Ramazan Eles 
Solana-based meme token $MEW, also known as “Cat in a Dog’s World,” has surged over 16% in the past 24 hours, making it the biggest gainer of July 24th.
According to CoinGecko, Cat in a Dogs World is still up 12% at the time of writing, trading around $0.008379. With this surge, the token has reclaimed its position as the 94th largest cryptocurrency by market capitalization, reaching $726 million.
Interestingly, the daily trading volume of the well-known meme token has decreased by 16% to $250 million. This pullback suggests that investors are optimistic about the potential upside and are holding their positions rather than selling.
Why is MEW price rising?
The recent surge in $MEW price follows the announcement on July 23rd by WhiteBIT, a European cryptocurrency exchange based in Ukraine, that it will list the token.
Just a day before that, the exchange announced a reward program where the first 250 participants will be rewarded with 6 million tokens.
MEW token initially listed on the Raydium exchange and conducted an exclusive airdrop for the Solana community on March 26th. The launch was met with enthusiasm due to the recent popularity of Solana-based meme tokens. The token reached a trading volume of over $150 million within approximately three hours of its market debut.
As noted in the accompanying table, cat-themed cryptocurrencies have seen a surge in trading volume, reaching $2.7 billion in the past few weeks. Another Solana-based cat token, Popcat (POPCAT), also rose by around 12% on July 24th and is currently trading at $0.8372.