MOG Outshines Memecoins as Cult Launches with $845M FDV

Cult, a new memecoin, surpassed its initial valuation of over $600 million within hours of its launch. Competition in the Memecoin ecosystem has been further shaken by MOG, which has surpassed POPCAT and holds the title of the largest cat-themed memecoin in terms of market value.

Dexscreener reports that Cult, an Ethereum-based memecoin, debuted on December 5, with the coin initially reaching a fully diluted valuation peak of $845 million before settling at around $630 million. FDV represents the value of a crypto project’s total supply if all its tokens were in circulation in the market and helps investors gauge the health of a project. Similarly, Mogcoin (MOG), a memecoin originating from cat memes, has surpassed Popcat (POPCAT) with a market cap of $1.46 billion. This makes it the largest token in the cat coin category.

Launch of the cult

Remilia Corporation, creators of the Milady Maker NFT collection, were making cryptic jokes on social media months before the token’s launch. According to Charlotte Fang, one of the leaders of Remilia Corporation, the Cult token is not only a monetary but also an ideologically driven ecosystem. He described it as “fundamentally different.” This extraordinary event occurred right after ICOs raised $20.5 million in pre-sale funds; The team structured the token to emphasize long-term community engagement.

Cult memecoin listed on OX.FUN, retweeted by Charlotte Fang. MOG token takes over POPCAT

According to CoinMarketcap, approximately 64.26% of investors have balances ranging from $0 to $1K, with significant growth in the 2.49% brackets of $100K, indicating similarity between retail and large investors. A balanced distribution of whales accounts for 23.88% of the supply, while smaller holders own 76.12%, reflecting high confidence in the token. In addition, the growth rate of medium-term investors was 64.4%, traders 28.65% and long-term investors 6.91%. Even as activity increases, transaction fees remain low, helping to ensure efficient trading and liquidity.

The general trend of MOG is reflected by increasing market capitalization, balanced investor participation at all levels and increasing market interaction. The emergence of memecoins such as Cult and MOG demonstrates the rise of memecoins as investment vehicles for community-based ecosystems, despite their inherent volatility and risks.