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Memecoins

Dogecoin, Shiba Inu and PEPE face a brutal correction

TokenTalk Staff

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Dogecoin, Shiba Inu and PEPE face a brutal correction

10:15 a.m. ▪ 3 min reading ▪ by Fénelon L.

Meme-inspired cryptocurrencies, once booming, are currently going through a rough patch. Dogecoin, Shiba Inu and PEPE, key players in this segment, have seen their market value drop significantly in recent weeks.

DOGE falling despite increasing trading volume

About two weeks after the Halving, the cryptocurrency market is struggling to rebound. Bitcoin is undergoing a correction that is impacting the entire market, including memecoins which until now were experiencing a prosperous period, similar to a bull run.

Dogecoin (DOGE), one of the leading meme-inspired cryptocurrencies, has lost more than 12% of its value in the past 24 hours. This decline is part of a broader downward trendwith a drop of 23% over the week and 40% over the month.

Currently, DOGE is trading around $0.1245, far from its all-time high of $0.737 reached in May 2021. Despite these disappointing numbers, Dogecoin trading volume surged 75% in one day, reaching 1 .7 billion dollars, with a market capitalization of $18 billion.

Shiba Inu and PEPE follow the downward trend

Shiba Inu (SHIB), another popular memecoin, also lost 12% in 24 hours and 22% over the week. Its current price of $0.000021 is still up 134% over 90 days, indicating continued investor interest. SHIB’s trading volume increased 50% to $833 million, with a market cap of $12.3 billion.

PEPE, a newer memecoin, is not immune to the crisis despite a 560% increase over 90 days. Its price fell 22% over a week and another 16% in 24 hours, reaching $0.000006. Its trading volume, however, increased by 28% to $980 million.

Although Dogecoin, Shiba Inu and PEPE suffered significant losses, investor interest, reflected by increased trading volumes, remains present. Investors should remain vigilant of the volatility and risks inherent in these assets, while closely monitoring market sentiment and broader market trends. crypto industry.

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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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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

GameStop extends losses to 60%, Solana Meme GME plunges 25% as Meme Token rally fades

TokenTalk Staff

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GameStop extends losses to 60%, Solana Meme GME plunges 25% as Meme Token rally fades

The controversial rebound in GameStop (GME) shares had its second day of reversal on Monday, ending the U.S. trading session down 12% after a drop of 40% on Friday This has weighed down some meme tokens that tend to mirror the stock’s movements.

GME ended Monday at $24.89, down 62% from last Thursday’s two-year high of $61. Elsewhere, Solana-based meme token GME, which parodies the company, slipped 25%, reversing a rally of more than 200% over the past seven days.

Related tokens like Roaring Kitty (KITTY) and some cat-themed tokens, which previously traded alongside GME stock, lost on average at least 10%, according to data tracked by CoinGecko.

Dog-themed tokens doge (DOGE), shiba inu (SHIB), and floki (FLOKI) pared last week’s gains, from 4% to 10%.

The stock has moved wildly since late May due to the apparent return of retail trader and GME bull Keith Gill for the first time since 2021. Gill, known by his aliases @TheRoaring Kitty and “DeepF*uckingValue,” was a key figure in the evolution of the title. short-term rally in 2021.

Gill introduced a $580 million position in GME shares and options last week, which sent the stock price soaring and put him on track to reach a potential exposure position of a billion dollars.

However, the gains were erased after the company announced it would sell up to 75 million shares, days after making $933 million by selling 45 million shares. It also reported a drop in quarterly sales, dampening investor confidence.

