Memecoins

Can Base Challenge Solana’s Memecoin Dominance?

Published

7 months ago

27 May, 2024

Can Base Challenge Solana’s Memecoin Dominance?

The return of Solana has been the story of this cycle so far, with the network growing thanks to technological improvements, lucrative airdrops and, most notably, memecoins.

Memecoins have evolved from an unserious, short-lived asset class to a forward-looking alternative to low-float, high-FDV tokens that don’t leave enough upside for retail.

Today, most memecoin activity takes place on Solana, although activity continues to migrate to L2 ETHs like Arbitrum and Base. The base has been particularly busy lately. Although the Coinbase-incubated L2 shows promise of becoming a meme hub, activity on Solana continues to dominate and remain within its ecosystem. Can Base compete with Solana in the memecoin arena?

In this article, we will examine the current status of these platforms, their capital flows, and major projects to assess what makes Solana the memecoin capital and how Base compares to it.

🐕 The Solana Memecoin scene

A key part of Solana becoming the L1 darling of this cycle has been its memecoin activity.

Fueled by an internal capital increase from airdrops like Jito, Jupiter, Kamino, Parcl and Tensor, memecoins plummeted and reached A market capitalization of $1 billion in one weeka spectacular success and an excellent marketing campaign for a channel which is now pushing a TVL above $4.8 billion.

Solana may owe much of its narrative momentum to memecoin fever, evident in the activity on Pump.fun, a popular memecoin launcher, which represented some days 83% of all tokens launched and even toppled Solana in 24 hour revenue. This success, however, would not have been possible if the network did not already have such a powerful memecoin arena with main character tokens such as WIF, BONK, and BODEN, to name a few.

dog hat (Teleprinter: Wireless; Market cap: $3.3 billion) is a cute Shiba Inu with a knitted hat who became Solana’s mascot thanks to his memeability, extensive promotion by Crypto Twitter personalities, and the allegiance generated by the rise of your token with a market capitalization of $10,000 to several billion dollars. Status.
Jeo Boden (Teleprinter: BODEN; Market capitalization: $194 million), a derisory vision of American President Joe Biden which triggered the PolitiFi meta, also lives in Solana. In its first week, it generated numerous 1000x returns, a performance that permanently married some to the SOL memecoin scene.
Bonk (Teleprinter: BONK; Market cap: $2.65 billion) is Solana’s OG memecoin. This is a December 2022 Shiba Inu that saw incredible price action last fall and launched memecoins for the chain.

Generally speaking, Solana not only has the most important memecoins in the cycle, but also a thematic range of tokens, from dogs and cats to politicians.

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🧑🏻‍🦲 The basic Memecoin scene

Base has quickly risen to establish itself as one of Ethereum’s top L2s, thanks to its memecoin ecosystem helping it build a consumer-friendly reputation.

Projects like DEGEN and ami.tech have brought consistent activity to the network and established a culture for Base as a social hub. That said, while March saw an epic rally in the network’s TVL, it appears to have stabilized in recent weeks. If the Base TVL is still far from that of Solana, its daily volumes are impressive. Last week, the network reached a record $854 million in daily volumes.

TVL in blue. Volumes in green.

Although the BALD mat of 2023 may have left an initial bitter taste in the mouths of memecoin players, the ecosystem has developed more momentum during more recent memecoin cycles, although it’s still the Wild West.

Brett (Teleprinter: BRETT; Market capitalization: $440 million) is a token inspired by a character from the comic strip “Boy’s Club” by Pepe creator Matt Furie. While niche can be good, it can also reduce the audience and, therefore, the demand for a token.
Toshi the cat (Teleprinter: TOSHI; Market cap: $146 million), named after Brian Armstrong’s cat and Bitcoin founder Satoshi Nakamoto, is Base’s leading pet-inspired memecoin.

BRETT is live in Las Vegas 😎🚀 pic.twitter.com/HdAbkUWs84

– Brett (@BasedBrett) April 30, 2024

Traders show their allegiance to the channels that helped them get rich. While SOL traders were able to purchase the token for a tiny fraction of its current market cap, Base still does not have a native token due to regulatory review, and if/when it does, it can be assumed that there will be relatively milder upside potential for retail traders. During this time, there have been few impactful ecosystem drops on base, unlike the Solana community.

Although Base has unique memecoin communities, they lack the broader appeal of tokens in other ecosystems like Solana; rather, they are aimed at a more crypto-native audience. This uniqueness sets the channel apart, but the narrow thematic scope could limit the channel’s success as a major meme hub.

Although Base was able to leverage its cheaper and faster transactions to create an early class of memes, the strongest memecoin communities on Ethereum still exist primarily on the mainnet. Solana has momentum and a more palpable narrative in this cycle, and while Base continues to be one of the busiest L2 ecosystems, Base still has a lot of catching up to do in the memecoin arena.

Final Thoughts

Solana and Base exist on different levels when it comes to memecoins.

Solana has solidified its position through a diverse and thriving memecoin ecosystem supported by large airdrops and a robust community. In contrast, despite its impressive growth and support from Coinbase, Base has yet to achieve the same level of mainstream appeal and capital creation that lends itself to the degenerate environment necessary for memecoins.

Solana’s continued growth, evident in its increasing TVL and daily volumes, highlights its place in the spotlight this cycle. As the memecoin landscape evolves, it will be interesting to see if Base can foster a standout memecoin that can differentiate Base within and outside of the Ethereum ecosystem.

Fuente

Memecoins

Memecoins dominate major derivatives in terms of open interest | Flash News Detail

Published

5 months ago

1 August, 2024

TokenTalk Staff

Bitcoin Dominance May Have Peaked, Ethereum ETF Could Trigger Altcoin Momentum

Disclaimer

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Fuente

Memecoins

Have a profitable August with Shiba Inu and Mpeppe (MPEPE) Don’t miss the winnings

Published

5 months ago

1 August, 2024

TokenTalk Staff

Have a profitable August with Shiba Inu and Mpeppe (MPEPE) Don't miss the winnings

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.

For more information on the Mpeppe presale (MPEPE):

Visit Mpeppe (MPEPE)

Join us and become a member of the community:

https://t.me/mpeppecoin

https://x.com/mpeppecommunity?s=11&t=hQv3guBuxfglZI-0YOTGuQ

Fuente

Memecoins

Solana down 8% as its coins Dogwifhat, Billy and Neiro fall further

Published

5 months ago

1 August, 2024

TokenTalk Staff

Solana climbs 4% on the back of rising Meme Coins and Alts

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.

Fuente

Memecoins

Trader Says Bitcoin’s Path to $100,000 Is ‘Currently Programmed’, Updates Outlook on Memecoin That’s Up Over 18,000% YTD

Published

5 months ago

1 August, 2024

TokenTalk Staff

Trader Says Bitcoin's Path to $100,000 Is 'Currently Programmed', Updates Outlook on Memecoin That's Up Over 18,000% YTD

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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