- Popcat emerged victorious in a competition involving cat-themed memecoins, when it achieved the milestone of surpassing $1 billion in fully-diluted value through a $630,000 purchase.
- Even though Popcat won the Polymarket bet, numerous traders objected to the purchase after it was made; nonetheless, the buyer has disputed that the acquisition had anything to do with the betting market.
Cat-themed memecoins have been rising recently, rising in recent months and reaching new heights, while dog-themed memecoins like Dogecoin DOGE +6.96% and even newer memecoins like Pepe PEPE +1.09% have long dominated the crypto sector.
Now, a new, albeit fleeting, milestone has been reached: Popcat POPCAT -3.0017%, the first memecoin with a cat theme, has surpassed $1 billion in fully-diluted value (FDV) on Dexscreener, thanks to an almost $630,000 transaction by X user Wiftardio. According to on-chain data, Wiftardio has around $19 million worth of several memecoins in his wallet, including $2 million worth of Billy, $7.7 million worth of dogwifhat, and now $5 million worth of Popcat.
Two months ago, Wiftardio purchased roughly $475 worth of memecoin. Shortly after, he amassed over 6.3 million tokens, which were valued at an estimated $2.6 million at the time, according to Solscan.
A Polymarket wager over which memecoin with a cat theme will be the first to reach the $1 billion FDV threshold was settled as a result of the transaction. Wiftardio claimed that their purchase had anything to do with the betting market, saying instead that they were merely making sure the cat kept popping! Some Polymarket commenters had criticized the big buy as being manipulative of the market.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
