CASHCAT Meme Coin Crashes Over 70%, Short Sellers Net $535K

The cryptocurrency known as CASHCAT experienced a rapid decline, with its market capitalization falling from roughly $230 million to about $65‑70 million within three days—a drop of more than 70 %. The token’s price slid about 72 % from its recent high, trading around $0.098 and staying below key exponential moving averages, indicating continued bearish momentum. One trader who shorted the coin earned an unrealized profit of approximately $535,510, while other investors who bought near the peak incurred six‑figure losses, including a loss of about $460,000 on a $750,000 position. Technical analysis shows limited short‑term support near $0.093‑$0.095 and suggests the coin must first recover above $0.105 before a meaningful reversal can be expected. The sharp correction has prompted discussion among crypto influencers about the sustainability of large meme‑coin valuations.