Overview
- The meme token CashCat, launched on Robinhood Chain, erupted in trading on July 8–9 with 24‑hour volume topping roughly $138 million and price briefly reaching about $0.1418.
- On‑chain trackers showed multiple wallets that invested under $1,000 turning into million‑dollar positions after huge percentage gains and partial selloffs by early holders.
- Robinhood CEO Vlad Tenev’s public comment highlighting the chain’s openness to meme tokens helped focus trader attention on projects built on the new Layer‑2 network that went live July 1.
- Analytics firms flagged a wallet labeled “Ansem‑2” that bought roughly $233,000 of CashCat, but the link to the trader Ansem is based on transaction patterns and remains unconfirmed.
- Market‑cap and peak figures vary by data source and snapshot time, and the episode highlights how token launches on new chains can create extreme, short‑term volatility and limits to on‑chain attribution.