3 Robinhood Chain Tokens Rallying the Most This Week: FOX, CASHCAT, HOODIE
Highlights
- Robinhood Chain meme coins are outperforming the broader crypto market with massive gains.
- The biggest gainers on the network are FOX, HOODIE and CASHCAT.
- CASHCAT is the biggest meme coin on the chain with a $188M market cap.
The Robinhood Chain that launched on July 1 has seen more than $1 billion in cumulative DEX volumes, with these numbers coming largely from meme coins created on the network. The three tokens created on Robinhood Chain that have rallied the most this week include FOX, HOODIE, and CASHCAT.
FOX Meme Coin Soars 22,500% as Robinhood Chain Volumes Hit Record Highs
Robinhood Chain has surpassed Hyperliquid in volumes, and one of the meme coins that is driving this surge is the FOX meme coin.
Data from DEXScreener shows that the FOX meme coin has gained by 22,500% today, July 11, to trade at $0.00061 at the time of writing.
But FOX remains one of the low-market-cap tokens on Robinhood Chain because its market cap stood at $624,000 at the time of writing.
The one-hour chart shows that the FOX meme coin reached an all-time high of $0.000655 on July 11 after starting trading at a price of $0.00000276.
But the RSI of 68 shows that despite the price gaining by 22,500%, FOX meme is still not overbought, and could extend the rally.
CASHCAT Meme Coin Dominates After 2,900% Rally
CASHCAT is now the biggest meme coin on Robinhood Chain with a market cap of $188 million. This is nearly 75% of the entire market cap of $231 million of meme coins created on Robinhood Chain per CoinGecko data.
The CASHCAT meme token has moved from $0.010 on July 7 to $0.20 on July 11. The volume bars that have been green for four straight days suggest that this rise is coming from high buying pressure.
CASHCAT reached an all-time high of $0.21 on July 11, suggesting that it has gained by 12,500% from its all-time low of $0.0016 on July 1.
This Robinhood Chain meme token faces resistance at $0.21. If it closes above this obstacle, the price will target the next psychological price of $0.30.
But a move below $0.10 could cause panic selling, and CASHCAT could drop to the June 8 low of $0.07.
HOODIE Meme Coin Surges 1,000%, Emerges as Second Biggest Robinhood Chain Meme Token
The HOODIE meme coin is up by 1,200% today, July 11, to trade at $0.031 at the time of writing.
These gains have pushed the market cap of HOODIE to $31 million, making it the second-biggest meme coin on Robinhood Chain.
HOODIE has seen $57 million in volume today, July 11, due to high buying pressure.
HOODIE reached an all-time high of $0.040 on July 11, after jumping from $0.00057 on July 10.
Can Robinhood Chain Meme Coins Sustain Their Gains?
Robinhood Chain meme coins are rising after Robinhood’s CEO, Vlad Tenev, mentioned that the network “works great for memes too,” with the statement causing a rise in buying pressure.
Since making this X post, the biggest token on Robinhood Chain, CASHCAT, has gained by 2,800%. But such gains usually point towards a euphoria-driven buying activity by traders.
The meme coins created on Robinhood Chain have not stated that they have utility that can give value to buyers.
If the hype fades and buyers become exhausted, the meme coins could start dropping.
However, if this meme coin hype meets a bullish market sentiment, the meme coins could cool off and start a healthy uptrend that is more sustainable.
Frequently Asked Questions (FAQs)
1. Why are Robinhood Chain meme coins rising?
2. Which is the biggest meme coin on Robinhood Chain?
3. Can Robinhood Chain meme coins sustain their gains?
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