IP Dispute and Resistance Against VCs: The "Cat King Rivalry" Erupts Within the Meow Coin Community
TechFlow Selected TechFlow Selected
IP Dispute and Resistance Against VCs: The "Cat King Rivalry" Erupts Within the Meow Coin Community
POPCAT and Shark Cat faced FUD from cat coin users due to IP copyright issues surrounding their logos.
Navigating Web3 tides with focused insightsBy: Weilin
Following the previous surge of cat-themed tokens replacing dog-themed ones at the forefront of market trends, the meme coin space has recently witnessed a "Cat King Battle." POPCAT and Shark Cat (SC) initially faced FUD from the cat-meme community over logo IP rights issues. However, Shark Cat later secured official copyright authorization from the cat's owner with legal assistance, triggering a price rebound for SC. Meanwhile, POPCAT has yet to resolve its IP issue, prompting some users to shift holdings toward SC.
At the same time, the recent backlash against venture capital (VC) influence is also impacting this niche segment of cat-themed meme coins. Users are actively supporting community-driven meme coins as a form of resistance. Some believe that POPCAT, MICHI, and Shark Cat represent truly community-led projects, while others like MEW and MANEKI are suspected of having VC backing—highlighting an internal conflict within the cat-themed memecoin ecosystem.
In terms of current market cap rankings, POPCAT firmly holds the top spot, boasting over 45,000 holders and demonstrating strong community support. MICHI, launched on April 8, has seen rapid market cap growth, turning heads in the sector.
POPCAT and SC Hit by Copyright-Related FUD
POPCAT is currently the highest-market-cap cat-themed coin. As of May 9, CoinGecko data shows its market cap exceeding $440 million. From late March to mid-April, its market cap dropped from $356 million to $120 million, but then rebounded sharply, rising approximately $480 million since mid-April.
Shark Cat (SC) is another standout performer among mature cat-themed meme coins. A notable surge occurred on the evening of May 1, when SC jumped from $0.045 to $0.1245 by the evening of May 2—an increase of 176.7%.
This growth was primarily driven by the Shark Cat team securing usage rights to their logo. The issue had sparked significant FUD and dramatic developments, as Nala—the real-life owner of the shark cat—demanded compensation for IP use and sought control over her cat’s image.
Shortly after, the team resolved the FUD by officially obtaining intellectual property rights from Nala. This development suggests Shark Cat may have greater growth potential and could move further ahead.
Meanwhile, POPCAT has also been hit by FUD due to lacking IP rights. The original popcat's owner has even publicly expressed opposition to cryptocurrency.
Xavier, owner of Popcat, said on X: "My cat is my cat and I am absolutely against cryptocurrency."
Nonetheless, some users remain steadfastly supportive of POPCAT: "Clearly, these people are from other cat communities trying to rotate attention away."
Despite the FUD, POPCAT's popularity hasn't waned. From April 21 to April 27, Google Trends showed interest in "Popcat" reaching a new all-time high, surpassing previous peaks.
However, some users have shifted assets from POPCAT to SC amid the copyright controversy. One user commented: "$POPCAT got hit with FUD over the same IP issue as $SC—rumored to be pushed by MewsWorld ($MEW). Unfortunately, money ended up flowing into $SC. $SC is now the only meme coin that has resolved real-cat IP rights, so I moved part of my $POPCAT position into $SC."
Anti-VC Sentiment Sweeps Through Cat Coins—Is the Era of VC Dominance Ending?
In the meme coin market, a recent tweet by Eddy Lazzarin, CTO of VC firm A16Z, ignited controversy. He stated: "Memecoins have changed how the public, regulators, and entrepreneurs view cryptocurrency. At best it looks like a risky casino, or a series of false promises masking a casino. This deeply impacts crypto adoption, regulation, and builder behavior. I see this damage every day."
Many in the community immediately pushed back, arguing: "Memes are our chance to flip the script on big institutions. I love memes—even though most make me lose money, catching just one can drastically improve my life. But investing in VC-backed projects? I'd wait days for a tiny return."
This debate has spilled into the cat-themed token niche. In the clash between VC-linked and community-driven cat coins, pure community memes appear to have achieved a temporary victory.
User @free_electron0 remarked: "Now every time I post about $POPCAT, I get swarmed by bots repeating the same FUD message telling me to buy maneki or mew. Imagine being so afraid of a token that you resort to such lazy tactics. VCs are struggling—degens win again."
Twitter discussions reveal that users perceive POPCAT, MICHI, and Shark Cat as community-led meme coins, while MEW and MANEKI face widespread skepticism, accused of being VC-influenced with large insider token allocations. While definitive proof of VC involvement in meme coins remains elusive, the battle for dominance among cat coins continues to heat up the sector and drive shifts in rankings.
As of May 7, over the past two weeks, the three tokens with the largest market cap gains based on SOL trading pairs were Michi (+547%), SC (+216%), and POPCAT (+81%). Over the same period, in terms of wallet growth percentage, Michi led with +97%, followed by POPCAT at +21%, and SC ranked fourth at +7%.
Notably, MICHI has performed impressively—since its deployment on April 8 to May 8, its market cap surged from around $3 million to $110 million. At the time of writing, POPCAT still maintains an impressive 45,000 token holders, a number that continues to grow.
As of the morning of May 9, cat-themed meme coins saw a general price correction. According to CoinGecko, the top 10 cat-themed coins by market cap were: POPCAT ($442 million), MEW ($318 million), MOG ($177 million), WEN ($125 million), TOSHI ($120 million), MANEKI ($54.16 million), MEOW ($35.51 million), CAT ($34.6 million), $CWIF ($28.13 million), and PAJAMAS CAT ($21.09 million).
As of 9 a.m. on May 9, Dexscreener's homepage featured several cat-themed or cat-related tokens among the most popular over the past six hours, including CATGPT, CRODIE, PUSS, and CATZILLA.
From IP disputes to anti-VC sentiment, the narrative within the cat coin community has clearly entered a new phase. As the "Cat King Battle" rages on, which projects will users choose, and what exciting stories will unfold next? Only time will tell.
Join TechFlow official community to stay tuned
Telegram:https://t.me/TechFlowDaily
X (Twitter):https://x.com/TechFlowPost
X (Twitter) EN:https://x.com/BlockFlow_News
PANews
