Crypto Influencer & Trader Ansem's Cat-Inspired Meme Coin "Hobbes" Soars to $100M Market Cap
Hobbes coin on Solana surges from under $1M to $100M market cap in just two days, demonstrating the rapid pace of meme coin mania.
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The meme coin market is once again seeing explosive action. A new cat-themed meme coin on Solana called Hobbes has surged in value, reaching a jaw-dropping $100 million market capitalization in only two days. This remarkable growth propelled the coin's 24-hour trading volume to surpass $140 million, exceeding even the total daily volume of the entire Polygon blockchain.
Hobbes' meteoric rise is attributed to its namesake – the cat of the popular crypto trader and influencer Ansem. Ansem has gained notoriety in this market cycle for his uncanny ability to predict trends – from meme coins to the incredible rise of Solana, which hit his target price of $200. His recent support of Dogwifhat ($WIF) fueled its surge from a sub-$1 million market cap to an astonishing $4 billion, solidifying its position among the top three meme coins.
Ansem's influence within the crypto community is undeniable. The mere discovery of his cat's name on Instagram triggered the launch of the Hobbes coin, and its subsequent rocket ride to a $100 million market cap is a clear testament to the sway he holds over the market.
This surge in cat-themed meme coins echoes the recent success of $MEW, which climbed to a market capitalization exceeding $800 million, tantalizingly close to the $1 billion mark.
Market Volatility and Influencer Impact
The Hobbes phenomenon highlights the extreme volatility of the meme coin sector and underscores the powerful impact influencers wield within the crypto space. Investors should remain aware of the inherent risks involved in meme coin trading and exercise caution before diving into these highly speculative assets.