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Memecoins

AI-powered Turbo memecoin sees 40% surge amid growing US trend

TokenTalk Staff

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BONK surpasses Floki inu to become fifth largest memecoin

Turbo (TURBO), an AI-generated engine memecoinjumped 40% in the last 24 hours amid a trend in the United States.

At the time of writing, TURBO was trading at $0.001105, up over 100% over the past week. The token’s market cap surpassed $70 million, up 40%, while its 24-hour trading volume reached $37 million, up 160%.

24 hour TURBO price chart | Source: CoinMarketCap

Turbo Token, the brainchild of digital artist Rhett Mankind, was born as an experiment in cryptocurrency development using artificial intelligence. Humanity used GPT-4 to generate the concept of a memecoin with a budget of just $69. The AI ​​provided the tokenomics, white paper and smart contract code, which were refined with the help of the community.

Mankind then launched the token’s website, created his X account, and deployed the token, establishing a liquidity pool.

However, a robot quickly bought out the pool, which had limited funds due to the small initial budget. This prompted Mankind to consult AI for alternative funding options, and ultimately turn to community crowdfunding.

The new setup saw a total supply of 69 billion tokens, with 9 billion held by Mankind and 50 participants contributing through crowdfunding. The highest individual pledge was between $200 and $300 in Ethereum (ETH), raising a total of $6,669.

Currently, the token is listed on over 30 crypto exchanges, including OKXGate.io, HTX and Bitget.

TURBO’s latest rise coincides with an overall 3.7% increase in the memecoin market over the past 24 hours, while the global crypto market gained 2.3%. Bitcoin also saw a 3% increase during the same period, reaching around $63,300.

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We are the editorial team of TokenTalk, where seriousness meets clarity in cryptocurrency analysis. With a robust team of finance and blockchain technology experts, we are dedicated to meticulously exploring complex crypto markets with detailed assessments and an unbiased approach. Our mission is to democratize access to knowledge of emerging financial technologies, ensuring they are understandable and accessible to all. In every article on TokenTalk, we strive to provide content that not only educates, but also empowers our readers, facilitating their integration into the financial digital age.

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Memecoins

BOME and Meme Coin Offer Reverse Entry with Breakout Chances

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As overall market conditions are more volatile than ever, the bullish trend of meme coins is taking a hit. However, low-cap meme coins like BOME and MEME show a possibility of recovery from crucial support.

With the rally momentum and breakout chances, will these even low-cap meme coins lead to a bull run next week?

BOME reversal to $0.00882

With a morning star pattern at $0.0082, the BOME price trend presents a positive cycle chance in the daily chart. The Book of MEME coin showed a 5.42% price rise last night at the crucial support level.

Trading View

Additionally, the daily BOME price chart shows a downward trend, forming a resistance trendline. This bearish phase forms a descending triangle pattern, keeping the bullish growth in check.

Currently, the meme coin is trading at a price of $0.0087 with an intraday decline of 1.55%, reflecting intraday weakness. However, the daily RSI line shows bullish divergence during the recent declines at $0.0082.

With some optimism, a reversal rally can reach the overhead resistance trendline by surpassing the $0.010 mark. A trendline breakout rally can reach the $0.0188 mark.

MEME Coin Price Breakout Rally Eyes $0.025

With a downtrend in motion, MEME coin price action is showing a falling wedge in the daily chart. The falling wedge trend is observed in several altcoins under current market conditions, suggesting a pullback phase. However, the recent overnight jump hints at a positive cycle within the trend.

Trading View

Currently, MEME price is trading at $0.01943 with an intraday decline of 1.86%, following last night’s 7.58% jump. The overnight jump formed a morning star pattern at the crucial support trendline, revealing strong chances of a reversal.

Considering the reversal momentum, the meme coin price may challenge the overhead trendline near $0.025. Additionally, a bullish rally can cause prices to rise to the psychological mark of $0.050.

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Memecoins

DEGEN ranks #2 in Memecoin metrics despite notable drop in value » The Merkle News

TokenTalk Staff

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DEGEN ranks #2 in Memecoin metrics despite notable drop in value » The Merkle News

DEGEN recently achieved an impressive ranking, securing second place in various on-chain metrics for memecoins.

This includes the number of traders and the number of transactions, placing DEGEN just behind the popular Dogecoin (DOGE). This is particularly notable given that DEGEN’s market capitalization is only 0.79% of that of Dogecoin.

Despite this success, DEGEN experienced a significant drop in value. Over the past 24 hours, its value has fallen by 11%, contributing to a total drop of 27% over the past seven days.

On-chain data reveals that Whale 0x7be offloaded all 40.21 million DEGEN tokens, worth approximately $429,000, in exchange for 122.8 ETH at an average price of $0.01092 per token.

DEGEN Whale posts notable loss after sale

Interestingly, this whale initially acquired the DEGEN tokens with 300 ETH, valued at $891,000, at an average price of $0.0222 each on April 14, 2024.

This recent sale resulted in a substantial loss for the whale. After selling the tokens, the whale recorded a loss of 177.2 ETH, which equates to approximately $639,000, a four-month decline of 59.1%.

Fluctuations in DEGEN’s value highlight the volatility inherent in the memecoin market, even though the token generates significant trading activity and trading volumes.

Disclosure: This is not trading or investment advice. Always do your research before purchasing any cryptocurrency or investing in any service.

Follow us on twitter @themerklehash to stay up to date with the latest news on Crypto, NFT, AI, Cybersecurity and Metaverse!

Image source: jtdee23/123RF // Image effects by Colorcinch



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Memecoins

The end of Memecoin euphoria, room for solid projects

TokenTalk Staff

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The end of Memecoin euphoria, room for solid projects

Tue June 18, 2024 ▪ 3 min reading ▪ by Fenelon L.

