Solana Memecoin $MEW Surges 30% on Upbit Listing

Solana-based memecoin cat in a dogs world ($MEW) has witnessed a bullish momentum after a listing announcement from Upbit, the largest cryptocurrency exchange in South Korea. On Thursday, Upbit announced it would list $MEW and open trading for $BTC and $USDT trading pairs at 10:00 UTC on September 19, 2024. The exchange noted that it will only support the Solana network for deposits and withdrawals of $MEW.

$MEW Jumps 30% on Upbit Listing 

Following the announcement, $MEW rose sharply by 30% to exchange hands at $0.005544. The notable price surge helped propel the memecoin’s market cap to $488 million, entering the top 10 largest memecoin. It is currently the fourth-largest memecoin on Solana by market cap.

Moreover, the memecoin witnessed a surge in market activity following the announcement. Data from CoinGecko shows that the memecoin 24-hour trading volume currently stands at $198.5 million, representing a remarkable surge of 339% from one day ago.

$MEW is a feline-themed memecoin on a mission to save cats from a world dominated by dogs. In addition to Upbit, the memecoin has attracted the attention of several other leading exchanges, such as OKX, KuCoin, Bybit, HTX, and more.

Listing Update for $MEW

Meanwhile, Upbit gave some important updates regarding the listing of $MEW. The exchange stated that deposits for the memecoin must be made through exchanges listed as eligible operators by Upbit.

“In order to comply with the Travel Rule, if assets are deposited into Upbit through an exchange that is not included in the list of virtual asset operators eligible for deposits and withdrawals, a separate deposit reflection review is required. Deposits that are not reflected may take a long time to be refunded,” the exchange said.

It appears Upbit’s interest in memecoins is gradually growing. Just late last month, the crypto exchange listed $PEPE and $BRETT. Following the announcement, $PEPE rose sharply by 13% while $BRETT skyrocketed by 36%.