Recently, a “Cat King Battle” unfolded in the Meme Coin market. POPCAT and Shark Cat (SC) faced FUD from Cat Coin users due to IP copyright issues with their logos. However, with the help of lawyers, Shark Cat obtained the copyright from its owner, resulting in a price rebound for the coin. On the other hand, POPCAT has yet to resolve the related issues, leading some users to transfer their holdings to SC.
Meanwhile, the recent resistance against venture capital (VC) has also affected the meme cat coin sector. Users are showing their support for community-based meme cat coins. Some users believe that POPCAT, MICHI, and Shark Cat represent community meme coins, while projects like MEW and MANEKI are suspected to have VC support, leading to internal disputes within the cat-themed memecoin community.
In terms of market capitalization, POPCAT currently holds the top position with over 45,000 holders, showcasing its strong community power. MICHI, deployed since April 8th, has also experienced rapid market value growth.
POPCAT and SC faced FUD due to copyright issues. The owner of POPCAT even expressed opposition to cryptocurrencies.
Despite the copyright controversy, the popularity of POPCAT has not declined. From April 21st to April 27th, Google Trends showed a peak in interest for the topic of Popcat.
However, some users chose to transfer their assets from POPCAT to SC during the copyright dispute. One user expressed their decision to support SC.
In the meme coin market, the recent discussion by A16Z’s CTO, Eddy Lazzarin, about the value of meme coins sparked controversy. Eddy’s statement received opposition from many users.
This discussion has also impacted the cat coin sector. Currently, community-based meme coins seem to have achieved a temporary victory over VC-backed meme coins.
Based on SOL-based trading pairs, the top three coins with the highest market cap growth in the past two weeks are Michi (+547%), SC (+216%), and POPCAT (+81%). Among them, MICHI has performed well, with its market value rising from $3 million to $110 million since deployment on April 8th.
As of May 9th, the overall prices of cat-themed meme coins have seen a slight decline. The top 10 cat coins by market capitalization are POPCAT ($442 million), MEW ($318 million), MOG ($177 million), WEN ($125 million), TOSHI ($120 million), MANEKI ($54.16 million), MEOW ($35.51 million), CAT ($34.60 million), $CWIF ($28.13 million), and PAJAMAS CAT ($21.09 million).
On Dexscreener’s homepage, there are many popular tokens related to cats or with cat themes, such as CATGPT, CRODIE, PUSS, CATZILLA, etc.
From IP disputes to the resistance against VC coins, the narrative within the cat coin community has entered a new phase. As the “Cat King Battle” heats up, users will choose their targets, and we eagerly await the continuation of this exciting story.
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