CATS, one of the highly anticipated launches, just went super bullish in under a day, making it among the top most successful crypto launches in this market. In fact, the coin’s Telegram group grew from 20 million all the way to 50 million users in less than a month, which is quite impressive for a coin that’s new to the crypto market.

But the big question still remains: will this coin sustain its gains? Or better yet, what is CATS all about? Thankfully, you’ve come to the right place. In this article, therefore, we’ll highlight all that you need to know about CATS before investing in it and the best place to purchase this coin. That said, let’s get started!

What is CATS?

CATS is a meme coin that actually serves a real-life purpose; feeding stray cats through a live stream. By simply donating your coins, you can watch as the cat food is dispensed to cats in real time, which shows users the immediate impact of their donations.

As a matter of fact, CATS is one of the few meme coins worldwide that’s not purely driven by community hype and trends. It actually serves a purpose, which has made this coin quite popular among crypto enthusiasts, cat lovers, and all-around animal lovers in the crypto world.

The buzz surrounding meme tokens, especially those integrated with popular platforms like Telegram, has drawn the attention of both casual and serious investors. This demand has helped CATS capture the spotlight despite being a newer entrant in the memecoin space.

Price Action of CATS on CoinEx

The CATS token has experienced a volatile trading day, as you can see on CoinEx. Earlier in the day, CATS surged to a peak of $0.0001798, an impressive rally, but it has since retraced, currently trading at $0.0001130. This indicates a significant 23.49% decline from its high.

From a technical standpoint, the token exhibited sharp upward momentum earlier, spiking from $0.00009803 to its peak within a few hours. However, this rally was short-lived, with multiple smaller peaks and corrections throughout the day.

After hitting its high, CATS faced consistent selling pressure, leading to lower highs and lows on the chart. This points toward weakening bullish momentum as traders were most likely securing their profits following the earlier rally.

In terms of this coin’s fundamental perspective, CATS' earlier surge can be attributed to its recent listings on major exchanges like CoinEx, which typically boost a token’s visibility and demand.

The project’s connection to the TON blockchain and the broader trend of meme coins, combined with its community engagement on Telegram, likely contributed to the earlier enthusiasm. However, this initial excitement appears to have faded, leading to the current downward pressure.

Despite the token's current dip, CATS has still posted gains over the past 24 hours and 7 days showing that overall sentiment is positive in the medium term.

However, the large retracement after the high could signal a period of consolidation or further downward movement as investors digest the price volatility and selling pressure. If CATS can maintain its community engagement and avoid a significant sell-off, there may be room for future rallies.

CATS Cryptocurrency Overview: All You Need to Know