Is CashCat the Best Opportunity on Robinhood?
CashCat is one of the top meme coins on Robinhood right now. My question is: is there a better opportunity? If you let money sit in CashCat, what is the opportunity cost, and is there anything better that might be found? If I were you, that's what I'd be looking for. I have my own coin, and I'll be totally transparent about it. I'm going to compare the metrics on CashCat versus JERRY, and I'll let you decide for yourself, because this is helpful for learning how to research meme coins. To me, I only want to invest in meme coins where I see serious 100x potential. The problem with CashCat, in my view, is that it already has a $101 million market cap. I am skeptical that it's even going to be able to get any bigger than that. As I shared in Crypto Market Caps Are a Distraction. Only ICP Is Real, a big market cap number tells you less than people assume.
Market Cap Versus Followers
So let's compare CashCat versus JERRY, the meme coin I have, where I hold 5% of the total supply. CashCat is at $101 million. My meme coin is at $53,000. CashCat is 1,900x larger than my meme coin. But look at the number of X followers. There are 26,000 followers on the official CashCat X account, while I have 2,900 followers on mine. CashCat is only nine times bigger in followers, but 1,900 times larger in market cap.
DEX Liquidity and Liquidity Providers
Next is DEX liquidity. The DEX liquidity is about $2.7 million for CashCat, and the DEX liquidity on JERRY currently is $2,000, half of which, or maybe a little less, perhaps a third of which, is mine. CashCat's pool is 1,350x deeper, but the numbers show there's actually less liquidity per amount of fully diluted value on CashCat than there is on my, at this point, tiny coin. Then there are only three liquidity providers right now on mine, while on CashCat there are 116. So that's about 40 times as many liquidity providers, even though it is substantially larger. I went deeper on these Robinhood pools in Robinhood Chain Meme Coins Are Paying Insane DeFi Yields.
Trading Activity and the JERRY Story
Then we can look at trading activity. The CashCat volume right now makes sense: it's 2,000 times larger for the bigger market cap. However, JERRY had as much as $300,000 in trading volume the day I launched it. I also got hacked that day, and people stole the initial 20% I had, sold it, and destroyed it. So JERRY has a heck of a story right now in that it survived that. I've re-bought, and I have 5% of the supply now, which increases the overall amount I've invested in this by quite a bit. Some say JERRY is like the Harry Potter of meme coins at this point, which I wrote about in JERRY is the Harry Potter of Meme Coins on Robinhood, and I'd say it's incredible that I haven't yet given up on it, given how much I've already lost. And yet I'm not giving up on my community. I shared more about that re-buy in I Sold 1,000 ICP for JERRY on Robinhood.
Looking further down in the data, right now JERRY actually has 31 active traders while CashCat only has 450. So CashCat only has 14.5 times as many unique traders on a 1,900 times larger market cap. It only has 20 times as many actual trades on a 1,900 times larger market cap.
YouTube, Holders, and What the Ratios Say
There's also no official YouTube channel for CashCat, whereas I have six YouTube channels with 1.5 million views. The channel I'm putting this on has 28,000 subscribers and 465,000 views, all within the last six months. So I have one single coin on Robinhood. I also have an ICP meme coin called JBBJ, sitting around a $1,000 market cap, but that's on ICP, a totally different ecosystem, and there's almost no overlap between the two. I covered trading over there in I Tried Trading Meme Coins and It Was Horrible, Even on ICP.
Now look at the amount per holder. Right now, the market cap per follower is almost twice as much on CashCat. Then there's the market cap per holder. CashCat has 113,000 holders, while JERRY has 107 holders. So it would take a thousand times as many holders to get to where CashCat is, but the market cap ratio is almost 2,000. That means there are actually more holders per market cap with JERRY than with CashCat, roughly twice as many. And CashCat is effectively charging 212 times as much compared to my followers in market cap. Then on the 24-hour volume to liquidity, CashCat has a lot more turnover, which means more trading, but potentially less holding.
What I Look For in a Meme Coin
So compare the two of these, and I invite you to figure it out for yourself: if you have money in CashCat, that means you can't have it in some other small meme coin. We can see where the best money is to be made in meme coins, and I'm not necessarily saying it's mine. I'm just showing you this as a way to look at the difference, and to look at the metrics that will give you an idea of how things are valued. What I am in meme coins for, what I look for, is coins like mine: coins that have a real community, a real following, and a tiny market cap. To me, those are the best opportunities. If you find another coin like JERRY, I'd love to buy it, because I love getting in on stuff that has numbers like these. I'll let you decide. I'm not going to tell you what to think. I know what I think already, which is why I made this. So if you have money in CashCat, this is worth thinking about today. I asked the same question in Why Are You Still Holding Crypto You Hate?.
Thank you for reading. I'm also setting it up so JERRY is able to offer discounts: if you pay in JERRY on my website for the reviews I offer, there will be discounts available there. If you hold a meme coin and want my honest look at its numbers, send it in for a personal video review. More breakdowns like this are in my Crypto Reviews playlist. But at the end of the day, these are both meme coins on Robinhood and not real investments in terms of your financial future and all that, and this is not financial advice. I've made it clear where my position is, and I've shown you objective numbers that you can easily look at. Thank you very much, and I'm interested to see what you do after reading this.