Simon’s Cat expands to Solana

CAT, a licensed meme coin of Simon’s Cat, a popular online cartoon character, is making its way to the Solana blockchain to attract young people.

The Simon’s Cat token was developed in collaboration with Floki, BNB Chain, and DWF Labs in August. It was the first significant cat memecoin on the BNB Chain, CAT is formally associated with the well-known Simon’s Cat brand. It is supported by the company’s intellectual property, which generated $5.8 billion in revenue the previous year.

A 12-month token lock would grant early access to CAT on Solana, to BONK’S long-term holders. A vault will provide up to $100,000 worth of CAT at a price that is lower than the launch market price. By the morning hours of Asia, the vault had surpassed the initial goal of $100,000, with $240,000 worth of stablecoins deposited for CAT on Solana, according to data.

Solana has become a memecoin hotspot. It frequently experiences frenetic token issuance and trading cycles, which generate demand for SOL and result in gains redirected into newer tokens.

Solana broke a record of $300,000 set in 2021 when it collected $3.02 million in fees in a single day in March of this year. No other well-known blockchain, including Ethereum, BNB Chain, or Tron, experienced an increase in activity during that time suggesting that traders’ attention was concentrated on just one network.