Meme Coin Revival as These Cat-Themed Tokens Lead the Rally: Details

TL;DR

The meme coin market saw a strong recovery on September 10, with significant gains from tokens like DOGE, SHIB, POPCAT, and KOIN.
Neiro (NEIRO) jumped 450% weekly after being listed on Binance and other leading crypto exchanges.

A Green Day at Last

The meme coin sector suffered painful losses in the past several days, with its market capitalization briefly plunging below $40 billion at one point. However, the landscape looks completely different today (September 10), with numerous tokens charting substantial gains.

The leading meme coin, Dogecoin (DOGE), hit a two-week high after surpassing $0.10, whereas its biggest rival, Shiba Inu (SHIB), saw its price rise by 2% daily.

Those stealing the show are certain cat-themed memes like Popcat (POPCAT) and Kittekoin (KOIN). The former jumped by 15% in the last 24 hours, while the latter tapped a new all-time high of almost $0.25 after skyrocketing by over 80%. KOIN lost some of the gains in the following hours, currently trading at around $0.18 (per CoinGecko’s data).

Other well-performing meme coins include BRETT (+6%), DOGS (+8.5%), PEOPLE (+16%), SUNDOG (+20%), and many more. 

NEIRO Keeps Progressing

The recently launched dog-themed meme coin Neiro on ETH (NEIRO) also found a spot among the biggest gainers. Its price surged by 15% in the last 24 hours, reaching $0.18 for the first time since mid-August. 

Its resurgence happened shortly after an interaction with Binance. Specifically, the exchange launched a USDT-margined NEIRO/ETH perpetual contract with up to 75x leverage.

This type of product enables users to bet on the price changes of the underlying digital assets without actually owning them. The contract offers high leverage, does not have a set end date, and requires traders to maintain a specific margin to keep their positions open.

Earlier this week, Crypto.com and OKX hopped on the bandwagon, too. The former allowed deposits and withdrawals of NEIRO/ETH via ERC-20, while the latter added NEIRO/ETH on its perpetual futures market.

The meme coin is up an impressive 450% on a weekly scale, with its 24-hour trading volume surpassing that of higher-ranked memes like BRETT, TURBO, MOG, and others.

Crypto X is full of analysts envisioning a further rally for NEIRO. Johny – an X user with almost 700,000 followers – thinks the current price zone of $0.18 is the last resistance before a spike to a new ATH. For their part, MoneyLord believes NEIRO could repeat WIF’s success witnessed earlier this year:

You blink and $NEIRO will be at 300m

When its breaks out from here

Im expecting similar to what $WIF done

From 160m to 4.5B in 28 days@NeiroOnEthereum pic.twitter.com/WWJbY1bipz

— MoneyLord (@moneyl0rd) September 9, 2024