Solana-Based Meme Token 'Cat in a Dogs World” (MEW) Skyrockets Following Listing on South Korean Exchange Upbit

The token's value surged over 10%, reaching an all-time high of $0.010. This rally occurred after the introduction of the Korean Won (KRW) trading pair

Solana-based meme token “Cat in a Dogs World” (MEW) has seen its value skyrocket following the recent addition of the Korean Won (KRW) trading pair on major South Korean exchange Upbit.

The token's value surged by over 10% to reach a new all-time high of $0.010. Prior to this development, MEW was already tradable on Upbit against BTC and USDT, and the token saw an earlier rally but failed to break through its previous high of $0.0097.

As evident from the latest price movements, the introduction of the KRW trading pair on Upbit has enabled MEW to finally break through these barriers and reach a new high.

The recent surge in MEW's price has been accompanied by a sharp increase in its trading volume, which surpassed $200 million, indicating strong interest from the market in the token’s price movements.

According to data from Santiment, the token's volume soared during this rally, which is generally seen as a positive sign for continued upward momentum.

Higher volume usually reflects the fact that more buyers and sellers are participating in trading the asset, which is in line with the existing trend. However, some analysts are still concerned.

When both volume and price rise, this is regarded as a positive signal of a bullish market. However, when price rises and volume declines, this may indicate that the upward movement is losing steam.

MEW has gained immense attention through this new KRW trading pair, joining a select list of meme coins such as DOGE and SHIB that are also paired with KRW on Upbit.

As MEW's price continues to ascend, a glance at the technical analysis suggests that the token may be due for a temporary retracement. The Bollinger Bands of MEW's daily chart have been widening, indicating increased volatility.

Owing to the fact that MEW is currently trading close to the upper Bollinger Band, the token may be considered overbought and therefore prone to some correction.

The Relative Strength Index (RSI), a momentum indicator, is also in the overbought area, suggesting that there might be a slight pull back.

Through market trends, MEW may likely find its support at $0.0089, which is close to the 23.6% Fibonacci retracement level. If MEW stays above the middle line of the Bollinger Bands, the upward movement may continue and MEW can climb up to $0.012.

Such scenarios depend heavily on sustained volume and momentum in the coming days. Notably, the listing of MEW as a KRW trading pair on Upbit also positions the token among other well-known meme coins in the market.

It becomes only the third meme coin, following DOGE and SHIB, to be paired with KRW, signaling broader adoption and interest within the South Korean market. This development is expected to attract both retail and institutional investors, adding to the coin’s growing popularity in the meme coin sector.

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