MEW, the Solana-based meme coin known as “cat in a dogs world,” has experienced a notable increase of over 16% in the past 24 hours, making it the leading gainer among cryptocurrencies on July 24.

At the time of writing, the feline-themed meme coin cat in a dogs world (MEW) was still up 11%, trading at $0.0081 per price data on crypto.news. The crypto asset’s market cap had surged to $726 million, making it the 94th largest cryptocurrency.

Moreover, the meme coin’s daily trading volume has dropped 16%, hovering around $250 million, suggesting that MEW investors are optimistic about its potential rise and prefer to hold their positions rather than sell.

The latest price surge in MEW follows a July 23 X post in which WhiteBIT, one of the largest European centralized crypto exchanges from Ukraine, revealed that it had listed the meme coin.

Just a day earlier, the exchange also announced a bounty program that would see the top 250 participants rewarded from a prize pool of 6 million MEW tokens.

MEW was initially introduced on the Raydium exchange, benefiting from a 10% airdrop to the Solana community on March 26. The launch was met with immediate enthusiasm, driven by the Solana hype and the coin’s engaging “Cat in a Dogs World” theme. Within just three hours of its launch, MEW’s trading volume soared to $150 million.

Cat-themed tokens as a whole are valued at $2.7B after an expansion in the past few weeks. Popcat (POPCAT), another cat-themed meme coin on Solana, also experienced a surge of 12% on July 24, exchanging hands at $0.8155 at press time.

MEW’s surge also comes at a time when the global crypto market is experiencing a slight drop, standing at $2.39 trillion. Bitcoin, the pioneering crypto asset, was also down 1.13%, exchanging hands at $658,876 at the time of publication.