6 months ago
IP-backed memecoin Simon’s Cat (CAT) surged 50% Monday aft becoming the archetypal cat-themed token to get a coveted Binance spot listing — amid immoderate meme tokens taking the plagiarism heat.
CAT zoomed from $0.000039 to a grounds highest of $0.000067 successful aboriginal Asian hours Tuesday, information shows, earlier paring gains. Trading volumes roseate tenfold from $55 cardinal to implicit $500 million.
Open involvement successful the token’s aboriginal products astir doubled to implicit $60 million, showing a bump successful expectations of further volatility with a bullish bias.
Binance said Monday it would connection airdrops of CAT to users of their Earn products who staked circumstantial amounts of BNB tokens past week. It would past database 1000CAT (where a azygous token holds a 1000 CAT) astatine 09:00 UTC aboriginal connected Tuesday.
CAT is the authoritative token of Simon’s Cat, an animated bid astir a bare location feline and its adventures, with implicit 20 cardinal followers crossed YouTube, Facebook, and Instagram.
Comparisons with different cat-themed memecoins similar Popcat, MOG, and MEW often spot CAT astatine a perceived undervaluation owed to its spot listings and IP backing, among different reasons. Data shows it is the fourth-largest by marketplace headdress successful that category, 1 that’s led by MOG astatine $1.1 cardinal arsenic of Tuesday.
Well-followed trader @theunipcs — who famously turned $16,000 to $18 cardinal connected a BONK commercialized — is among the astir vocal supporters of CAT and expects it to go the largest cat-themed meme token successful the coming months.
“A $CAT flippening of $POPCAT to go the apical feline memecoin is highly likely,” the trader said successful a Monday post. “(It has) the champion mainstream designation for a feline memecoin brand, the champion portion bias among large feline memecoins, beardown and authoritative IP, 99% of CT is sidelined, truthful a hated rally is likely”
Are IP memecoins the future?
CAT’s spot listing comes arsenic non-IP memecoins progressively spot ineligible heat.
IP, oregon intelligence property, tin see characters from memes, video games, oregon immoderate taste improvement that person officially been trademarked oregon copyrighted earlier their tokens were offered to the public.
Tokens backed by IP person a clearer ineligible lasting regarding usage rights. The creators oregon owners of the IP tin legally licence the usage of their characters oregon concepts, reducing the hazard of ineligible challenges similar cease and desist orders oregon lawsuits for unauthorized usage of copyrighted material, which tin abruptly devalue non-IP-backed tokens.
Tokens are starting to look the hazard of ineligible enactment from IP holders if they bash not ain oregon securing rights to the IP they emulate oregon represent. Non-IP tokens similar chillguy (CHILLGUY) and pnut (PNUT) look challenges contempt being fashionable and wide traded.
On Monday, Mark Longo, the proprietor of Peanut the Squirrel which inspired the PNUT token, issued a cease-and-desist missive to Binance, accusing it of trademark infringement for listing and offering the PNUT memecoin.
Longo claimed Binance utilized his “Peanut the Squirrel” trademark and mascot likeness without permission, noting helium has been utilizing the PNUT marque for acquisition and carnal payment initiatives since 2017.
The cease-and-desist informing of imaginable ineligible enactment and sought penalties of up to $150,000 per infringement. PNUT’s prices are down 5% successful the past 24 hours, successful enactment with a broader marketplace lull.
As such, CAT is officially licensed to the mainstream Simon's Cat marque and is the archetypal large feline memecoin connected the BNB Chain, backed by the company's IP which earned $5.8 cardinal successful gross past year.
That drives the token’s concern thesis for traders specified arsenic @theunipcs.
"The world is that T1 CEXs (Binance/Coinbase/Upbit/etc) and large entitites volition not interaction memecoins with IP issues with a ten-foot pole,” helium noted successful a November post. “Because portion the memecoin is apt decentralized and launched by an anon, these CEXs are existent entities that could beryllium held liable for IP violations and it's conscionable not worthy the play for them.”
“Official Simon's Cat channels person promoted and volition proceed to beforehand the $CAT memecoin. This is an vantage nary different feline memecoin successful the abstraction has close now,” helium added astatine the time.
In the satellite of memecoins, CAT's IP could beryllium to beryllium its 9 lives.
English (US) 