A new memecoin, CASHCAT, has surged more than 1,100% in 24 hours after Robinhood CEO approved memecoins. It achieved a market cap of over $150 million and a price of over $0.15 in just one day after launch.
She launched as the mascot for the Robinhood app, but has now become the first major memecoin story on Robinhood since The series launches on July 1.
Robinhood Chain started with real-world assets, on-chain financing, and analytics. Later too Trump accounts launched For retail sale. Memecoins were not on the list. Then, Vlad Tenev, CEO of Robinhood, made a public post saying: “The Robinhood series will be the best series for RWA, but it’s great for memes too.” I also followed CASHCAT’s official X account.
This catalyst changed the direction of the memecoin.
One trader made $1.6 million from an $86 investment
The crazy move in the CASHCAT trade was one Taken over by LookOnChain. Before the boom, the wallet, known as 0xeee2, purchased 17.5 million CASHCAT tokens for just $86.
Later, the trader sold $3.6M of CASHCAT for $390.5K and still held $13.8M of CASHCAT ($1.24M). It made headlines and helped continue the momentum that had been flowing since Tenev’s tweet.
Market value tells the whole story. CASHCAT had a market cap of $150 million but saw it drop to around $120 million. Current consolidation around a market cap of $124 million indicates neutral momentum, with some analysts targeting a market cap of $1 billion if the buying continues.
Where CASHCAT is actually traded
CASHCAT is currently available for purchase on Uniswap V3, via Robinhood, MEXC, Hibt, PancakeSwap, and Meteora DAMM.
Pump.fun also announced that Robinhood tokens are now available for trading on the Pumpfun app, just one day after Tenev shared. Modernization removes friction for new investors and gives them bridgeless access.
What does a rise in CASHCAT mean for the Memecoin market
CASHCAT is not a native launch of Robinhood. It’s the memecoin that took over the Robinhood brand and received the CEO’s endorsement.
The question of whether CASHCAT’s meme coin will maintain its market cap or decline significantly is insignificant compared to what this week showed: Robinhood Chain could drive memecoin momentum, and this hack story could drive trading volume for Solana memecoins.
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