price surge in Catcoin crypto could be due to its addition in the list of top best-performing coins by CoinGecko. Catcoin is featured in the list along with coins like Saitoki Inu, Celestial Unity, and Robot warriors.

According to reports, Catcoin is focused on the Catnip project, an encrypted platform that allows users to create a secure identity and send CATS anywhere in the world.

Bottom line

The cryptocurrency market is highly volatile, and investors should exercise caution before investing in new cryptocurrency projects.

Catcoin is a relatively new project, and if you are interested in this virtual asset, you must do your research before investing.

Also Read: What is Mina crypto? Know its price prediction

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