- Simon’s Cat surged 37% after Binance announced its new perpetual contract listing.
- The listing allows traders to leverage positions up to 75 times, enhancing trading strategies.
- Over 230,000 holders join Simon’s Cat, driving significant investor interest and market growth.
Simon’s Cat skyrocketed 37% after Binance announced a new perpetual contract for this token. Excitement among traders surged, pushing the price to around $0.000033. This cat-themed coin has been gaining attention from savvy investors thanks to its remarkable performance. Now, analysts predict more growth with this listing.
The Binance 1000CATUSDT Perpetual Contract Listing
According to the above X post, Binance has introduced the 1000CATUSDT perpetual contract. This exciting development allows traders to leverage positions up to 75 times, enhancing trading strategies significantly. The option to use Bitcoin and other digital assets as collateral for margin trading adds a layer of flexibility that encourages more engagement with Simon’s Cat.
With a fully diluted valuation reaching about $267 million and a daily trading volume of approximately $140 million, investor interest in this small-cap meme coin continues to grow. Over 230,000 holders have joined the Simon’s Cat community, and around 10% of the total supply has been burnt, reducing the available tokens and increasing scarcity.
Meme Coins Gain Traction
The meme coin market has experienced significant growth and now boasts a market capitalization exceeding $58 billion. Dogecoin (DOGE) and Shiba Inu (SHIB) have historically led the charge. However, Simon’s Cat aims to carve out a niche during the current crypto bull run.
Support from the Floki Inu community, which received about 18.5% of Simon’s Cat during an airdrop, enhances the token’s credibility and appeal. Despite facing recent fluctuations, Simon’s Cat remains a strong contender in this competitive market.
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After hitting an all-time high of $0.000046, a pullback of over 28% occurred as airdrop participants took profits. Yet, a strong bullish momentum could propel Simon’s Cat back to new heights. From a technical perspective, CAT holds immense upside potential.
The recent surge of Simon’s Cat highlights the growing appeal of this unique meme coin. With this listing, Simon’s Cat blends community support with strategic leverage trading— a perfect environment to spur significant growth.
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