Cashcat Soars 90% After Robinhood US Listing Amid Insider Trading Allegations

Cashcat, the memecoin linked to Robinhood Chain, has surged by nearly 100% in the last 24 hours. The token's market capitalization now exceeds $150 million, with a current price of $0.1483.

The recent price spike is largely attributed to Robinhood US listing Cashcat, which has fueled speculative buying among retail traders. However, allegations of insider trading have also emerged, with several wallets going long on Cashcat hours before the official announcement.

$CASHCAT's surge has also had a ripple effect on other low-cap meme coins, which are posting double-digit gains in the last 24 hours. In contrast, Bitcoin and Ethereum have recorded modest gains of under 1%.

Rohanhood Chain's total value has climbed to $774 million, representing a 20% increase over the past week. Established DeFi protocols such as Morpho and Etherna account for 43% and 41% of Robinhood Chain's TVL, respectively.