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As speculative demand continues to focus on the newest generation of meme tokens linked to Robinhood, Cash Cat (CASHCAT) has continued its explosive rally to yet another all-time high. After an almost continuous rise from its August lows, CASHCAT momentarily surpassed $0.31 on MEXC perpetual futures, creating a new peak.
Cash Cat leads the way
Due to the move, the token's value is now in the $300 million range. According to recent tracking data, CASHCAT was valued at $314 million before declining to $276 million. Rather than being a singular CASHCAT event, the move is part of a larger speculative rally.
Index, MOS, Basecat, HYPE, and Plumber are other tokens that are gaining popularity, and PONS is still one of the most well-known names in the Robinhood meme-token market. According to recent reported valuations, PONS was valued at more than $700 million, Basecat at about $58 million, and Index at about $75 million.
On MEXC futures, however, CASHCAT has entered a severe correction. CASHCAT declined toward $0.25 after reaching about $0.315, resulting in a daily decline of about 15% at the time of the chart. In isolation, this move appears harsh, but it comes after an incredible surge from below $0.05 in early August. CASHCAT is still significantly above its major moving averages even after the correction.
What's next for the meme?
The longer available moving average is about $0.123, and the 20-day EMA is close to $0.186. This difference shows how quickly the price has deviated from the underlying trend. Additionally, momentum is starting to return to normal. After repeatedly approaching overbought territory during the rally, the RSI is currently at about 62. This allows CASHCAT to stabilize, but volatility remains very high.
Whether the $0.23–$0.25 region can hold is the immediate technical question. Another attempt at $0.30 and the recently established ATH at $0.315 may be possible if there is stabilization there.
A breakdown would make a much deeper retracement toward $0.19–$0.20 more likely. Although CASHCAT is still one of the biggest beneficiaries of the Robinhood meme rally for the time being, the MEXC correction demonstrates how quickly momentum can reverse following such a sharp expansion.
Dan Burgin
U.Today Editorial Team
