Cash Cat Memecoin Rallies as Whales Pile In, Market Cap Nears $200M

Cash Cat, the native memecoin of Robinhood Chain, has seen a significant surge in value over the past week. The token's price jumped 113% in just seven days and its daily trading volume reached $23 million. This rally is largely driven by 'whale' investors, who are buying large amounts of CASHCAT.

The move has also lifted the total memecoin market cap on Robinhood Chain by 8% to $210 million. It's worth noting that Cash Cat has no product, utility, or affiliation with Robinhood Markets, which has never endorsed or listed it.

The token's price had previously peaked at over $0.17 in a single week, topping its market cap around $156 million and turning over roughly $98 million in a day. This current rally is seen as a partial recovery from those highs rather than the start of something new.