Following the previous surge of Catcoin replacing Dogecoin in the market, the Meme coin market recently witnessed a "Cat King Battle." Firstly, due to IP copyright issues with their logos, POPCAT and Shark Cat (token SC) faced FUD from Catcoin users. However, with the help of lawyers, the Shark Cat team obtained the copyright from the cat owner, leading to a rebound in the Shark Cat (SC) token price. Currently, POPCAT has yet to resolve the related issues, prompting some users to transfer part of their holdings to SC.

At the same time, the recent resistance against VC has also affected the meme coin market, particularly the cat-themed tokens. Users are showing support for the meme cat coins in their own way. Some users believe that POPCAT and MICHI, as well as Shark Cat, represent the community meme coins, while similar projects like MEW and MANEKI are suspected to have VC support, indicating internal strife within the cat-themed Memecoin community.

In terms of market capitalization rankings, POPCAT remains the top-ranked token with over 45,000 holders, demonstrating strong community power. Since its deployment on April 8th, MICHI has experienced rapid market capitalization growth, catching the attention of many.

POPCAT, SC Face FUD Due to Copyright Issues

POPCAT is currently the highest market cap cat coin, with a market cap exceeding $440 million as of May 9th, according to CoinGecko data. From late March to mid-April, its market cap dropped from $356 million to $120 million, but it then rose by approximately $480 million from mid-April.

Shark Cat (SC) is also one of the outstanding and mature cat-themed meme coins. A significant increase occurred on the evening of May 1st, with SC rising from $0.045 to $0.1245 on the evening of May 2nd, representing a staggering 176.7% increase.

The growth of Shark Cat is mainly attributed to the team securing the rights to use their logo. Recent events surrounding this issue have led to much FUD and dramatic events. The owner of Shark Cat (real name Nala) requested payment for the use of the IP and sought to control the use of her cat image.

Shortly after, the team resolved the FUD issue by obtaining Nala's intellectual property rights. This also indicates that Shark Cat may demonstrate even greater growth potential and advance further.

Meanwhile, POPCAT also faced FUD due to the lack of IP copyright. The owner of this meme cat even expressed opposition to cryptocurrency.

Xavier, the owner of Popcat, stated on platform X: "My cat is my cat, and I am absolutely against cryptocurrency."

However, some users continue to express unwavering support for POPCAT: "It's obvious that these people are from other cat communities, hoping for a rotation."

The popularity of POPCAT has not diminished due to FUD. From April 21st to April 27th, Google Trends showed a record high level of interest in the topic of Popcat, surpassing historical peaks.

However, some users chose to transfer assets from POPCAT to SC amid the copyright controversy. One user stated: "$POPCAT was fudded just like $SC with IP issues, reportedly by MewsWorld (MEW) fud, unfortunately, the money eventually flowed to $SC. $SC is currently the only meme that has resolved the issue of using real cat IP, so I moved some of my $POPCAT position to $SC."

Anti-VC Sentiment Sweeps Catcoin, Long-standing VC Woes?

In the meme coin market, a recent Twitter discussion post by Eddy Lazzarin, CTO of venture capital firm A16Z, regarding the value of meme coins sparked controversy. Eddy stated: "Memecoin is changing the public's, regulators', and entrepreneurs' perception of cryptocurrency. At best, it looks like a risky casino, or a series of false promises covering up the casino. This deeply affects the adoption of crypto technology, regulations, and the behavior of builders. I see this destruction every day."

Many community members immediately expressed opposition, stating, "Meme is our chance to overturn big institutions. I like Meme, even though most memes will cost me money, I only need to catch one to greatly improve my life. But with projects invested by large institutions, I have to wait for days to get a meager return."

This discussion has also impacted the cat-themed token market. In the dispute between VC and the cat community, it currently appears that pure community memes have achieved a temporary victory.

User @free_electron0 stated: "Now every time you tweet $POPCAT, you will receive a large number of bot replies with the same FUD message, telling you to buy maneki or mew. Imagine being so afraid of a token that you have to use such a lazy strategy. VC is in trouble, and Degens win again."

From the discussions on Twitter, it is evident that users consider POPCAT, MICHI, and Shark Cat to be community meme coins, while MEW and MANEKI face opposition from many users, indicating their association with VC, with VC holding a large portion of the tokens. Although the extent of VC involvement in meme coins is not easily confirmed, the battle for dominance in the cat-themed meme coin market continues to intensify, leading to constant changes in their respective rankings.

As of May 7th, over the past two weeks, the three tokens with the largest market cap increases against SOL trading pairs are Michi (+547%), SC (+216%), and POPCAT (+81%). Among the top five tokens with the highest wallet percentage increase over the past two weeks, Michi (+97%) ranks first, POPCAT (+21%) ranks second, and SC ranks fourth (+7%).

Notably, MICHI has performed well, with its market cap rising from $3 million to $110 million since its deployment from April 8th to May 8th. At the time of writing, Popcat still has an astonishing 45,000 token holders, and this number continues to grow.

As of 9:00 AM on May 9th, there has been a slight overall price correction for cat-themed meme coins. According to CoinGecko data, the top 10 cat-themed meme coins by market cap are POPCAT ($442 million), MEW ($318 million), MOG ($177 million), WEN ($125 million), TOSHI ($120 million), MANEKI ($54.16 million), MEOW ($35.51 million), CAT ($34.60 million), $CWIF ($28.13 million), and PAJAMAS CAT ($21.09 million).

As of 9:00 AM on May 9th, several popular tokens within the past 6 hours on Dexscreener's homepage are cat-themed or related to cats, such as CATGPT, CRODIE, PUSS, CATZILLA, and others.

From IP disputes to resistance against VC coins, the narrative within the Catcoin community has clearly entered the next stage. As the "Cat King Battle" rages on, users will choose which targets to support, and we eagerly await the continuation of this exciting story.

Related reading: "Meme Battle of Cats," Who Will Be the First Catcoin to Emerge?

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