Cat in a Dogs World （MEW） expands its reach beyond a meme token by joining the DeFi space through a lending program with WhiteBit. This article explores MEW’s growth and its impact on the market.
Points
- MEW becomes part of a new lending project through WhiteBit.
- The token is highly active on various exchanges, with significant trading volumes.
- MEW’s market cap has reached $588 million.
- The token’s popularity is driven by its unique positioning among cat meme cryptocurrencies.
Cat in a Dogs World （MEW） is expanding its influence beyond what is usual for a meme token by joining the DeFi space through a new lending project with WhiteBit. This strategic move allows MEW holders to deposit their tokens and earn passive income, further enhancing the token’s utility and appeal.
WhiteBit has also launched a bounty program, offering 6 million MEW to 250 winners. This initiative aims to boost community engagement and increase the token’s visibility. The bounty program is active until August 12 and requires participants to create new accounts and complete full KYC.
MEW’s Trading Activity and Market Presence
MEW has shown impressive trading activity, particularly on platforms like Gate.IO, which accounts for 39% of its trading volume. The token also has a significant share of Korean won trading on Bithumb, highlighting its popularity in different regions. During its latest rally, MEW changed its trading profile to a new set of leading exchanges, demonstrating its adaptability and growing market presence.
A new project-based Crypto Lending plan for $MEW supported by @MewsWorld: deposit from 7,000 to 409,000 $MEW at 1.5% for 30 days: https://t.co/mBUk0S5xCpMEW has experienced four significant rallies since its launch, with the most recent one pushing its market cap to $588 million. The token is held in more than 180,000 wallets, indicating a strong and growing community.
Is MEW a ‘Cabal Coin’?
Despite its success, MEW has faced some controversy. It has been called a ‘cabal coin’ due to the influence of special interest groups. However, MEW has continued to grow, particularly after being listed on exchanges like OKX and maintaining high activity on Raydium, with over $41 million in liquidity.
https://twitter.com/WhiteBit/status/1817924380212556180
As of July, MEW traded at $0.006, close to its higher range for the past month. Increased activity took MEW to a temporary peak of $0.0085, with trading volumes breaking above $300 million in a day for the first time in two months.
Important: This article is for informational purposes only and should not be taken as legal, tax, investment, financial, or any other type of advice.
解説
- MEW’s integration into the DeFi space through WhiteBit’s lending program enhances its utility and market presence.
- The token’s significant trading volumes and market cap highlight its popularity and potential.
- Despite facing some controversy, MEW continues to grow and attract a strong community.
- Strategic initiatives like bounty programs and exchange listings are crucial for sustaining growth and engagement.