CATS Price Surged 690% Earlier In The Day: What’s Pushing This Rally?

CATS price had its biggest rallies earlier in the day. It witnessed a 690% surge despite the slower pace of the crypto market, shocking the investors who missed out on this token. CATS is a popular cat-themed coin in the market, which is new yet in demand after its competitors, like DOGS, became popular. However, this price rally has not sustained throughout the day and has slowed down on the charts, but the earlier gains of this meme coin are still relevant.

Why CATS Price Surged 690% Today

CATS is one of the most popular meme coins, and it is primarily based on the TON blockchain. However, despite the demand, the token had slower days until today to exhibit its best performance. As a result, the CATS price surged 690% earlier in the day, growing to the ATH of $0.0007238 with $106063.21 in trading volume, explaining this token’s high demand.

On further analyzing the charts, the trading volume has increased 13-fold within a few hours and is still high. This surge was the result of the many popular crypto exchanges that began listing the token. It includes the listing on the Bybit, KuCoin, Bitget, Haskey, and many others.

💥World Premiere💥

📢 New Listing@Cats_telegram $CATS Gets Listed on #KuCoin!

💎Pair: CATS/USDT
💎Deposit: now open (network: TON-Jetton)
💎Trading: 10:00 on October 8, 2024 (UTC)

— KuCoin (@kucoincom) October 4, 2024

Additionally, its connection with Telegram is continuously boosting this token among investors. In the last few months, Telegram-based game tokens, especially meme coins have been continuously trending and grabbing investors’ attention. It includes the popular Hamster Kombat game, which has bagged more than 300M users within a few months.

However, the HMSTR price is still struggling and is below the $0.1 mark, disappointing many. This token is down on charts after its airdrop went live, causing high volatility issues. The same might come true for the CATS token price, as the CATS airdrop Season 2 has already been announced, and the first one is in progress.

Will The CATS Price Rally Sustain?

CATS price rally peaked around 11 hours ago, as it grew from $0.00014141 to $0.0007238 within a few hours. However, this rally has long passed as the price has been down by 84% ever since then. Moreover, at the time of reporting, CATS is trading at $0.0000814 and is continuously moving downwards following a high selling pressure on the token.

It is presently at the lowest point of the day, losing all the gains after the volatility surrounding the token as the game players began withdrawing their Season 1 airdrop tokens. This sudden drop after the heavy gains is much more disappointing as the holders had high expectations.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.