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Simon’s Cat (CAT) Price Skyrockets Amid Major Exchanges Backing, Rally To Sustain?

Simon’s Cat price jumped 45% this week and 8% in the last 24 hours on the back of support from top crypto exchanges.
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Simon’s Cat (CAT) Price Skyrockets Amid Major Exchanges Backing, Rally To Sustain?

Highlights

  • Simon’s Cat price increased 45% this week and over 8% today.
  • This comes after major listings from top crypto exchanges.
  • Holders anticipate further price gains citing positive sentiments.

Popular meme coin Simon’s Cat has recorded a huge price upswing following backing from major crypto exchanges. The asset’s price is up 45% this week and over 8% in the last 24 hours. This huge jump in value comes with an increased market sentiment as most tokens swing upwards. 

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Simon’s Cat Jumps Following Major Listings

Top crypto exchanges have backed the high-flying token sparking a surge in its price. Bybit announced support for the token by announcing a new perpetual contract listing. The platform disclosed that users could trade up to 12.5 leverage with many around industry quarters lauding the move. 

https://twitter.com/Bybit_Official/status/1834580316612067341?ref_src=twsrc%5Etfw” rel=”nofollow

Listings and other support from crypto exchanges have a positive impact on asset prices due to trading volumes among other factors. Traditionally, meme coins rally on the heels of these developments because the community and holders move off its mainstream adoption. Derivative exchange, Phemex listed POL and CAT as USDT-margined spot trading pairs.

Dear users… At 10:00 UTC on September 13, 2024, Phemex will list the new spot trading pair POL/USDT, and at 12:00 UTC CAT/USDT will be listed.”

Furthermore, HTX added Simon’s Cat perpetual futures with 50X leverage for trades. The exchange noted the asset can adjust the parameters in response to risk and fluctuations. CoinEx Global announced that top traders of CAT will share a $4,500 prize pool. The asset remained among crypto gainers last week following bullish drivers. 

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CAT Price Spikes 

CAT price surge continues to attract bullish holders to the assets. This week, the asset soared 45% with several analysts pointing to the meme coin frenzy in Q1 when tokens pulled similar numbers. At press time, Simon’s Cat trades at $0.0000342, moving up 8% in the last 24 hours. 

CAT price surge is expected to cool like other meme coin highs in the long run coupled with wider crypto sentiments. A cut in policy rates would also affect inflows to the asset. Despite this, holders tip more growth for the asset. On-chain factors also place CAT price projection at a better spot than DOGS despite its low popularity.

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David Pokima

David is a finance news contributor with 4 years of experience in Blockchain Technology and Cryptocurrencies. He is interested in learning about emerging technologies and has an eye for breaking news. Staying updated with trends, David reported in several niches including regulation, partnerships, crypto assets, stocks, NFTs, etc. Away from the financial markets, David goes cycling and horse riding.

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Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
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