ZCAT, a meme token in the Solana ecosystem, rose 76.33% over the past 24 hours, with its market capitalization standing at $68.17 million, according to GMGN market data cited by BlockBeats on Oct. 7. The token is built around a cat-themed concept and draws inspiration from the privacy narrative associated with Zcash (ZEC). Its mascot is described as an anonymous cat wearing a brown paper bag over its head. ZCAT also features a token mechanism tied to an about 3% trading or transfer tax. The proceeds are used to buy bridged Zcash (ZEC) on Solana and distribute it to holders through airdrops. BlockBeats added a risk reminder, saying that meme coins often lack practical use cases and can see sharp price swings, and urged users to stay cautious when investing.
ZCAT, a meme coin in the Solana ecosystem, gained 76.33% over the past 24 hours, bringing its market capitalization to $68.17 million, according to GMGN market data cited by BlockBeats on Oct. 7.
ZCAT’s concept
ZCAT is a cat-themed meme token on Solana. It takes inspiration from the privacy concept associated with Zcash (ZEC), and its mascot is an anonymous cat with a brown paper bag over its head.
How the token mechanism works
According to the description in the report, ZCAT uses an about 3% trading or transfer tax to buy bridged Zcash (ZEC) on Solana, which is then airdropped to holders.
BlockBeats also reminded users that meme coins often have no real use case and can be highly volatile, urging caution for investors.
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