CoinGecko Omnicat experiences significant 49 increase in price

According to data from CoinGecko on January 8th, Omnicat, a popular meme coin that operates across multiple blockchains, has seen a significant price increase of 49.3% in the last 24 hours, making it the top trending coin.
Omnicat is currently available on various chains including Ethereum, Arbitrum, Solana, Polygon, Canto, BSC, and Base. The coin utilizes the OFT standard developed by LayerZero, allowing users to bridge and arbitrage across all seven pools on each ecosystem.
As of now, the live price of Omnicat (OMNI) is $0.0006543 with a trading volume of $6 million in the last 24 hours, reflecting the impressive 49.3% gain. Over the past week, the coin has surged by 51%, outperforming the overall cryptocurrency market which has seen a 1.6% decrease. Omnicat is also surpassing other cryptocurrencies within the Polygon ecosystem, which have shown no change in value.
Despite no official announcements on the project’s X account, it is important to note that the recent price surge follows a rug pull incident on the BSC network on December 25th. A rug pull is a fraudulent scheme where project creators abandon the project after collecting funds from investors. In this case, Omnicat was a victim of the scheme, resulting in the unauthorized acquisition of approximately 306,200 BUSD.
For more updates on cryptocurrency news, follow us on Google News.