On September 6, crypto trader Ansem jumped onto social media to shill a Solana meme token called ZCAT (Anonymous Cat). The post lit a fire under it. ZCAT’s market capitalization ripped past $69 million and hit a fresh all-time high. Since then, it has cooled off to $50 million, based on GMGN market data. Its 24-hour trading volume is $2.2 million, and the price rose 3.6 times over that stretch.
ZCAT is a cat-themed meme coin on Solana, built around inspiration from Zcash’s (ZEC) privacy features. The mascot? An anonymous cat wearing a brown paper bag over its head. Odd look. The token charges a transaction or transfer tax of about 3%, and that money is used to buy bridged ZEC on Solana and airdrop it to ZCAT holders. So yes, it functions like a dividend mechanism.
BlockBeats, the outlet that reported this, warned that meme coins often have no real-world utility and can swing wildly in price. Its message to investors was simple: be careful.