Memecoins
Are Memecoins good for the crypto industry?
![Are Memecoins good for the crypto industry?](https://tokentalk.top/wp-content/uploads/2024/05/Are-Memecoins-good-for-the-crypto-industry-scaled.jpg)
The crypto market has headed into bullish territory again this spring, which means everyone is looking for investments in decentralized tokens. Bitcoin’s April halving event is poised to propel the OG cryptocurrency’s value into the stratosphere, according to some estimates reaching up to $400,000but on the other end of the spectrum, a series of memecoins are making cryptocurrency purchases more accessible.
In recent years, the adoption of cryptocurrencies has increased significantly, despite the devastating crypto winter of 2022. While the focus has traditionally been on major tokens, consumers play both. Online Bitcoin Games With industries integrating smart contracts based on Ethereum, all eyes are now on the resurgence of memecoins. Thanks to continued developments in the Solana blockchain and the emergence of memecoin generators like Pump.com, these novelty tokens are back with a vengeance.
Memecoins explained
Memecoins indeed constitute a unique segment within the broader cryptocurrency ecosystem. They may be recognized as digital assets, but their value derives more from the cultural phenomenon of Internet memes than from any technological utility or innovation. As their name suggests, this group of crypto tokens originated in the landscape of social media, online forums, and Discord servers and perfectly encapsulates the irreverence of these online communities.
The first coin to start the trend was the infamous Dogecoin (DOGE), launched in December 2013. What started as a joke – the token was based on the online Shiba Inu meme “Doge” – quickly became a project with strong traction and Soon, Dogecoin reached a significant market capitalization. Like all pioneers of the trend, it has also attracted several imitators, such as 2021’s Shiba Inu (SHIB), as well as spin-offs like Dogelon Mars (ELON) and Dogecoin Cash (DOGC).
While other crypto tokens have underlying utility or actively contribute to the continued development of decentralized technologies, memecoins have been widely used as speculative trading coins. Highly volatile, with prices determined more by online buzz than their intrinsic value, nevertheless, both seasoned traders and complete novices contributed to their substantial trading volumes.
Good for cryptography..
Opinions on the validity of memecoins are divided within crypto markets, with some experts firmly in the “for” camp, while others view them as worthless speculative tokens. MEX co-founder Arthur Hayes, for example, believes that these novelty coins actually contribute to the overall ecosystem in positive and substantial ways, especially in relation to the blockchain networks they are launched on.
In an interview with Real Vision, Hayes argued for the role memecoins play in increasing the value of chains that support this seemingly frivolous culture. Just look at the adoption of the Solana network and the growing value of its native token SOL to see the very real impact of November 2023. “memecoin frenzy”. Even Bitcoin saw an increase in network and development activity after the launch of novelty tokens BRC-20 and Ordinals.
It’s a sentiment shared by Andreas Brekken, founder of direct-to-wallet trading platform SideShift. He believes that meme-based cryptos actively help a broader demographic of consumers engage with blockchain technology and can even serve as a “real-world testing ground” for the technology.
…Bad for investors?
However, it’s not all positive adoration from the industry. Ethereum co-founder Vitalik Buterin has signaled his disinterest in memecoins. In a March 24 blog post, he said that while he values ”people’s desire to have fun,” he wants developers and investors to increase the utility of meme tokens, or even use them for charitable purposes.
Additionally, major investment firm Franklin Templeton warned of the frivolous nature of the meme coin. The segment is becoming increasingly attractive to Gen Z users, particularly due to its gamified nature, but critics compare memecoin investing to someone “setting their scarce cash on fire.”
This also implies that a flood of low or even worthless tokens arriving on the market could have a negative impact on the regulation of cryptocurrencies.
Memecoins to watch in 2024
Despite the mixed reception given to memecoins by the crypto industry, they are nonetheless one of the best performing asset classes in 2024 so far. If you are firmly on the side of memecoins and have a solid understanding of their inherent risk, the following are the ones to watch out for:
- Dogeverse – a relatively new multi-chain token that raised over $250,000 in minutes.
- Slothana – this play based on Solana 2024 has raised over $10 million so far.
- Dogecoin20 – with a staking APY of over 50%, is shaping up to be the next big memecoin.
- Sponge V2 – a renewed classic with stake APYs of over 160%.
