According to GMGN data cited by ChainCatcher, meme coin CATE saw a sharp intraday collapse of more than 80%, with its market capitalization at one point dropping to about $10 million before recovering to roughly $37.26 million. The move came after an earlier clarification tied to the token’s narrative: DOGE’s owner said CATE had no connection with them and stated that only DOG and COCORO were recognized as official projects. ChainCatcher noted that meme coin prices can swing violently over short periods, with large gains and losses possible in a very limited time. The report also warned readers to pay attention to liquidity conditions and position risk when trading highly volatile meme assets.
ChainCatcher reported, citing GMGN data, that meme coin CATE plunged more than 80% over a short period. Its market capitalization briefly fell to about $10 million and was later quoted at around $37.26 million.
In an earlier update, DOGE’s owner said CATE was not related to them and added that only DOG and COCORO were recognized as official projects.
ChainCatcher said meme coins can post sharp moves in a very short time and warned of liquidity risk and position risk.
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