Altcoin
Ethereum Altcoin MEW will destroy Shiba Inu and Dogecoin, according to analyst
- Altcoin Daily claims that Solana’s cat-themed meme coin, MEW, could outperform Shiba Inu and Dogecoin.
- MEW’s partnerships, unique appeal and offering structure are seen as key advantages.
Altcoin Daily has generated considerable interest in the crypto community with his bold statement that Solana’s meme coin, MEW, is set to “destroy” major dog-themed tokens like Shiba Inu and Dogecoin. This prediction hinges on MEW’s unique position within the Solana ecosystem and its distinctive feline-themed branding.
MEW’s unique appeal in a dog-dominated market
Altcoin Daily’s analysis suggests that MEW, with its “cat in a dog world” narrative, offers a unique perspective on the meme coin market. The token’s appeal and associated storyline resonate strongly with investors seeking novelty beyond the dog-themed meme coins that currently dominate the space.
MEW’s connection to the Solana blockchain is a significant advantage. Solana’s rapid growth and technological capabilities provide a solid foundation for MEW, increasing its potential for widespread adoption. The total supply of the coin is 88,888,888,888 tokens, of which 90% have already been burned and 10% have been flown to the Solana community, creating a strong and loyal user base.
In contrast, Dogecoin and Shiba Inu have much larger circulating supplies. DOGE has over 144 billion uncapped tokens and SHIB has a maximum supply of 1 quadrillion tokens. This difference in supply dynamics positions MEW as a potentially more attractive investment due to its perceived scarcity.
Strategic partnership with LOCUS Animation Studios
A critical factor strengthening the potential of MEW is its partnership with LOCUS Animation Studios. This collaboration aims to bring the MEW ecosystem to life through animation, leveraging the storytelling and visual art that LOCUS is known for. Known for producing globally successful properties such as “Red Shoes” and “Yumi’s Cells”, LOCUS’ involvement is expected to increase MEW’s appeal and reach beyond the crypto community.
This partnership aims to animate the plot of MEW, presenting the relatable journey of a lonely cat in a world dominated by dogs. By expanding MEW’s narrative through high-quality animation, the collaboration seeks to appeal to a broader audience and foster a deeper connection with existing holders.
Stock listings and market position
MEW’s growing market presence is evidenced by his lists on several major centralized and decentralized exchanges. Major exchanges such as OKX, Bybit, Gate.io, HTX, KuCoin, MEXC, Bitget and BingX have listed MEW, improving its accessibility and trading volume. Furthermore, Bithumb has listed MEW on the KRW market and the token is also available on decentralized exchanges such as Raydium, Orca and Solana Exchange Jupiter.
Currently, MEW is the tenth largest meme coin, with a market capitalization of $394,348,674. In comparison, Dogecoin and Shiba Inu have market capitalizations of $20.15 billion and $12.9 billion, respectively. For MEW to surpass these leading tokens, it would need to achieve a 30x increase in value. As of this writing, MEW is trading at $0.004436 with a decline of 8% in 24 hours.
Despite the optimism surrounding MEW, overcoming Dogecoin and Shiba Inu remains a formidable challenge. Historical trends indicate that even successful meme coins on Solana, such as Dogwifhat, have not surpassed Shiba Inu. For example, Dogwifhat saw a more than 20x increase, but still fell short of Shiba Inu’s market capitalization by a significant margin.