The open interest in the token's futures products nearly doubled, exceeding $60 million, indicating heightened expectations for further volatility with a bullish outlook.
The IP-backed memecoin Simon’s Cat (CAT) experienced a remarkable 50% increase on Monday after achieving the distinction of being the first cat-themed token to secure a highly sought-after spot listing on Binance, amid scrutiny faced by some meme tokens for plagiarism.
According to data, CAT surged from $0.000039 to an all-time high of $0.000067 during the early hours of trading in Asia on Tuesday, before retracing some of its gains. Additionally, trading volumes skyrocketed from $55 million to over $500 million.
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