CatBoy (CRYPTO: CATBOY), a meme coin acclaimed because the cat equal of Dogecoin (CRYPTO: DOGE) and acts as a utility token, noticed its worth crash violently at present after reporting eye-watering good points earlier this month.
What Occurred: Market knowledge reveals CatBoy’s worth fell by about 68% from its 24-hour excessive of $0.05427 all the way down to a low of $0.01739, earlier than correcting to $0.2222 as of press time Tuesday afternoon. The crash follows the meme coin just lately registering a current spike of greater than 640% in beneath per week when the token was the highest trending cryptocurrency on the world’s prime crypto knowledge service, CoinMarketCap.
The autumn in CatBoy’s worth coincided with a big spike in its buying and selling quantity. The meme coin’s 24-hour buying and selling quantity elevated by about 483% from about $326,000 to effectively over $1.9 million.
CatBoy is a community-led non-fungible token (NFT) challenge with meme coin parts that purpose to cater to anime and manga lovers. CatBoy token holders can spend their property to buy NFTs that includes 18 totally different characters with varied rarity ranges.
CatBoy attracted 27,700 followers on Twitter. An essential presence reported earlier this month amongst these followers was Changpeng Zhao, the CEO of the world’s prime crypto change Binance, who now apparently stopped following the profile.
Picture by Invoice Stephan on Unsplash
