Thinking Cat (HMM) Surges 2,500%: Is It the Next CASHCAT?

Thinking Cat (HMM) has become the latest meme coin to capture attention on Robinhood Chain. 

The token surged over 2500% from launch to a peak market cap of $27 million before pulling back to $19.82 million, a trajectory that immediately draws comparisons to CASHCAT, the chain's first breakout meme coin that peaked near $400 million. 

The chart data and CASHCAT's own history offer clues in both directions.

Key Takeaways

• HMM launched on Robinhood Chain with a cat mascot theme, surging to $27 million before retracing to $19.82 million.
• CASHCAT's pattern shows a similar early spike followed by a 75% correction, suggesting HMM may face downside pressure before any second leg.
• HMM has recorded 10,041 transactions with $3.5 million in 24 hour volume across 1,558 active traders.

What Is Thinking Cat (HMM)?

Thinking Cat trades as HMM on Uniswap V3 on Robinhood Chain at contract address 0x7fe995a80075df3dc8ae11a9b82c7fe4202cd87f. 

The project brands itself as "a meme coin for overthinkers," built around a cat mascot with a deliberately indecisive personality. The tagline: "the sound your brain makes right before you do something dumb."

The website features a "meme depot" with 118 certified meme templates for community distribution, an interactive "ask the cat" button with randomised responses, and integration with Wirebot, a tool allowing users to buy HMM directly from a tweet on X without needing a wallet or seed phrase. The cat mascot positioning is deliberate. 

CASHCAT established the cat meme meta on Robinhood Chain. HMM is the second major cat themed token, but where CASHCAT leans into confident, money oriented branding, HMM takes the opposite approach: hesitation, overthinking, and comedic indecision.

The token has no utility promises. The website explicitly states: "$HMM is a meme. it thinks, it does not promise."

Read also: How $CASHCAT Are Shaping Robinhood Chain

Will HMM Follow CASHCAT's Price Pattern?

The side by side DexScreener charts reveal a striking similarity in early price action. Both tokens launched with near zero market caps, experienced parabolic surges, and then faced sharp pullbacks from initial peaks.

Image Source: TradingView

CASHCAT surged to a peak near $400 million within approximately two weeks of launch, then experienced a severe correction dropping below $100 million before recovering to its current $163.88 million. 

HMM's chart shows the early stages of a similar arc: a surge from near zero to $27 million, then a pullback to $19.82 million with a 20.60% decline over six hours.

Bitrue Research Institute identifies two scenarios from CASHCAT's roadmap. The bearish case: after its parabolic move, CASHCAT dropped approximately 75% from its all time high before finding a floor. 

If HMM follows the same pattern, a correction from $27 million could bring the market cap to the $6 million to $8 million range. The accelerating short term declines may be the early stage of this phase.

The bullish case also draws from CASHCAT. After bottoming, CASHCAT experienced a second leg that brought the market cap to $163.88 million, approximately 41% of its peak. 

If the cat theme continues to resonate on Robinhood Chain, HMM could follow a similar recovery arc after correcting. The critical variable is whether HMM builds an independent community or remains a derivative trade on the CASHCAT narrative. 

The 118 meme templates and Wirebot integration suggest investment in distribution, but sustained engagement beyond launch hype remains unproven.

Read also: Is Robinhood Chain Still Leading the Meme Coin Market?

What Does the Current Trading Data Show?

The DexScreener data provides a granular view of HMM's market structure.

Here is the snapshot:

• Price: $0.01972.
• Market cap: $19.4 million.
• FDV: $19.4 million, indicating no locked supply creating future sell pressure.
• Liquidity: $552,000.
• 24 hour volume: $3.5 million.
• 24 hour transactions: 10,041.
• Buyers: 978 versus sellers: 1,041.
• Buy volume: $1.8 million versus sell volume: $1.7 million.

The volume to market cap ratio is 18%, meaning roughly one fifth of the entire market cap turns over daily. 

This is typical for meme coins in their first week. CASHCAT's current daily volume of $223,715 against $163.88 million represents just 0.14%, showing how trading activity matures over time.

Buy to sell volume is 51.4% versus 48.6%, essentially balanced with a slight lean toward accumulation. 

By trader count, sellers outnumber buyers 1,041 to 978. This divergence suggests that while more individual traders are taking profits, remaining buyers are placing larger orders, consistent with whale accumulation during a pullback.

The liquidity figure is the key risk metric. At $552,000 against a $19.4 million market cap, the ratio sits at approximately 35:1. A relatively small sell order can move the price significantly. 

The short term performance breakdown reinforces the pullback thesis: the 5 minute, 1 hour, and 6 hour returns are all negative at 0.53%, 1.10%, and 20.60% respectively, while only the 24 hour return remains positive at 9.98%. 

If the 24 hour return flips negative, the correction could accelerate as momentum traders exit.

Follow emerging meme coin trends and explore available trading opportunities on Bitrue.

Conclusion

Thinking Cat (HMM) has captured the second wave of Robinhood Chain meme coin enthusiasm with a 2500% launch surge and a community infrastructure built around meme distribution and frictionless buying. 

The CASHCAT comparison cuts both ways: the early pattern mirrors CASHCAT's trajectory, which included a 75% correction before a partial recovery. 

Low liquidity of $552,000 against a $19.4 million market cap creates a high risk setup. Traders should watch whether HMM holds above $19 million or breaks lower before committing directionally.

FAQ

What Is Thinking Cat (HMM)?

HMM is a cat themed meme coin on Robinhood Chain trading on Uniswap V3 with a current market cap of $19.4 million and no utility promises.

How Does HMM Compare to CASHCAT?

CASHCAT peaked near $400 million and currently sits at $163.88 million after a 75% correction, while HMM peaked at $27 million and is showing early signs of a similar pullback pattern.

What Is HMM's Liquidity Risk?

HMM has $552,000 in liquidity against a $19.4 million market cap, a 35:1 ratio that amplifies price volatility on both buy and sell pressure.

Is HMM Likely to Correct Further?

Short term data shows 5 minute, 1 hour, and 6 hour returns all negative while only the 24 hour return remains positive, a pattern consistent with fading momentum ahead of a deeper correction.

How Many Traders Are Active on HMM?

DexScreener shows 1,558 active traders with 10,041 transactions, split between 978 buyers and 1,041 sellers, with buy volume of $1.8 million slightly exceeding sell volume of $1.7 million.

Disclaimer: 

This article is for informational purposes only and does not constitute financial advice. Cryptocurrency markets are highly volatile and carry significant risk, including the potential loss of principal. Always conduct your own research before making investment decisions. Certain products and services referenced may not be available to residents of restricted jurisdictions, including but not limited to the United States, Canada, the United Kingdom, the European Economic Area, and China.