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Memecoins

12-Month Crypto Gains: Meme Coins Take 7 of Top 10 Spots – Bitcoin News Market Updates

TokenTalk Staff

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12-Month Crypto Gains: Meme Coins Take 7 of Top 10 Spots – Bitcoin News Market Updates

https://news.google.com/./articles/CBMiU2h0dHBzOi8vbmV3cy5iaXRjb2luLmNvbS8xMi1tb250aC1jcnlwdG8tZ2FpbmVycy1tZW1lLWNvaW5zLXRha2UtNy1vZi10b3AtMTAtc3BvdHMv0gEA?hl=en- US&gl=US&ceid=US%3Aen

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Memecoins

Bubblemaps alleges insider trading on memecoins promoted by Andrew Tate and Iggy Azalea

TokenTalk Staff

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Bubblemaps alleges insider trading in memecoins promoted by Andrew Tate, Iggy Azalea

The Bubblemaps blockchain analysis platform has allegations made significant insider trading activity in memecoin projects recently promoted by Andrew Tate and Iggy Azalea.

Despite evidence of wallets purchasing significant amounts of tokens during and ahead of their respective launches, there is no evidence linking them to Tate or Azalea.

The allegations, shared via tweet threads, attracted considerable attention within the crypto community. Some called out alleged insider trading, while others said there was no such thing as a fair memecoin launch and that such events were commonplace.

Andrew Tate and the $DADDY piece

However, Bubblemaps claimed in a June 12 thread that insiders purchased 30% of the $DADDY coin supply at launch, accumulating more than $45 million across 21 wallets.

On June 9, a transaction moved 40% of $DADDY’s supply to Tate’s wallet before he began promoting the coin on social media. Tate has publicly stated that he will not sell any tokens and continues to hold them.

However, on-chain data shows that several wallets purchased around 20% of the supply before the project was announced. According to Bubblemaps:

Bubblemaps wrote:

“11 wallets, funded via Binance with almost identical amounts at the same time, purchased 20% of $DADDY on June 9, before @DaddyTateCTO’s first tweet.”

These wallets now hold approximately 19% of the total supply, valued at $30 million. The company added that any significant sales of these wallets could impact the liquidity of the coin.

The company also alleged that the wallets were related and potentially belonged to the “same group.” Bubblemaps wrote:

“Since they [the wallets] are funded through Binance, we cannot 100% confirm that they belong to the same group. However, the timing and amounts strongly suggest that this is the case.

Additionally, two other clusters, linked via a specific wallet, purchased 10% of the supply ahead of Tate’s promotional activities. These clusters currently hold tokens worth $16 million.

Bubblemaps said Tate has not sold his tokens, but the 40% of the total supply he holds – valued at $64 million – remains intact and could affect the market if sold.

It is important to note that while these wallets show suspicious activity, there is no concrete evidence directly linking the addresses to Tate or his associates. These conclusions remain claims based on transactional models.

Tate responded to the allegations on social media and reiterated that he had no plans to sell the tokens sent to him. He further stated that he would only burn the tokens, in writing:

“I will never sell what was sent in my wallet, I will only burn it and buy it. Forever. Diamond hands.

Iggy Azalea and the $MOTHER piece

Bubblemaps tooallegations avoided of insider trading on the $MOTHER piece at the end of May, promoted by rapper and model Iggy Azalea.

According to the company, insiders purchased 20% of the $MOTHER supply at launch and have since sold $2 million worth of tokens.

The investigation identified a key wallet, which purchased 109 trillion MOTHER tokens before distributing them across seven wallets. Most of these tokens were sold, making a profit of $1.4 million. The remaining tokens are valued at around $400,000 at the time of publication.

Additionally, the wallet transferred funds to other profitable wallets, which collectively earned around $800,000 by selling around 8% of the token supply.

Similar to the $DADDY coin case, there is no concrete evidence linking these addresses directly to Azalea or her associates. These findings are allegations against wallets belonging to unknown entities based on observed transaction patterns.

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Memecoins

Meme season is back! 3 Cryptos to Buy for 100X Gains Before They Go Viral

TokenTalk Staff

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meme cryptos - Meme Season Is Back! 3 Cryptos to Buy for 100X Gains Before They Go Viral

Source: Wit Olszewski / Shutterstock.com

Meme cryptos have been doing very well in recent months. Micro-cap meme tokens on many chains took off one after another. This time, however, we see that memecoins on many alt chains are performing well, and they have been driving most of the excitement in the crypto space as of late.