- Smog – another new entrant making waves with its $160 million market cap
- Poodl Inu – this dog-themed token features a staking APY of over 90%
- Mollars – a gaming-focused ERC-20 coin
- Lucky Boo – has an airdrop capacity of 3.24 billion tokens
- Dogecoin – the OG meme coin is still a favorite among influential tech and crypto heads.
Memecoins
Memecoins dominate major derivatives in terms of open interest | Flash News Detail
![Bitcoin Dominance May Have Peaked, Ethereum ETF Could Trigger Altcoin Momentum](https://tokentalk.top/wp-content/uploads/2024/06/Bitcoin-Dominance-May-Have-Peaked-Ethereum-ETF-Could-Spark-Altcoin.jpg)
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Memecoins
Have a profitable August with Shiba Inu and Mpeppe (MPEPE) Don’t miss the winnings
![Have a profitable August with Shiba Inu and Mpeppe (MPEPE) Don't miss the winnings](https://tokentalk.top/wp-content/uploads/2024/08/1722527106_Have-a-profitable-August-with-Shiba-Inu-and-Mpeppe-MPEPE.jpg)
August offers investors a unique opportunity to capitalize on the potential gains offered by Shiba Inu (SHIB) and Mpeppe (MPEPE)These two memecoins take advantage of the viral nature of internet memes and popular culture, attracting a diverse and enthusiastic audience. In this article, we’ll look at why Shiba Inu (SHIB) and Mpeppe (MPEPE) are poised for gains this month and why you shouldn’t miss out on the potential profits.
The viral power of memecoins
Memecoins have the inherent ability to leverage the viral nature of internet memes and popular culture references. This can lead to rapid spread of the cryptocurrency’s brand and message across various online platforms, potentially appealing to a broader and more diverse audience. Shiba Inu (SHIB) and Mpeppe (MPEPE) are great examples of how this viral potential can translate into substantial community growth and market presence.
Shiba Inu: riding the wave of popularity
Shiba Inu (SHIB) has established itself as a major player in the memecoin space. With its cute canine mascot and strong community support, Shiba Inu (SHIB) has gained a significant following. The coin’s ecosystem continues to grow, with projects like ShibaSwap adding to its utility and appeal. Investors are optimistic about Shiba Inu’s future, expecting it to ride the wave of popularity that has kept it in the spotlight.
Ecosystem expansion
THE Shiba Inu (SHIB) The Shiba Inu (SHIB) ecosystem is constantly expanding, offering new features and utilities that enhance its value proposition. Projects like ShibaSwap provide users with opportunities to stake and earn rewards, making Shiba Inu (SHIB) more than just a meme currency. This expansion helps solidify its market position and attract a wider audience.
Balancing humor and professionalism
Mpeppe (MPEPE) offers a unique and light-hearted approach to the serious world of digital assets, balancing humor and professionalism. Inspired by internet memes and the dynamic energy of football fans, Mpeppe (MPEPE) is quickly gaining traction in the crypto community.
Mpeppe (MPEPE) offers an opportunity to reach a younger demographic and tap into the viral nature of internet culture. By balancing humor and professionalism, Mpeppe (MPEPE) appeals to a wide audience, from casual meme enthusiasts to serious investors. This strategy is similar to the one that made Shiba Inu (SHIB) so successful, but with a modern twist.
Expanding Reach and Adoption
Mpeppe’s (MPEPE) ability to leverage internet culture means it has the potential to rapidly expand its reach and adoption. The memecoin’s branding and community-driven approach make it accessible and appealing, much like Shiba Inu (SHIB) in its early days.
Why August is the month to invest
As the cryptocurrency market experiences a surge in interest, August presents a great opportunity to invest in promising assets like Shiba Inu (SHIB) and Mpeppe (MPEPE) Both coins are well positioned to capitalize on the growing interest in memecoins, driven by their unique appeal and active communities.
Conclusion: Don’t miss the benefits
Shiba Inu (SHIB) and Mpeppe (MPEPE) are poised for a profitable August, leveraging their viral potential and strong community support to attract a diverse audience. With the cryptocurrency market in full swing, now is the perfect time to consider investing in these promising memecoins. Just as Shiba Inu (SHIB) captivated the crypto world with its unique appeal, Mpeppe (MPEPE) is poised to make its mark. Don’t miss out on the potential gains these innovative digital assets have to offer.
