Popcat SOL (Meme Coin)

Submission 243

Part of a series on Meme Coins. [View Related Entries]

About

Popcat SOL, also known as $POPCAT, is a community-owned meme coin on the Solana blockchain, a cryptocurrency popular for decentralized applications and NFTs due to its ability to handle thousands of transactions at low fees. The coin is named after the meme Pop Cat, which features a video of a low-resolution cat opening and closing his mouth in a large O shape while making a popping sound. $POPCAT was introduced in 2022 before several POPCAT holders ousted the original developer for market manipulation in December 2023. Throughout 2024, POPCAT has overtaken several competing meme coins, including $BONK and $MEW, to be valued at $1.35 in late October 2024.

History

The original website for POPCAT on SOL was popcat.meme.^[1] However, the site was abandoned despite $POPCAT reaching a $50 million market cap by December 2022 due to an ownership quarrel between the coin's original developer and the community that held $POPCAT.

Market Performance

According to Coinbase,^[5] the total supply of Popcat (SOL) tokens is 979,973,184.6 POPCAT, which is also the current circulating supply as of late October 2024. The high number of tokens in circulation purportedly ensures that the coin is easy to trade. As of October 23rd, 2024, its market cap is $1.3 billion. At its peak in mid-October 2024, the coin reached a valuation of $1.54.^[6]

Online Presence

The official X^[4] account for POPCAT on SOL was created in December 2023 after X^[2] user @jpeggler bought the token update rights from the coin's original developer for $35,000 in USDC.

According to X user @jpeggler^[3] in a tweet from December 22nd, 2023, the original developer was keen on "rugging" the coin and releasing an NFT collection to raise 5,000 SOL for himself, under the threat of defacing the token's metadata.

On October 12th, 2024, Popcat on SOL garnered significant attention after Vitalik Buterin, the creator of Ethereum (ETH), traded several of his meme coins for ETH, including Popcat and another coin inspired by Moo Deng, to net over $2.4 million in ETH. The X^[7] account @lookonchain tweeted about the trade on October 12th, gathering over 200,000 views in 11 days.

Pop Cat

Pop Cat refers to a series of videos that use two images of @XavierBFB's cat Oatmeal, one with its mouth closed, and the other photoshopped as if the cat is holding it wide open in the shape of an O. The images have been used to create videos in which the cat lip syncs various songs, similar to Baby Eats Camera memes.

On October 9th, 2020, Redditor Skettidragon, a friend of @XavierBFB, posted an edit based on the photographs to the /r/MEOW_IRL subreddit, where it gained over 120 upvotes in one month.