Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The crypto market ends the week at a total market capitalization of $1,165 trillion. Bitcoin is up by over 2% after a rollercoaster of a week. Ethereum decreased by almost 1% over the past seven days. XRP gained more than 15% in value this week. Almost all altcoins are trading in the green, with very few exceptions. The DeFi sector decreased the total value of protocols…
OCAT’s BKEX ICO Stirs Meme Coin Market With 3000% Jump
A new animal-based crypto project is raising excitement within the meme coin market. Orange Cat Token ($OCAT), the cat-themed coin, is currently one of the most popular and fastest-growing animal coins on offer.
In a tweet highlighting this feat, it has teased a Cat Vs. Dog war. The Dog refers to the Elon Musk-backed meme coin Dogecoin (DOGE). OCAT is looking to depose DOGE as the most preferred animal coin.
$OCAT’s 3000% Pump
The project has a unique offering and draws its growing popularity from its recently concluded BKEX listing. The June 11th event saw it experience a 3000% Pump. According to the project’s team, the pump occurred due to increased interest in $OCAT by new supporters.
At the moment, there’s an ongoing $OCAT airdrop. The team intends to conclude the campaign on the 17th of this month. It will then begin the token’s distribution from the 18th. Similarly, the project has announced the completion of plans to list on the Gate Exchange.
$OCAT And The #STOPELON Movement
Trending the #STOPELON hashtag, the project holds that it intends to eliminate celebrity manipulation of crypto markets. It prides itself in fighting celebrity worship and returning crypto to its true tenet; decentralization. Furthermore, it intends to create a platform for people to contribute positively to the planet.
Recently, Tesla’s Elon Musk has come in for criticism over his tweets about BTC and DOGE. Critics, including Syngia’s Magda Wierzycka, have accused him of market manipulation. Ms. Wierzycka believes that Musk intentionally influenced BTC’s price through his tweets.
Besides calling into question BTC’s carbon footprint, Musk’s company rescinded an earlier decision to accept BTC payments. Analysts believe that these actions caused the crypto’s downward spiral. Interestingly Musk has always portrayed DOGE in a favorable light leading to its price appreciation.
$OCAT Merging DeFi And Philanthropy
$OCAT is a community DeFi token running on the Binance Smart Chain. On its website, it describes itself as the crypto for animal lovers.
The project affirms that it stands for decentralized philanthropy. Moreover, it states that it does this through open and democratic funds management. Its smart contract incorporates the Orange Cat Foundation (OFC), the project’s charity wing. The OFC will contribute to animal charities globally.
Additionally, $OCAT is eco-friendly as it is a mining-free project. Besides emphasizing community, it limits the amounts one can invest in it. This way, the project safeguards investors from whales that remain a source of concern for small-scale investors.