Solana Memecoin CATE Surges 230-Fold on Kabosu Kitten Video
The Solana-based memecoin CATE skyrocketed in value after its owner shared a video of her kitten, only to cool off shortly after. The token's market capitalization surged roughly 230-fold within a day, reaching over $9.5 million before settling at around $7.09 million.
The sudden price action was triggered by a post on X from @kabosumama, the owner of Kabosu, who shared a video featuring her kitten. The Dogecoin community, which has a strong emotional attachment to Kabosu, took notice and quickly launched a memecoin on Solana.
The CATE token's name and branding directly reference the cat in the video. This is not an isolated incident; memecoins often experience extreme price swings based on social media virality rather than fundamental value.