MOG Outshines Memecoins as Cult Launches with $845M FDV
The post MOG Outshines Memecoins as Cult Launches with $845M FDV appeared on BitcoinEthereumNews.com.
Cult, a new memecoin, surpassed its initial value of over $600 million within hours of its launch. The competition within the memecoin ecosystem has been further shaken up by MOG, which now holds the title of the largest cat-themed memecoin in terms of market capitalization, surpassing POPCAT. Dexscreener reported that Cult, an Ethereum-based memecoin, made its debut on Dec. 5, with the coin reaching an initial fully diluted valuation peak of $845 million and then stabilizing at approximately $630 million. FDV represents the value of the total supply of a crypto project if all of its tokens were in circulation in the market, helping investors gauge the health of a project. Similarly, Mogcoin (MOG), a memecoin that originated from cat memes, overtook Popcat (POPCAT) in market cap at $1.46 billion. This makes it the largest token in the cat-coin category. Cult’s launch Remilia Corporation, the makers of the Milady Maker NFT collection, had been making cryptic social media teases for months before the token’s launch. According to Charlotte Fang, a leader at Remilia Corporation, the Cult token is not just monetary but also an ideologically driven ecosystem. She called it “fundamentally different.” The extraordinary event comes on the heels of the ICO’s having raised $20.5 million in pre-sale funds; the team has structured the token to emphasize long-term community engagement. Cult memecoin listed on OX.FUN, retweeted by Charlotte Fang. MOG token takes over POPCAT As per CoinMarketcap, around 64.26% of investors have balances ranging from $0-$1k, with significant growth of $100k of 2.49% brackets, suggesting broad appeal to retail and big investor alikeness. A balanced distribution of whales makes up 23.88% of the supply, while smaller holders hold 76.12%, reflecting high confidence in the token. In addition, the growth rate among mid-term investors stands at 64.4%, traders at 28.65%, and long-term…
Filed under: News - @ December 9, 2024 1:27 pm