There's a new trending cat on Robinhood Chain

A new cat-themed memecoin is making noise on @RobinhoodCrypto's blockchain. Thinking Cat (@thinkingcatRH), trading under the ticker $HMM, has surged more than 100% in 24 hours to post a new all-time high, driven by social media momentum and rising on-chain activity. Over the past seven days, the token is up more than 2,000%, with its market cap sitting just under $20 million.

A New Challenger on Robinhood Chain

The rally puts $HMM firmly in the spotlight on a chain that has become known for its memecoin culture as much as its original purpose. Robinhood Chain launched on July 1 as a permissionless Ethereum layer-2 built for tokenized real-world assets, but it quickly became a hotbed for speculative trading. Its first major breakout asset was a cat-themed memecoin that surged above a $200 million valuation. $CASHCAT and other memecoins became the chain's first liquidity engine, raising questions about growth, risk, and long-term credibility.

$CASHCAT is the original token from the chain's first launchpad, while $HMM is the main cat coin from PONS, the current dominant launchpad on the network. Some traders are already drawing comparisons to the early days of Solana's memecoin scene. Just as the Solana ecosystem was ignited by BONK before Dogwifhat took the next major run, the Robinhood Chain trenches were ignited by $CASHCAT and may be followed by another cat as one of the main runners.

Is $HMM the Next $CASHCAT?

With a price increase of over 2,300% in the last seven days, Thinking Cat ($HMM) is outperforming both the broader cryptocurrency market and comparable meme tokens. The most active trading pair, HMM/WETH, is available on Pons.family, with over $2.4 million in 24-hour trading volume.

Whether $HMM can sustain this momentum remains to be seen. $CASHCAT itself offers a cautionary tale. The original cat-themed token that dominated Robinhood Chain's first trading days has recovered 120% over the past week, clawing back part of the slide that followed July's launch frenzy. Even as launchpad activity and many early tokens have faded, Robinhood Chain's total value locked has climbed to about $774 million and tokenized real-world assets to $100 million. The memecoin cycle on this chain has proven both fast-moving and unforgiving for late entrants.

As always with memecoins, the risks are substantial. Price action is driven by narrative and social momentum rather than fundamentals, and sharp reversals can follow peaks quickly.

Sources:
Thinking Cat (HMM) Price and Market Data - CoinGecko
CASHCAT Jumps 120% in a Week as Robinhood Chain TVL Hits $774 Million - CoinDesk
Robinhood Built an RWA Chain. Memecoins Took It. - Crypto.news