$CASHCAT is trading around 8.7 cents, up 22% from the previous day, with a market capitalization of about $86 million and a daily volume of $9 million. However, this is still significantly lower than the approximately 22 cents reached in mid-July.
The memecoin was created by third-party developers based on the "cat with money" logo the company used before rebranding, and its own website calls it "a fanfic with a ticker." It became the first breakout on the blockchain a week after the mainnet launched on July 1, delivering seven-figure profits to several early wallets and prompting Robinhood Markets CEO Vlad Tenev, who had earlier in the week called assets without utility a dead end, to write that the blockchain "works great for memecoins too."
However, much of what launched alongside it has disappeared. Noxa, the launchpad behind the July wave, stopped accepting launches on July 11 and shut down two days later, earning roughly $12 million in fees.
According to data, the number of token deployments on the network's launchpads dropped from around 35,000 per day to about 10,000 by mid-July. Noxa still holds about $137,000 worth of $CASHCAT and is not selling them; its balance remained unchanged last week while its value increased by 75%.
$CASHCAT's own distribution has expanded. DEXTools data shows the token has about 41,200 holders, with the full supply of 989 million in circulation with no locked allocations, and the largest holder is a Uniswap pool providing its liquidity, at 2.47%.
The largest wallets below that level hold between 1.3% and 1.5% each. This pool contains $5 million - more than any other memecoin pool on the blockchain.
The tokenized real-world assets hosted on Robinhood's chain now have an active market value of $100 million, compared to about $70 million at the end of July, when each of a dozen tokenized stocks was bringing in over $500,000 per day, with GameStop alone generating $26 million.
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