Cat-Themed SHIB Rival Listed on Leading US Exchange

Kraken, one of the leading cryptocurrency exchanges, has listed the cat in a dogs world (MEW) meme coin, according to a Thursday announcement. 

Despite the listing, the price of MEW has plunged by more than 15% over the past 24 hours, according to CoinGecko data.

Cats vs. dogs  

The Solana-based MEW token was launched back in March 2024 in order to challenge the dominance of canine meme coins. Like the overwhelming majority of other joke cryptocurrencies, it does not have any particular use cases. 

At press time, MEW is the worst-performing meme coin among those meme coins that have a market cap of more than $500 million. 

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Notably, it is not the only cat-themed meme cryptocurrency that has recorded a double-digit price drop over the past 24 hours. Popcat (POPCAT) and Mog Coin (MOG) are both down 12.1% over the aforementioned period of time. 

For comparison, Dogecoin (DOGE), the leading canine meme coin, is down less than 5%. Shiba Inu (SHIB), the main DOGE rival, has slipped by 5.5%. In fact, not a single major canine meme coin has logged a double-digit drop. 

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For now, it seems like the canine coins definitely have gained the upper paw. This is unlikely to change anytime soon given that there is only one cat-based meme coin with a market cap over $1 billion. 

Kraken's recent listings 

Earlier this month, Kraken also added support for EigenLayer (EIGEN), the native token of the eponymous restaking protocol. 

MEW and Goldfinch (GFI) appeared on the list of available cryptocurrencies last month. 

In late August, the exchange introduced new margin pairs for SOL and DOGE.