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CateCoin drops by 35% because of no Binance Listing – Is it Dead?

CateCoin drops by 35%
CateCoin drops by 35%

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The potential listing of lesser-known cryptos on major cryptocurrency exchanges is a major reason behind the rise in their price. And when that promise doesn’t come to pass, the crypto asset suffers. The same happened with CateCoin. The cryptocurrency dropped by 35% as it failed to get listed on Binance.

But that’s not the worst, as the cryptocurrency crowd was quick to band together and call out CateCoin because the announcement that it might get listed on Binance was the primary reason for its recent uptick in the market.

The coin has formed the same pump and dump pattern as last year, a major red flag.

What is the reason behind the recent CateCoin drop?

Over the past few days, the crypto sphere was prepping for the big news by CateCoin. Anticipation started to build that maybe this cryptocurrency is getting listed on Binance.

Binance is the world’s leading cryptocurrency exchange and has historically pumped the price of cryptocurrencies on listing days.

The CateCoin community was hoping for the same to happen for this lesser-known cryptocurrency. To make matters worse, the developers pushed the news announcement back to stew the community and create hype. They hinted that this new announcement would take the CateCoin to new heights.

However, it turned out to be nothing more than a dud. The community was expecting a Binance listing or listing on a major cryptocurrency exchange. What it instead got was the announcement of a new domain.

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Dumping the Cions: The Crowd Responded

CateCoin investors were baffled by this announcement and decided to dump their holdings to exist from their project. Firmly believing that this project is nothing more than a rug-pull, many crypto investors have resorted to not returning to CateCoin.

Will CateCoin be listed on Binance

CateCoin developers have insisted that this cat-themed memecoin will be coming to Binance since last year. In May 2021, they tweeted that they had deposited 1% of the token supply in the Binance wallet for a future Binance listing.

That said, at the time of writing, CateCoin stands at #2796 based on Market capitalization. Furthermore, it has a self-reported circulating supply. That is, there is no way to confirm the claims made by CateCoin developers. Binance, on the other hand, has a history of adding cryptocurrencies with real possibilities. Also, the CateCoin price hasn’t been on the high side since the beginning of this year. Due to these factors, it is highly unlikely for Binance to list this cryptocurrency.

Tamadoge: A Better Memecoin by a Long Shot

If you are looking for a better memecoin to invest in, Tamadoge is a much better option. This utility cryptocurrency is the foundation of a play2earn ecosystem that will reward you through skill-based gameplay.

Tamadoge is one of the best presale projects in the market, having crossed the beta phase of its presale within 16 days. The presale has raised upwards of $2.2 million till now and is continually gaining steam in the market.

Interested parties can learn more about this cryptocurrency via the official Telegram group. This cryptocurrency has made all the positive waves in the market, and unlike CateCoin, which only hinted at CEX listing, Tamadoge has confirmed that it will get listed on LBank after launch in Q4 2022.

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