Ethereum ETH/USD co-founder Vitalik Buterin sparked the launch of yet another unusual memecoin in the most unsual of manners: he tweeted, "We'll learn to meow together. We'll meow together." - in Chinese.
What Happened: The tweet in question was a reply to another tweet, partially in Chinese, that had no cat reference at all:
memecoin holders be like
— vitalik.eth (@VitalikButerin) January 30, 2024
我们一起学猫叫，一起喵喵喵喵喵
Buterin's response can only be interpreted as a joke, but the memecoin launch it spawned was anything but. With the ticker "喵喵喵喵," Chinese for " meow meow meow meow," the memecoin raced to a market capitalization of over $5 million within the first four hours of launching.
An endorsement from Tron TRX/USD founder Justin Sun may have helped - Sun tweeted, "Whoever issues Meow Meow Coin will immediately get it listed on @Poloniex," his cryptocurrency exchange.
Why It Matters: Even within the curious world of memecoin launches, this particular instance stands out.
The most successful memecoins have always had English tickers - a multi-million "Chinese" memecoin would be somewhat of a first.
Moreover, dog-themed memecoins have dominated the market so far, from established giants like Dogecoin DOGE/USD and Shiba Inu SHIB/USD to "new kids on the block" like Dogwifhat and Bonk BONK/USD. "Dogecoin killer" candidates have been dog coins thus far, with the notable exception of Toshi, the cat-themed memecoin on Coinbase's Layer-2 Base chain.
Cryptocurrency traders on social media immediately jumped on the trend. WEN, the Solana-based memecoin that airdropped its way to a $150 million valuation, retweeted Buterin's post with "Meow."
Trader Eric Cryptoman sees good things coming for "Meow:"
Justin Sun & Vitalik are both bullish on the chinese cat coin 喵喵喵喵喵.
— Eric Cryptoman (@EricCryptoman) January 30, 2024
What happens when China wakes? https://t.co/VfL356AzDL
What's Next: Frankly, no one knows what's next for "Meow" but another memecoin launch is often only one Elon Musk tweet away.
Read Next: Forget GameStop Stock, Now There's A GameStop Memecoin And It's Worth Millions
Photo: Shutterstock
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