Why Aren’t There More Cat Memecoins? The Rise of $SMUDGE 🐈 & $GRUMPYCAT!
After the rise of DOGE, I was almost certain the crypto world would launch a cat coin. But, strangely nothing really has materialized until now. $SMUDGE is a memecoin based on the iconic ‘Woman Yelling At Cat’ meme and $GRUMPYCAT is, well, based-off Tardar Sauce, the internet cat with ‘resting grumpy face’ syndrome.
Let’s start with $SMUDGE
The original ‘Woman Yelling At Cat’ meme features a screen capture of Taylor Armstrong screaming in the show The Real Housewives of Belverly Hills and an unrelated picture of a cat sitting at a dining table with a snarky expression. Here’s a random iteration of the meme we all love.
Enter $SMUDGE.
You can visit the website (click image above) and access the story—or lore, whatever. The site also features official links to their Telegram community, Twitter, and TikTok. You can purchase $SMUDGE directly on the website or via Uniswap. (I’m not proposing you buy anything. Personally, I won’t be apin’ into any memecoins; I just find the trend interesting.) The white paper is a PDF uploaded on Google Drive and features the memecoin’s overall philosophy and information about their tokenomics.
For chart data, I’d recommend using DEXtools to track price movement. It’s been a daily go-to for most people in the memecoin space.
Here’s the coin’s performance at the time of writing.
My chart analysis skills are not there yet, so I won’t be doing any deep dives. I, however, will say this: you don’t have to be a trader to know that memecoins arehighly speculative. Proceed at your own risk. For everyone else that’s just as fascinated by the lack of cat memecoins out there, read on.
What’s everyone saying on CT?
It’s no PSYOP (see my other article “Who is ben?”) but it’s trending quite steadily at the moment. If you scroll through the tag, you’ll need to get past the fake PSYOP airdrop posts to see what people are saying about the memecoin. Truth be told, most of the posts are cat memes. As expected. It baffles me still that there hasn’t been a successful cat meme coin up to this point. And, even though it’s still early, I don’t think there will be.
The official Twitter account features a paid cameo by Taylor Armstrong.
But apart from that there doesn’t seem to be much traction on their official account.
What about other channels?
Twitter is a PEPE and PSYOP mindfield so a good practice is to check a memecoin’s Telegram, if they have one. Here’s a random screen capture of SMUDGE LORD’s Telegram group chat.
There’s not much activity apart from memes again. As expected. But, it’s a fun mindless 5-minute scroll through.
Should I buy $SMUDGE?
First and foremost, DYOR and stop FOMO’ing into things. Crypto to some degree has been driven by FOMO and I think it’s been fun, but, at a certain point, new companies will need to think of a better marketing strategy. My fear is that the more this happens, the less adoption we’ll see in the industry.
Anyhow, there was not anything spectacular about the project … apart from the memes. And, I guess that’s all the project really needs. If $PEPE proved anything memes win.
Grumpy Cat RIP
Tardar Sauce or Grumpy Cat has been gone since 2019, but the meme lives on. With “Resting Grumpy” face, it works in every context and it’s no surprise that someone launched $GRUMPYCAT.
A lot of the memecoins don’t offer utility. GRUMPYCAT leans into this since it fits the Grump Cat meme’s overall persona. The team’s done a good job of capturing the correct tone and voice.
What about the numbers?
At the time of writing, $GRUMPYCAT has less trading volume than $SMUDGE. $GRUMPTCAT is the newer than $SMUDGE, so it may take several days (or hours) to see if one of them takes off.
How’s it doing on CT?
GrumpyCat has seem to take off on Twitter. At the time of writing, it’s 5x the number of Tweets for $SMUDGE. Many of the posts, unfortunately, are PSYOP scam posts.
The official Twitter has less followers than $SMUDGE but feature a lot of the same … yeah, memes.
Basically, flooded with more or less what you see above. A little bit of the grumpy cat attitude with custom illustrations (probably MidJourney).
So we buying some cat memecoins?
No, just enjoy the show. First, I can’t tell if the engagement is completely fabricated or not. Second, I think these projects are going off what I was thinking the whole time, “Why isn’t there a successful cat meme token?” But just creating something because there isn’t a prime example of it usually doesn’t work unless you’re the first one to do. Basically, PEPE.
If you’re going to succeed in this memecoin market, you’ll need to find a different way to get people on board. Look at ben.eth and what he’s done with $BEN and $PSYOP. ben.eth used the principles of attention economy to keep his audience hostage throughout the $BEN/$PSYOP rollercoaster.
I could be wrong about the whole thing, btw. Maybe one of these coins will rise to the occasion and become the de facto cat memecoin. But, I highly doubt it.
