Smaller meme coins surge as crypto rally spreads to animal-themed tokens

Animal-themed meme coins lead crypto rally gains

Smaller cryptocurrencies tied to internet jokes about cats and dogs have surged in the past week, with some doubling in value. This follows a broader rally in the crypto market, where traders are taking bigger risks.

Cash Cat, a token on the Robinhood blockchain, jumped 51% in one day and 113% over the past week. Other animal-themed tokens, like Thinking Cat and Dog (Bitcoin), also saw large gains, rising between 50% and 130% in the same period.

Even well-known meme coins like Dogecoin and Shiba Inu rose, though less sharply, with gains of about 30% over seven days.

Key numbers from the rally

• Cash Cat: 51% gain in 24 hours, 113% in a week, 345% in 30 days.
• Thinking Cat: 131% gain in a week.
• Dog (Bitcoin): Nearly doubled in a week.
• Dogecoin and Shiba Inu: Around 30% gain in a week.
• Crypto Fear & Greed Index: Rose to 75 from 30 in a week, showing increased speculative trading.

What are meme coins?

Meme coins are cryptocurrencies created around internet jokes or online communities rather than a business or financial product. Their prices often rise quickly when traders are willing to take more risks. Smaller meme coins can see bigger price swings because fewer people trade them, making their prices more volatile.

Why smaller coins are more volatile

Cash Cat, for example, had about $80 million in trading volume over 24 hours, which is high compared to its $215 million market value. This means a small number of trades can cause big price changes. While this can lead to quick gains, it can also result in sharp losses if traders start selling.

What the Fear & Greed Index shows

The Crypto Fear & Greed Index measures how traders feel about the market. A score of 75, as seen recently, suggests high optimism and risk-taking. However, the index does not predict future price movements—it only reflects current sentiment.

Sources

• CoinDesk