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- MEW token reaches a $1B market cap after breaking its all-time excessive.
- Solana sees a 17% worth soar amid rising MEW quantity and staking exercise.
- MEW token listed on Bitstamp with EUR and USD buying and selling pairs.
The cat-themed MEW coin has soared to new heights, breaking its all-time excessive and exceeding a $1 billion market cap. This milestone follows Bitstamp’s announcement to record MEW buying and selling pairs like MEW/USD and MEW/EUR. As well as, Korea’s high alternate, Upbit, reported increased MEW quantity than Bitcoin, exhibiting the rising recognition of this meme coin.
Market specialists are enthusiastic about MEW’s potential, given its constant uptrend since its launch. Some analysts predict parabolic strikes within the coming days, with a goal worth of $0.045. Nevertheless, others warning FOMO consumers, warning {that a} potential reversal might entice these late to the sport.
Decentralized Platform Assist Fuels MEW’s Rise
MEW’s progress is pushed by rising assist from decentralized platforms. Drift Protocol, constructed on Solana, has added perpetual futures buying and selling for MEW with as much as 4x leverage. This follows different platforms itemizing MEW perpetuals, together with Kwenta and Synthetix on Base, which launched on October 22. These listings and the thrill round meme cash have contributed to the worth surge.
The Solana community can also be experiencing progress. SOL’s worth has elevated by 17% over the previous week, partly resulting from large-scale staking exercise. For instance, a brand new pockets lately withdrew 150k SOL (value about $26 million) from Binance and staked it, exhibiting confidence in Solana’s future.
Learn additionally :Solana Worth Evaluation: SOL Breaks Above $170, Defying Bears
The fifth-largest altcoin continues to carry out effectively, exceeding expectations. After a pointy decline on October twenty third, SOL has rebounded, demonstrating how market sentiment might be inaccurate.
Whereas MEW’s speedy rise is attracting consideration, it additionally raises questions on its long-term prospects. Some merchants are shorting the token, evaluating it to different meme cash that skilled speedy reversals. Traders ought to look ahead to indicators of a market correction whereas contemplating the potential of each Solana and MEW.
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