CATS Token Price Skyrockets to 690% in a Day, Leaving Many Investors Feeling Left Behind

CATS is one of the popular meme coins based on blockchain TON (The Open Network). Previously, this token moved slowly until it finally recorded its best

The price of CATS token, a cat-themed meme coin, soared 690% in a day. Even though the crypto market tends to be sluggish, this surge has made many investors bite their fingers. Even though this increase did not last long, the initial advantage of this coin still attracted the attention of many parties.

CATS is one of the popular meme coins built on the TON (The Open Network) blockchain. Previously, the movement of this token was considered sluggish until it finally recorded its best performance within one day. The price of CATS soared 690%, reaching its highest level at US$0.007238 (around IDR 111.6) with trading volume reaching US$106,063.21 (around IDR 1.63 billion). This increase shows a surge in demand for the token.

Information gathered by Coingape, one of the main factors behind this surge is the number of leading crypto exchanges that have started trading CATS tokens. Exchanges such as Bybit, KuCoin, Bitget, and Haskey are some of the platforms that have registered these tokens. The news of the listing on the exchange immediately triggered an increase in trading volume up to 13 times in just a matter of hours.

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Apart from that, CATS's close relationship with Telegram also influences its popularity. In recent months, game tokens on the Telegram platform, especially meme coins, have continued to attract investor interest. One of them is the Hamster Kombat token which has managed to attract more than 300 million users in a few months. However, the price of the HMSTR (Hamster Kombat) token is still fluctuating and has not yet reached US$0.1 (around Rp. 1,541), making many investors bite their fingers.

The surge in CATS prices reached its peak around 11 hours ago, where the price soared from US$0.0014141 (around Rp. 21.8) to US$0.0007238 (around Rp. 111.6) in a matter of hours. However, after reaching its peak, the price fell again by 84%. At the time of writing, CATS is trading at US$0.000814 (around IDR 12.5), where high selling pressure is still pushing the price downwards.

This price plunge was largely due to gamers starting to withdraw their airdrop tokens from Season 1. Although Season 2 of the CATS airdrop program had been announced, the sharp drop after this huge spike disappointed many token holders who had high expectations.

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