One Trader's $85 CashCat Bite on Robinhood Chain Grew Into a $2.3M Claw-some Jackpot 🐱

A trader who spent roughly $85 to buy CashCat on Robinhood Chain just before the network's public mainnet launch now sits on an unrealized position worth more than $2.3 million, on-chain data shows. A wallet beginning in "0xeEE2" purchased about 0.05 ETH worth of the meme coin, or approximately 17.4 million CashCat tokens, on June 18. As of writing, the token trades near $0.138, giving the stack a market value above $2.3 million on a fully diluted basis of roughly $138 million.

That figure is down from CashCat's all-time high, when market capitalization briefly topped $142 million and the wallet's holdings approached $2.5 million, equivalent to a gain of nearly 3,000,000% from the initial outlay. The trader has been steadily taking profit along the rally, offloading about 4 million CashCat tokens for realized gains of approximately $585,000 according to DEXScreener, while still holding roughly 12.3 million tokens valued around $1.6 million.

CashCat's surge has coincided with a sharp pullback in another recently viral meme coin. The Black Bull, ticker ANSEM, a Solana token named after crypto personality Ansem, has climbed more than 190,000% over the past 13 days but is now down more than 37% from its all-time high near $0.44 and a market cap above $400 million. ANSEM last changed hands around $0.26, putting its market capitalization near $260 million as traders rotated into the new Robinhood Chain narrative.

Robinhood CEO Vlad Tenev fueled the activity with a post on X late Tuesday, writing: "While we're building robinhood chain to be the best chain for [real-world assets]... it works great for memes too." Data from DexScreener shows at least two other Robinhood Chain meme coins rank among the top 20 tokens by 24-hour trading volume. Elsewhere in the market, Bitcoin ($BTC) has gained nearly 10% over the past week.