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Memecoins
Solana down 8% as its coins Dogwifhat, Billy and Neiro fall further
![Solana climbs 4% on the back of rising Meme Coins and Alts](https://tokentalk.top/wp-content/uploads/2024/07/Solana-climbs-4-on-the-back-of-rising-Meme-Coins.jpg)
Solana, the fifth-largest crypto asset by market cap, has fallen 8% in the past 24 hours, according to CoinGeckolike his Meme Coin Market Prices of some coins, which can be notoriously volatile, have fallen by as much as 43% in the past day.
As the cryptocurrency market bleeds with Bitcoin (Bitcoin) down 2.7% and Ethereum (ETH) 4.2%, Solana (GROUND) was the hardest hit among the top 10 cryptocurrencies, falling 8.2% to $168 on the day, according to data from CoinGecko. Along with this, meme coin Solana suffered huge losses.
The biggest loser in the last 24 hours is the bigger of the two Black (NEIRO) on Solana which fell nearly 44% to $0.01821. These tokens were launched after the owner of Kabosuthe Shiba Inu that inspired the Doge meme, announced that she had adopted a new dog named Neiro. Interestingly, her rival on the network launched an hour beforealso called Black (NEIRO), is up 75.2%. It appears that the Solana Neiro Civil War is far from being decided.
Other big losers include: Pump.fun’s Favorites Billy (BOWL), down 26.4%, and Michi (MICHI), which fell 24.5%. Over the past 24 hours, both tokens have flipped their market caps multiple times, but dog token Billy is currently in the lead with $94 million, about $3 million ahead of Michi.
Dog with hat (Wireless), the largest meme coin on Solana, was also hit, dropping 12.4%. Bonk (BONK), the second-largest Solana meme coin, fell 9.1%. In fact, among the top 50 Solana meme coins by market cap, only four tokens are in the green, with Zoomer (ZOOM IN) leading the pack with 41.1%.
Meme coins are notoriously high-risk assets and tend to post disproportionate losses when the broader market experiences a downturn.
Brain (BRAIN), Michi (MICHI), Mini (MINI), Shark cat (SC), and many others, for example, have suffered greater losses in the last 24 hours than any of the top 100 cryptocurrencies by market capitalization.
In the world of meme coins, when it rains, it rains.
Edited by Stacy Elliott.
Memecoins
Trader Says Bitcoin’s Path to $100,000 Is ‘Currently Programmed’, Updates Outlook on Memecoin That’s Up Over 18,000% YTD
![Trader Says Bitcoin's Path to $100,000 Is 'Currently Programmed', Updates Outlook on Memecoin That's Up Over 18,000% YTD](https://tokentalk.top/wp-content/uploads/2024/08/Trader-Says-Bitcoins-Path-to-100000-Is-Currently-Programmed-Updates.jpg)
A widely followed analyst and trader expresses bullish sentiment on Bitcoin (Bitcoin) while offering his take on the memecoin built on Solana (GROUND) blockchain ecosystem.
Starting with Bitcoin, the analyst known by the pseudonym Altcoin Sherpa tell His 219,000 followers on social media platform X say Bitcoin is on the verge of hitting a six-figure price.
“There will be bumps along the way, but Bitcoin’s path to $100,000 is on schedule. Don’t get rattled or lost along the way.”
Source: Altcoin Sherpa/X
At the time of writing, Bitcoin is trading at $66,236.
According to For the widely followed trader, Bitcoin enjoys strong support between $63,800 and $65,000, where the 25, 55, 89 and 200 exponential moving averages (EMAs) on the daily chart have clustered.
Source: Altcoin Sherpa/X
Next up is the Solana-based memecoin Popcat (POPCAT). The pseudonymous trader and analyst said that among the cat memecoin family, POPCAT is one of the “best” in the long run.
Altcoin Sherpa, however, says POPCAT looks bearish on the short-term four-hour time frame and needs to climb above a range low between $0.694 and $0.724 to avoid falling further.
Source: Altcoin Sherpa/X
POPCAT was trading at $0.00379 on January 5th and is now at $0.704, a gain of approximately 18,475%.
Altcoin Sherpa also offers his take on dogwifhat (Wireless), Solana-based Memecoin. According to For the pseudonymous analyst, WIF “still looks pretty good for now” on the four-hour chart with the “best” support area sitting around $2.10.
“The average would probably be $2.30 to $2.10 if I were you and I was swing trading this one.”
Source: Altcoin Sherpa/X
WIF is trading at $2.27 at the time of writing.
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Disclaimer: Opinions expressed on The Daily Hodl are not investment advice. Investors should do their own due diligence before making any high-risk investments in Bitcoin, cryptocurrencies or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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