I think the meme rally can continue as long as large-cap cryptocurrencies stay quiet and utility projects continue to decline. Crypto traders will go where the money is, and memecoins offer both money and thrills.

That said, you need to be very careful with these cryptos. You will likely lose money and should treat memecoins as nothing more than lottery tickets. Do your own research and only invest “fun money” in these cryptos once you have the risks in mind. We’ll take a look!

Banana (BAN-USD)

Blue purple vector background.  Bitcoin and blockchain.  Electronic cryptocurrency and modern technology.  Online banking and financial communication.  World Wide Web.  Hot Cryptos to Buy

Source: Vit-Mar / Shutterstock.com

Banana (BAN-USD) is the most “utilitarian” memecoin I have encountered. This cryptography project is a fork of Nano (XNO-USD). Just like Nano, Banano has a peer-to-peer blockchain model that allows completely free transactions. These transactions are very fast and, in theory, infinitely scalable with very little power consumption.

That said, the downside is that you don’t have smart contracts or anything flashy except transactions. Banano is also not listed on many major exchanges, although there is an active Reddit community that regularly pushes for listings. People can get more bananas by “bending”. Basically, you can lend your computing power to the healthcare industry for more Banano, which in my opinion makes it very useful compared to most meme cryptos.

This is a memecoin, after all, so I won’t dwell too much on the usefulness. The price is currently at an all-time low with market capitalization of only $8 millionso I think there’s some really good upside potential here.

Trump Mania (TMANIA-USD)

Trump campaign merchandise available for sale in front of the Maricopa County Recorder includes t-shirts, hats, socks, toys and accessories.  Crypto Super Trump, STRUMP

Source: Rebekah Zemansky / Shutterstock.com

Trump mania (TMANIA-USD) is much riskier than Banano. This is a new project that has seen explosive growth recently, but has cooled off. However, I believe there are catalysts ahead that could add more fuel to the fire in the future.

I’ll try not to get political, but Trump will be convicted in July. This could significantly boost this cryptography, as any harsh sentence would exceed the publicity Trump received during his conviction.

Additionally, polls currently show Trump in the lead right now and if we see a shift like we saw last time in many key battleground states, there’s a good chance that he wins. This crypto could profit if it doesn’t die by then, of course.

Hedgehog in the Fog (HIF-USD)

Macro view of miner working for bitcoin mining pool.  Devices and technologies for cryptocurrency mining.  Mining cryptocurrency concept.  MARA action.  Crypto mining.

Source: Yev_1234 / Shutterstock

Hedgehog in the fog (HIF-USD) is a new trendy memecoin on TONNE (TON-USD). Less than a week after its launch, HIF has become the largest meme community in the entire TON ecosystem, which has seen significant growth over the past few months. Memecoins on this channel could also see a lot of hype in the future. This project is very new and has already been listed on a major stock exchange: MEXICO.

Additionally, HIF is now the 2nd pool on TON, only NOT is ahead. As such, they have a fairly large marketing budget, HIF could take off, particularly with the significant support of the KOLs they have, notably Coach K Crypto.

I believe there will be more quotes to come from the same market maker as Beer corner (BEER-USD). Buy crypto early at a Market capitalization of $4 million leaves room for significant upward movements in the weeks to come. Beercoin reached a market capitalization of over $300 million at one point.

As of the date of publication, Omor Ibne Ehsan did not hold (neither directly nor indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the author, subject to InvestorPlace.com Publishing Guidelines.

Omor Ibne Ehsan is a writer at InvestorPlace. He is a self-taught investor who focuses on growth and cyclical stocks that have strong fundamentals, value and long-term potential. He is also interested in high-risk, high-return investments such as cryptocurrencies and penny stocks. You can follow it LinkedIn.

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