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Cryptocurrencies are moving towards another dismal day, with BTC at $83,800 and altcoins experiencing losses below 5%. However, in the midst of this nightmare, an announcement from Coinbase led to a significant surge in a lesser-known altcoin, which experienced a remarkable increase of 350%.
Introducing Keyboard Cat (KEYCAT)
Coinbase has just announced the addition of Keyboard Cat (KEYCAT) to its altcoin listing roadmap. This altcoin, found on several centralized cryptocurrency exchanges, ignited a strong 15-minute candlestick following the announcement. It reached a peak price of $0.0193 shortly thereafter.
At the time of the listing announcement, the KEYCAT token price stood at $0.004185, marking a 350% increase compared to its peak, although it has since dropped by 70%. It remains 35% higher than before the announcement.
Market Implications of KEYCAT
Recently, Coinbase rapidly listed three altcoins from its roadmap, suggesting that the listing of KEYCAT might not be far behind. This serves as a good example of the risks associated with assets that have low liquidity in the market.
This token on the Base network is inspired by the meme “Keyboard Cat.” The rise in some centralized exchanges may have varied in intensity. Currently, it has a volume of $7 million and a market cap of $64 million, with its fully diluted valuation matching its current supply in circulation.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
