CASHCAT, a Robinhood-linked meme token, reached a new all-time high above $0.31 on MEXC perpetual futures on Sept. 4 before correcting roughly 15 percent. The move extends a rally from below $0.05 in early August, part of a broader speculative surge across next-generation Robinhood meme tokens including PONS, Basecat, and Index.
CASHCAT surpassed $0.31 on MEXC perpetual futures Sept. 4, a new all-time high after a near-continuous rally from August lows. The Robinhood-linked meme token peaked near $0.315 before pulling back to about $0.25, a daily decline of roughly 15 percent at the time of the chart.
The move is part of a broader speculative rally across next-generation Robinhood meme tokens. PONS remains one of the most well-known names in the sector with a reported valuation above $700 million, while Index trades near $75 million and Basecat around $58 million. MOS, Plumber, and HYPE have also gained traction as speculative demand concentrates on the newest generation of these assets, extending a cycle that has drawn retail attention to Robinhood-linked tokens throughout August.
CASHCAT's market value reached approximately $314 million at the peak before declining to about $276 million, according to recent tracking data. The token has risen from below $0.05 in early August, leaving it significantly above its major moving averages even after the correction. The 20-day EMA sits near $0.186, while the longer available moving average is about $0.123 — a gap that illustrates how quickly price has deviated from the underlying trend.
The RSI has cooled to roughly 62 after repeatedly approaching overbought territory during the rally, allowing CASHCAT to stabilize. Volatility remains elevated, and the immediate technical question is whether the $0.23-$0.25 region can hold. Stabilization there could set up another attempt at $0.30 and the recently established ATH at $0.315. A breakdown would make a deeper retracement toward $0.19-$0.20 more likely.
While CASHCAT remains one of the biggest beneficiaries of the Robinhood meme rally, the MEXC correction demonstrates how quickly momentum can reverse following such a sharp expansion. The speculative nature of these assets, combined with leveraged perpetual futures positioning, carries elevated risk of sharp drawdowns. Traders monitoring the sector will watch whether the $0.23-$0.25 support zone holds in coming sessions, as a break below that level could accelerate selling pressure across the token's futures market and spill into peer tokens that have tracked CASHCAT's trajectory.
This article is for informational purposes only and does not constitute investment advice.
