Following significant news from the South Korean crypto exchange Upbit, the Solana-based meme currency, cat in a Dogs World, saw an apparent price increase
The Upbit announcement indicates that the exchange will list the cat in a canine’s world at 10:00 UTC today. Only the Solana network will be supported for transactions, and MEW will be transacted in the Bitcoin and Tether markets.
The prominent Korean exchange’s listing statement rapidly increased MEW, with a daily trading volume of approximately $2.5 billion. After experiencing a 26% increase in the previous 24 hours, the meme coin is currently trading at $0.0054 at the time of this writing.
Additionally, with a market capitalization of $480 million, MEW is presently the fourth-largest meme coin on Solana. The 24-hour trading volume of the asset also increased by 230%, reaching $144 million.
To name a few, MEW was launched in March and has already been listed on prominent centralized crypto exchanges, such as OKX, Bybit, HTX, and KuCoin.
The meme coin has entered the overbought zone due to the abrupt surge. The MEW Relative Strength Index is currently at 85, a significant increase from the 22 it was at yesterday, according to data from crypto.news.
The hasty accumulation may have significantly affected MEW’s increasing RSI. Conversely, it appears that short-term speculators are already making profits.
Last week, Nervos Network experienced a comparable price increase subsequent to Upbit’s listing. Within one week of the announcement, CKB experienced a 111% increase in value.