Robinhood Chain memecoin CASHCAT surges 950% in 24 hours

Cashcat (CASHCAT), a memecoin based on the Robinhood Chain, is rallying on the back of its connection to Robinhood and community expectations. The Robinhood Chain is a Layer 2 network launched earlier this month by the U.S. stock and crypto trading app Robinhood (HOOD), built on Arbitrum (ARB). The community's anticipation for CASHCAT stems from the fact that Robinhood was reportedly called Cashcat in its early stages. The token's upward momentum was further fueled after Robinhood CEO Vlad Tenev recently followed a CASHCAT-related account on X. According to CoinMarketCap, CASHCAT is trading around $0.077, up approximately 950% over the past 24 hours, with a market capitalization of about $77 million.