Solana-Based Memecoin Reaches Historic High After Key Announcement

The Solana-based "Cats in a Dogs World" (MEW) meme coin reached a new all-time high after an impressive 18% price jump.

This increase came after South Korean exchange Upbit announced the addition of the Korean won (KRW) as a trading pair for MEW.

Prior to this announcement, the price of the MEW was $0.0089. After the news was spread, however, the coin experienced a bullish momentum that boosted its price to $0.010.

Upbit had previously listed MEW with various pairs, including Bitcoin (BTC) and USDT, back in September. That initial listing sparked a rally, but the coin failed to surpass its previous all-time high.

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The previous high for MEW was $0.0097, reached in March. At the time of writing, the meme coin is trading at $0.0095

Interestingly, the market reaction to this latest development may come as a surprise to some. Typically, listings on Upbit lead to a rise in the prices of the respective cryptocurrencies. For example, last week’s listing of Injective (INJ) resulted in a 10% jump within minutes.

Alongside the price uptick, MEW trading volume also saw a significant increase. According to Santiment, token volume has exceeded $200 million, indicating solid support from market participants during this rally.

Alexander Zdravkov