The crypto market rally is spreading to small- and mid-cap meme coins. Several dog- and cat-themed meme coins have more than doubled over the past week, signaling that investor risk appetite is rapidly strengthening.

According to crypto media outlet CoinDesk, Robinhood-chain-based meme coin Cash Cat surged roughly 51% in the past 24 hours to $0.218 (approximately 300 won) as of the 25th. Its weekly gain reached 113%, while the monthly gain stood at roughly 345%. Market capitalization is around $215 million (approximately 300 billion won).

Cash Cat’s trading volume was unusually high relative to its market cap. Roughly $80 million (approximately 110 billion won) changed hands over the past 24 hours, equivalent to 37% of its roughly $215…