In a surprising turn of events, the new memecoin, Cult, has surpassed its initial value of over $600 million within hours of its launch, shaking up the competition within the memecoin ecosystem. Another memecoin, MOG, has taken the title of the largest cat-themed memecoin in terms of market capitalization, surpassing POPCAT.

Cult’s Exceptional Launch

Cult, an Ethereum-based memecoin, made its debut on December 5, reaching an initial fully diluted valuation peak of $845 million and then stabilizing at approximately $630 million. Fully Diluted Valuation (FDV) represents the value of the total supply of a crypto project if all of its tokens were in circulation in the market, helping investors gauge the health of a project.

Remilia Corporation, the makers of the Milady Maker NFT collection, had been making cryptic social media teases for months before the token’s launch. According to Charlotte Fang, a leader at Remilia Corporation, the Cult token is not just monetary but also an ideologically driven ecosystem. She called it “fundamentally different.”

The Cult token has structured the token to emphasize long-term community engagement, after raising $20.5 million in pre-sale funds. The token was recently listed on OX.FUN, allowing users to trade it with up to 10x leverage.

MOG Token Takes Over POPCAT

MOG, a memecoin that originated from cat memes, has overtaken POPCAT in market cap at $1.46 billion, making it the largest token in the cat-coin category.

According to CoinMarketCap, around 64.26% of investors have balances ranging from $0-$1k, with significant growth of $100k of 2.49% brackets, suggesting broad appeal to retail and big investors alike. A balanced distribution of whales makes up 23.88% of the supply, while smaller holders hold 76.12%, reflecting high confidence in the token.

Investor Participation and Market Trends

The growth rate among mid-term investors stands at 64.4%, traders at 28.65%, and long-term investors at 6.91%. Even as activity increases, transaction fees remain low, which helps ensure that trading and liquidity are efficient.

The overall trend of MOG is reflected in its increasing market capitalization, balanced investor participation across all levels, and increased market engagement. The emergence of memecoins like Cult and MOG shows the increase of memecoins as investment vehicles for community-based ecosystems, despite their inherent volatility and risk.

For more news on the latest cryptocurrency trends and updates, visit Global Crypto News.

Post Views: 2