Solana-based meme token ZCAT, also known as Anonymous Cat, briefly exceeded a reported $170 million market capitalization before trading near $141 million, according to GMGN data. The token gained more than 220% over 24 hours, setting a new reported high after earlier market-cap readings that ranged from about $50 million to $140 million. ZCAT is built around a Zcash privacy narrative and features an anonymous cat wearing a paper bag. Its stated model uses transaction-generated proceeds to distribute ZEC to token holders, creating a structure in which holders receive the privacy-focused cryptocurrency from activity involving the meme token. Crypto KOL Ansem has repeatedly posted ZCAT-related content on X. Earlier coverage reported a 500% 24-hour increase when ZCAT reached a $140 million market capitalization. Its sharp gains, fluctuating valuation and meme-token structure have prompted repeated cautions to investors over heightened price volatility.