Raydium Cat (RAYCAT), a meme coin on Solana, briefly pushed its market capitalization above $15 million on Sept. 11, setting a new all-time high, according to GMGN data. The token was later quoted at $14.5 million, with a 24-hour gain of 350% and trading volume of $3.4 million over the same period. Minutes before the move was reported, Fomo said on its official channel that Raycat had been listed and verified on the platform. RAYCAT was launched on StonkFun and is paired directly with RAY. Under its stated design, a 3% tax is charged on each transfer, and the proceeds are distributed proportionally to holders in the form of RAY rewards. BlockBeats also said StonkFun’s ecosystem flywheel continues to use platform revenue to buy back and burn the token. In simple terms, holding RAYCAT allows holders to automatically receive Raydium’s native token, RAY. BlockBeats added a caution that most meme coins lack practical use cases and can see sharp price swings, urging investors to remain careful.