The post Simon’s Cat Token Eyes Solana Expansion for Major Growth appeared on BitcoinEthereumNews.com.

Key Points: Simon’s Cat Token (CAT) expands to the Solana blockchain, aiming to capture the growing memecoin market. The move leverages Solana’s high-speed and low-cost network, popular among retail traders and memecoin enthusiasts. Simon’s Cat Token expands to Solana, seeking to capitalize on the booming memecoin market with a strategic move to capture new retail traders. Simon’s Cat Token Expands to Solana Amid Memecoin Craze Simon’s Cat Token (CAT), a licensed memecoin based on the popular internet cartoon “Simon’s Cat,” is making a strategic move to the Solana blockchain. This expansion aims to leverage Solana’s growing user base, particularly its memecoin enthusiasts, to capture new market share and drive adoption. The expansion aligns with CAT’s goal of reaching broader audiences, especially those already engaged in Solana’s active trading environment. Long-term supporters of BONK, a notable Solana-based dog-themed memecoin, are being offered an exclusive opportunity to gain early access to CAT. This promotion includes a special vault for BONK holders, allowing them to purchase up to $100,000 worth of CAT at a discounted price before the official launch. As of the Asian morning hours, the vault has seen significant interest, with over $240,000 worth of stablecoins locked in, surpassing the initial target, data shows. Read more: Solana DEX Trading Volume Hits $5B Daily for Three Straight Days Solana’s Memecoin Frenzy Drives CAT’s Expansion Solana has become a hotspot for memecoins, with increasing trading volumes and token issuances that create a strong demand loop for SOL. This trend has seen Solana outpace other blockchains in memecoin activity. According to DefiLlama, Solana recorded $91,78 million in fees in October and achieved over $70,3 billion in on-chain volume, a notable increase from its previous records. In contrast, other popular blockchains like Ethereum, BNB Chain, and Tron did not see comparable surges in activity, signaling…

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Filed under: News - @ November 18, 2024 8:22 am