The crypto market is experiencing a significant correction, with a particularly pronounced decline for memecoins. As investors look to stronger assets, are we seeing a paradigm shift in the sector?

The Memecoin debacle

THE crypto market recorded a 3% decline over the past 12 hours, with total capitalization hitting its monthly low of $2.48 trillion. However, memecoins suffered the most, with double-digit losses for most of them.

Kyle Chassé, Bitcoin pioneer, Underlines on X the speed at which investors turn away from these speculative assets. He calls this movement a “flight to quality,” where traders now favor crypto assets with a clear function or purpose.

According to CoinGecko, the market capitalization of memecoins fell by 14%, to $48.8 billion. The MAGA TRUMP coin was hit the hardest with a 34% drop, while others like dogwifhat, Brett and Book of Meme also saw losses of over 14%.

Even industry leaders like Dogecoin, Shiba Inu, and Pepe were not spared. Only the Runes-based token DOG-GO-TO-THE-MON has managed to stay in the green over the past seven days.

A widespread correction

While memecoins are the most affected, the decline affects the entire altcoin market. Solana lost 7%, falling to $132, while Cardano fell 7.8% to $0.37.

Other assets like Avalanche (AVAX), Uniswap (UNI), Internet Computer (ICP), and Near Protocol (NEAR) also suffered. Bitcoin, meanwhile, has found support around $65,000 but remains stuck in a sideways channel for three and a half months.

This generalized correction at this stage calls into question the idea of ​​a “flight towards quality”. Nonetheless, the steeper decline in memecoins could be a sign of a change in mindset among investors.

After a period of speculative euphoria, the market seems to be maturing and looking for projects offering real added value. Only time will tell if this trend continues or if the appetite for risk will take over.

The memecoin debacle could mark a turning point for the crypto industry. While investors seem to favor more solid assets, it remains to be seen whether this “flight to quality” will be confirmed over time.

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Fenelon L. avatarFenelon L. avatar

Fenelon L.

Passionate about Bitcoin, I like to explore the intricacies of blockchain and cryptos and I share my discoveries with the community. My dream is to live in a world where privacy and financial freedom are guaranteed for everyone, and I firmly believe that Bitcoin is the tool that can make this possible.

DISCLAIMER

The views, thoughts and opinions expressed in this article belong solely to the author and should not be considered investment advice. Do your own research before making any investment decisions.



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Memecoins

3 Solana Meme Coins to Keep Forever

TokenTalk Staff

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3 Solana Meme Coins to Keep Forever

Contrary to popular belief in the industry, the coin hype has not long since died down. This sector still offers select gems that can change the lives of ordinary investors. For example, Pepe Coin recently reached a new all-time high, proving that coins in this sector still have potential. Above all, Solana Coins like dogwifhat, Bonk and BOOK OF MEME tend to make great strides.

Solana is a layer 1 blockchain ecosystem that has grown to directly compete with platforms like Ethereum. The protocol is revered for its low-cost, lightweight transaction speeds and scalability.

According to CoinMarketCap According to the data, Solana is among the top ten cryptocurrencies worth $61 billion. The token that powers the ecosystem, SOL, attracted $2.5 billion in trading volume while trading at $133.

Investors who are looking for opportunities to grow small crypto portfolios and prefer to look beyond SOL can consider Solana meme coins like WIF, BONK, and BOME. This research also applies to deep-pocketed investors, but further due diligence is needed.

Solana Meme Coins to Buy – Dogwifhat (WIF)

Dogwifhat is the largest meme coin in the Solana ecosystem. It’s a token inspired by a dog like Dogecoin and Shiba Inu, however, relatively younger. Although new compared to DOGE and SHIB, WIF has seen impressive success since late 2023.

It has a vibrant community on various social media channels like X. The project carries the tagline “literally just a dog in a hat”.

Dogwifhat Price Chart

Dogwifhat’s success is reflected in the growth in the value of WIF, the token that powers the project. Trading at $1.97 at the time of writing, WIF is up 2,805% from the all-time low.

However, due to the cryptocurrency price correction, dogwifhat is down almost 60% from its all-time high of $4.85. This means that investors who buy WIF are now getting a massive discount. Due to the following reasons, the meme coin could reach new highs in 2024 and 2025, making it a profitable investment in June.

Bonk (BONK)

Bonk is the second largest coin in the Solana ecosystem. It has a market capitalization of $1.43 billion and trades at $0.000021. The project draws liquidity from its burning mechanism, with a maximum supply of 93 trillion tokens and nearly 68 trillion in circulation.

Bonk Price Chart

The token was introduced via an airdrop to the Solana community in December 2024. It was the first meme coin to launch on the Solana blockchain. Beyond its burn mechanic, Bonk’s value depends heavily on its community.

As a highly speculative crypto, investors should expect volatility. Bonk has lost 55% of its value from the all-time high of $0.000047 reached on March 4, 2024.

MEME BOOK (BOME)

Still on the Solana Blockchain, the MEME BOOK stands out as a leading coin. It was launched in March 2024, attracting the attention of crypto enthusiasts with a focus on memes.

The project bills itself as the ultimate meme library offering long-term storage on the blockchain. It provides users with tools to create memes.

His association with the Solana The ecosystem has given the token a head start. This triggered a massive price increase and some investors reportedly made huge profits.

BOME Price Chart | Commercial view

After exploding to its ATH of $0.028 shortly after launch, BOME lost value before stabilizing around $0.01. However, market headwinds this week pushed the meme coin lower to $0.0089. Although it is trading 940% above its all-time low of $0.000858, BOME is a meme coin with long-term holding potential.

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