Despite the bearish trends in Bitcoin and other major cryptocurrencies, the Solana meme coin Catwifhat (CWIF) is defying the odds with its recent surge.

Catwifhat, a feline-themed counterpart to the popular Solana meme coin Dogwifhat, has experienced a significant uptick in its value. Today, the coin has seen a 42% increase, reaching $0.00000082 after a 60% rise in trading volume. Data from CoinMarketCap shows that Catwifhat now boasts a market capitalization of $30 million.

The impressive growth of Dogwifhat, which reached a peak valuation of $4.8 billion, has left a lasting impression on investors. As the top Solana meme coin, Dogwifhat established a strong correlation with Solana, one of the leading cryptocurrencies in the current bull market. Now, Catwifhat seems to be following a similar trajectory, experiencing a 400% surge in the past week while maintaining a market cap of $30 million.

Although Catwifhat’s market cap is currently a fraction of Dogwifhat’s peak value, the coin continues to receive significant support that enhances its value.

Recently, Catwifhat perpetual futures were launched on BitMart, providing investors with a new trading opportunity. Additionally, Catwifhat’s market cap and circulating supply are now verified by SolanaFM, CoinMarketCap, Solscan, and CoinGecko. The coin is also trending on platforms like DEXTools and Bireye.

Furthermore, Catwifhat’s X account and its supporters are pushing for KuCoin to list the meme coin on its exchange, indicating growing interest and demand for the token.

The recent surge in the Solana-based meme coin market coincides with Franklin Templeton’s recognition of Solana’s potential to become the third-largest cryptocurrency in the market. The asset management firm’s acknowledgment of Solana’s scalability and low transaction fees has made it an attractive option for meme tokens like Catwifhat, as well as other prominent tokens such as BONK and WIF, which have maintained their position among the top 100 cryptocurrencies by market valuation.

The meme coin frenzy has led to the launch of over 138 tokens in April, indicating a growing interest in this dynamic field.

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