Tenev's One-Liner Sends Robinhood's Cat Mascot Token Into 1100% Orbit 🐱

A new memecoin built around Robinhood's cat mascot, CASHCAT, surged more than 1100% within 24 hours after Robinhood CEO Vlad Tenev publicly endorsed memecoins on the company's newly launched blockchain. The token, which launched as the mascot of the Robinhood app, tapped a market capitalization of more than $150 million and a price above $0.15 in its first day of trading, according to Lookonchain data, before consolidating near a $124 million market cap.

The move came after Tenev posted on X that "Robinhood Chain will be the best chain for RWA, but it's great for memes as well," and followed CASHCAT's official X account. Robinhood Chain launched on July 1 with a focus on real-world assets, on-chain finance, analytics and retail products such as Trump Accounts; memecoins were not part of the original roadmap. Tenev's post marked the first major memecoin story on the chain since its debut.

On-chain data captured by Lookonchain showed a single wallet, identified as 0xeee2, buying 17.5 million CASHCAT tokens for $86 shortly before the surge. The trader later sold 3.6 million CASHCAT for $390,500 and still holds 13.8 million CASHCAT, valued at roughly $1.24 million at the time of writing, for a combined position of about $1.6 million.

CASHCAT's market capitalization has fluctuated sharply, climbing to roughly $150 million before retracing to about $120 million and consolidating near $124 million. The episode marks one of the first notable memecoin breakouts on the Robinhood-aligned chain and adds to a broader rotation of speculative interest into newly issued tokens on the network.