As ‘SNAPCAT’ Goes Viral on Solana and This Dogecoin Rival Just Secured $10 Million in Funding

cryptonews.com:

Bitcoin kicked off April with a tumble, yet Solana meme coin markets remain supercharged. In the latest development, SNAPCAT price has exploded after going viral, but retail investors are already shifting their attention to the next big launch.

This article will analyze SNAPCAT’s current price trends and see whether the latest incarnation of Dogecoin  represents a more promising investment opportunity.

Lfg

— Wright360 (@kmslade__81) April 2, 2024

SNAPCAT is a simple meme coin, with a play on the popular messaging app Snapchat, however, the project unlocked viral success after promising to create an ecosystem where cats could send snaps to each other.

While it remains unclear whether this could be the breakthrough humanity has long awaited, the comedic idea of cats sending Snapchat messages has clearly won over some fans – with more than 7,000 holders invested in the project since launch – sending the project surging to Hot #4 on DEXTools.

As price reels from the new all-time high, SNAPCAT is currently trading at a market price of $0.29 (Representing a 24-hour change of +129%).

This comes after SNAPCAT launched at just $0.008 on April 1, in a comedic move that gained strong traction in the first 4-hours, with SNAPCAT price hammering up to hit a local high at $0.37.

Initial retracement saw a lengthy consolidation in defense of support at $0.1 – eventually providing a launchpad for skyrocketing price action at 6 AM UTC on April 2.

SNAPCAT rallied a further +460% from here to hit an all-time high at $0.59, however, with early backers sat atop whopping +71,150% gains, a sell-off was inevitable and retracement has since set in.

Currently price action is trading -46% down from the recent ATH, with 7,000 holders fighting to hold the