Meme coin CATE's market cap rebounds above $50 million, surging over 99% in 24 hours.

BlockBeats News, September 9 - According to GMGN market data, the market cap of Solana-based Meme coin CATE has rebounded above $50 million, currently reported at $51.54 million, with a 24-hour surge of over 99% and 24-hour trading volume reaching $12.8 million.

Previously, on July 26, Atsuko Sato, the owner of Kabosu, the Shiba Inu that inspired Doge, posted a video of her cat. The community quickly launched a token on Pump.fun, positioning it as the "successor to Doge / cat version of Doge," continuing the Meme culture of "dogs came first, now it's the cats' turn."

Subsequently, Atsuko Sato issued a statement clarifying that a series of CATE tokens circulating in the market recently have no connection to her whatsoever. She stated that she had only posted an update on Instagram, but the content was subsequently used without authorization by others to issue fake tokens, creating the illusion of an association with her. She expressed regret over this and noted that even some accounts with significant influence on platform X were involved in spreading related information.

BlockBeats reminds users that Meme coins often lack practical use cases and are subject to high price volatility; investment should be approached with caution.