CATS Price Surged 690% Today: Why and Will The Rally Sustain?

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

CATS price had its biggest rallies earlier in the day as it witnessed a 690% surge, leaving investors who missed out on this token behind as it moved at a slower pace in the crypto market. Being a cat-themed coin, CATS gained huge popularity in the market as a new token, especially after the booming success of its competitor token, DOGS. However, this price rally did not sustain throughout the day and slowed down on the charts, but the earlier gains of this meme coin are still relevant.

Why CATS Price Surged 690% Today

Being one of the most popular meme coins, CATS is primarily built on the TON blockchain. However, the token had slower days despite the demand to exhibit its best performance until today. 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 analysis of the charts, the trading volume increased 13-fold within a few hours and is still high. This surge was also a 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

Moreover, 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?

The 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. Furthermore, 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.

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