The cat-vs-dog-themed animated clip posts have fueled a lot of optimism in the meme-MEW. One of the clips of July 19th led to a massive increase of more than 135% for MEW price.

However, it fell due to instability in gains, which has been accelerated by the global red markets lately. The MEW formulated a liquidity grab wick after receding to its primary demand zone. This described massive buying in the market on August 5th.

Simultaneously, a clip was posted the same day, which could have garnered more attraction in Cat in a Dogs World (MEW).

As of writing, the bullish boost gave a price surge of 16%, and MEW’s market cap reached $522.63 Million intraday. Likewise, the surge has taken this meme coin to the 101st seat among the top 100 cryptocurrencies in 24 hours.

What are Social Sentiments in MEW?

Its investors and traders looked confident for further growth with time. One of them with a giant fan following, @NekozTek, added more fuel to optimism.

The enthusiast shared a chart and said that many have not displayed gains yet, but MEW does.

He even added that it has been listed on almost every major exchange and has a high level of content supporting the project. It has now been one of the best performers in memes in general.

In particular, the @NekozTek has even aped a good amount in size during the recent dip. He expects heavy returns sooner rather than later. People are advised to be cautious and avoid FOMO (DYOR).

What’s so Interesting About MEW That Happened After Bagging a Collab?

On May 30th, MEW shared an essential update on X. They partnered with an expert in the Development and production of theatrical animated feature films and TV series, @Locus_studios.

The collaboration between Locus & MEW was to produce a new 3D animation. With MEW’s rising popularity, Locus has entered the global web3 market.

Meanwhile, the partnership with @LOCUS_Studios brings MEW’s world to life by combining best-in-class animation. This would benefit the grassroots of the Solana-powered memecoin community.

Furthermore, the MEW’s collab ideation was to use immersive art and epic storytelling. This kind of sharing can bridge the landscapes of crypto and popular culture.

With this partnered news, it has shown its first step of many steps to becoming a worldwide entertainment and retail brand.

The storyline they shared on X begins with a rat-friendly cat named MEW. MEW lives in a world ruled by dogs and their evil corporation, SHIBEX.

MEW would save this world by defeating dog boss henchmen and the dog boss Shibatoni to overthrow SHIBEX. After the successful collab, it shared many video clips on X, where the cat meme coins challenged dogs’ dominance.

These clips became an instant attraction to many. After a short time spent in the market, rising interest among the public signified great optimism building in MEW.

MEW clips | Source: X

Additionally, the MEW had a good count of total holder addresses at press time, which were 183,174. Its top 100 holder addresses held nearly 75.68% of the supply in circulation.

MEW Price Chart

Since its start, a volatile range has been in play in the MEW (MEWUSD/CRYPTO). It led to a breakout after forming a pattern known as a descending triangle.

The witnessed breakout showed higher gains at a $0.0087 peak from a low of $0.0031 by July 24th, 2024.

However, the price declined due to failure to proceed further and dipped into the demand zone. This was happened under the influence of broader market sentiment lately.

Recently, the broader market sentiment in the crypto space improved, which displayed growth in buying interest. Thus, this exhibited further chances of ascent continuation.

When writing, the indicators are bullish, as they pierced the 50-day EMA and were heading to retest the $0.0079 and $0.0099 mark.

Meanwhile, the MACD had an anticipated bullish crossover with an improving histogram towards the zero line. The histogram was negative 0.000220, and the RSI was above a median line at 52.59.

However, the support lies around $0.0046 and $0.0032, respectively.