Crypto News

Upbit Lists Cat in a Dogs World (MEW), Price Surges 28%

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Korea’s leading crypto exchange, Upbit, has officially listed the meme token Cat in a Dogs World (MEW) on September 19.

Built on the Solana network, $MEW is now available for trading in both BTC and USDT pairs. Deposits and withdrawals for the token will be enabled three hours after the announcement, offering traders immediate access to the asset.

Following the listing, $MEW saw an impressive 28% price surge, jumping to $0.0053. This rapid growth aligns with a common trend seen in past Upbit listings, where newly listed tokens often experience significant price increases on day one. For example, $CKB previously saw a sharp spike after its Upbit debut.

Due to regulatory restrictions in Korea, average investors may find it difficult to engage in arbitrage trading across multiple exchanges. However, market makers (MMs) and centralized exchange (CEX) platforms are better positioned to take advantage of these price fluctuations.

$MEW Price Action To Watch 

$MEW’s initial performance mirrors that of other tokens listed on Upbit, with rapid price appreciation immediately following the announcement. Given Upbit’s strong foothold in the Korean market, further volatility is expected as traders react to the new listing. Investors should remain vigilant and closely monitor $MEW’s market trends in the coming days, as this volatility could present both opportunities and risks.

With Upbit’s considerable influence in the region and $MEW’s rapid post-listing surge, it will be interesting to see how the token’s price stabilizes in the near future and whether it can maintain its upward momentum.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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