Simon’s Cat Token Eyes Solana Expansion for Major Growth

Key Points:

• Simon’s Cat Token (CAT) expands to the Solana blockchain, aiming to capture the growing memecoin market.
• The move leverages Solana’s high-speed and low-cost network, popular among retail traders and memecoin enthusiasts.

Simon’s Cat Token expands to Solana, seeking to capitalize on the booming memecoin market with a strategic move to capture new retail traders.

Simon’s Cat Token Expands to Solana Amid Memecoin Craze

Simon’s Cat Token (CAT), a licensed memecoin based on the popular internet cartoon “Simon’s Cat,” is making a strategic move to the Solana blockchain.

This expansion aims to leverage Solana’s growing user base, particularly its memecoin enthusiasts, to capture new market share and drive adoption. The expansion aligns with CAT’s goal of reaching broader audiences, especially those already engaged in Solana’s active trading environment.

Long-term supporters of BONK, a notable Solana-based dog-themed memecoin, are being offered an exclusive opportunity to gain early access to CAT.

This promotion includes a special vault for BONK holders, allowing them to purchase up to $100,000 worth of CAT at a discounted price before the official launch. As of the Asian morning hours, the vault has seen significant interest, with over $240,000 worth of stablecoins locked in, surpassing the initial target, data shows.

Read more: Solana DEX Trading Volume Hits $5B Daily for Three Straight Days

Solana’s Memecoin Frenzy Drives CAT’s Expansion

Solana has become a hotspot for memecoins, with increasing trading volumes and token issuances that create a strong demand loop for SOL. This trend has seen Solana outpace other blockchains in memecoin activity.

According to DefiLlama, Solana recorded $91,78 million in fees in October and achieved over $70,3 billion in on-chain volume, a notable increase from its previous records. In contrast, other popular blockchains like Ethereum, BNB Chain, and Tron did not see comparable surges in activity, signaling that traders are favoring Solana for memecoin trading.

Recognizing this momentum, Simon’s Cat Token (CAT) chose Solana for its next phase of growth. A core team member from Simon’s Cat Token shared insights in a recent interview: “While BNB Chain has provided a solid foundation for CAT with strong liquidity, Solana’s speed, low fees, and popularity among retail traders make it a perfect fit for our expansion. We are thrilled to tap into this vibrant ecosystem.”

The team also highlighted the additional benefits of Solana’s deep support from crypto exchanges, which is expected to provide more opportunities for trading and increased liquidity.

The decision to expand to Solana is also understandable because SOL is considered the destination of the most powerful meme projects today. Not only that, thanks to the explosion of the pump.fun, meme projects benefit even more from the FOMO and motivation of a large number of users.

The project attracted more attention when Binance announced the listing of futures on October 21. Currently, CAT is available on OKX, Gate.io, Kucoin, HTX,…

In addition, Simon’s Cat also cooperates with Solana’s leading meme project, BONK, allowing BONK lock holders for 12 months to have early access to the CAT reserve on SOL. Accordingly, those who lock BONK for 12 months will be able to buy CAT 24 hours before the token officially launches on Solana. There will be a total of 100,000 USD CAT at a discounted price for BONK holders in this round.

Simon’s Cat Token was launched in August in collaboration with Floki, BNB Chain, and DWF Labs. As the first cat-themed memecoin officially tied to the Simon’s Cat brand on BNB Chain, CAT has garnered significant attention. The brand, known for its viral videos and merchandise, generated $5.8 billion in revenue last year, further boosting the token’s credibility and appeal.

Recent data shows that CAT’s price has surged by 19% in the last 24 hours and nearly doubled over the past two weeks. This performance reflects the ongoing memecoin rally and highlights growing investor interest in Simon’s Cat Token as it gears up for its next big move on Solana.