The crypto market rally is spreading to small- and mid-cap meme coins. Several dog- and cat-themed meme coins have more than doubled over the past week, signaling that investor risk appetite is rapidly strengthening.
According to crypto media outlet CoinDesk, Robinhood-chain-based meme coin Cash Cat surged roughly 51% in the past 24 hours to $0.218 (approximately 300 won) as of the 25th. Its weekly gain reached 113%, while the monthly gain stood at roughly 345%. Market capitalization is around $215 million (approximately 300 billion won).
Cash Cat’s trading volume was unusually high relative to its market cap. Roughly $80 million (approximately 110 billion won) changed hands over the past 24 hours, equivalent to 37% of its roughly $215 million market cap. Such thin liquidity is a key factor that amplifies upside moves when buying pressure floods in.
Other cat-themed meme coins also showed strength. Over the past week, Thinking Cat rose 131%, Purr gained 93%, POPCAT climbed 54%, and Cat in a Dogs World (MEW) advanced 49%.
Dog-themed meme coins continued their upward momentum as well. Dog (Bitcoin) roughly doubled over the past week, while dogwifhat (WIF) rose 64%, Bonk (BONK) gained 47%, and Floki (FLOKI) added 40%.
Large-cap meme coins joined the rally but posted relatively smaller gains. Dogecoin (DOGE) rose roughly 32% over the past week, while Shiba Inu (SHIB) climbed about 30%.
The rally is being interpreted as a classic risk-on spillover pattern, where gains that began in large-cap crypto assets are cascading into smaller-cap names. Meme coins are crypto assets built around internet memes and communities rather than traditional businesses or cash flows, and they tend to react sharply when investors show a greater willingness to take on risk.
CoinDesk noted that the move suggests the rally is extending further down the market-cap rankings. The outlet explained that thinly traded small- and mid-cap meme coins can amplify gains when buying pressure concentrates, but conversely, losses can also deepen when selling pressure takes over.
Market sentiment is also improving rapidly. The Crypto Fear & Greed Index has climbed to roughly 75, its highest level since early October last year. Just a week ago, the index hovered around 30.
Weekly gains for major meme coins are as follows:
| Meme Coin | Theme | Weekly Gain |
|---|---|---|
| Cash Cat | Cat | 113% |
| Thinking Cat | Cat | 131% |
| Purr | Cat | 93% |
| POPCAT | Cat | 54% |
| Cat in a Dogs World (MEW) | Cat | 49% |
| Dog (Bitcoin) | Dog | ~100% |
| dogwifhat (WIF) | Dog | 64% |
| Bonk (BONK) | Dog | 47% |
| Floki (FLOKI) | Dog | 40% |
| Dogecoin (DOGE) | Dog | 32% |
| Shiba Inu (SHIB) | Dog | 30% |
Note: Gains reflect price movements over the seven days through the 25th.
This marks the first time the Fear & Greed Index has entered the 70 range since early October last year. At that time, a large-scale liquidation event occurred on October 10, shortly after the index crossed above 70. However, it is worth noting that the index measures current investor sentiment rather than predicting future declines.
