One of the most remarkable trades in meme coin history unfolded on CASHCAT, where a trader turned an $85 purchase on June 18 into $2.3 million at the peak, three weeks later. Another wallet captured by Lookonchain spent just 0.49 ETH (~$838) to buy 15.04 million CASHCAT tokens and sold them for 580 ETH, netting over $1 million—though holding longer could have yielded up to $2.9 million.
The frenzy is reflected in derivatives data: open interest spiked 355.07% to $5.48 million, while trading volume jumped 262.74% to $16.74 million. On July 11, CASHCAT trades near $0.1964, consolidating inside a steep ascending channel after briefly spiking above the upper trendline to $0.2200. The channel’s rising floor around $0.1600 now serves as critical support.
The extreme volatility and whale activity highlight both the allure and risk of speculative meme coins. As large wallets continue to accumulate, retail traders are closely watching for further price swings, mindful that such rapid gains can reverse just as quickly.
