Memecoins
Exploring the Memecoin Market: Scams, Celebrity Influence, and the Path to Safety
Recently you sharing 91% of memecoins are scams, rip-offs or have vulnerabilities. Could you tell us more about these issues in the memecoin market and what could be causing them?
Creating a token on Solana today is no harder than writing an email. Anyone can launch a new asset using no-code solutions in just a few minutes. You don’t need to have any experience, expertise, or skills.
This creates huge potential for the development of the memecoin ecosystem on Solana – while also being its Achilles heel. When launching a token is so easy, many new assets emerge, most of which are of very poor quality – vulnerable code, weak strategy, and low community engagement.
Some people create bad projects because they don’t know how to do it any other way, but some do it intentionally. While the memecoin market is booming, fraudsters are launching their tokens in the hope of making a profit. Market conditions are favorable for this, while there are no established mechanisms to control this behavior.
- What should cryptocurrency users focus on to identify the 9% of memecoins that are actually worth it?
There are several red flags that indicate that a project is less likely to be a scam. The first two are an established community of several thousand people on Twitter and Discord, and a well-written whitepaper describing tokenomics and token allocation. It is also important to check the number of token holders and the amount of tokens distributed among them. If many tokens are held in only one or a few addresses, this is a potential red flag.
It’s worth considering tokens that are already listed on exchanges. While it’s not a silver bullet, reputable exchanges do some due diligence before listing new assets. Also, check for independent security audits by a credible organization. This is one of the best ways to know if developers can’t technically pull the rug out.
It’s also a good idea to know who is building the project. In the memecoin environment, it’s common for the developer’s identity to be unknown. While this isn’t always a sign of a scam, knowing the team would build trust. That’s why at Memepad, we KYC all token founders to ensure accountability.
- A current trend in the memecoin market is the rise of celebrity-endorsed memecoins. How do you think celebrity influence affects the mainstream image and adoption of cryptocurrencies?
I like the concept of celebrity tokens. Celebrities issue crypto assets to strengthen ties with their fan base, and fans can feel involved in their favorite star’s efforts. At the same time, it allows thousands of new users to integrate crypto, giving them an easy introduction to digital assets. It’s a win-win situation.
Unfortunately, in practice, things don’t quite work out that way. Celebrities often create assets just to make extra money and use questionable methods to promote their assets, while the tokens themselves lack solid use cases. The controversy surrounding celebrity tokens is unlikely to boost the reputation of cryptocurrencies in the public eye.
- What role do celebrities play in promoting questionable projects, and how can this narrative be improved?
Typical promotion of celebrity tokens involves social media advertising and shilling in communities, similar to how other memecoins enter the market. Unfortunately, aside from the way they are promoted, celebrity tokens are often associated with the same scams and controversies seen in the memecoin market. Having a celebrity name in the token’s title doesn’t guarantee that it won’t cause any problems.
Recently, the popular tokens launched by Caitlyn Jenner, an American media personality, and Iggy Azalea, an Australian rapper, have been at the center of a controversy involving Sahil Arora – an influencer who allegedly scammed the stars while launching and promoting their tokens. A few years ago, the SEC fined Kim Kardashian for illegally advertising a dubious project, EthereumMax, which quickly fell to zero.
Malicious people who organize token launches or listings often trick celebrities. These scammers buy up most of the supply before the celebrity promotes the token, and once the promotions start, they get rid of all their tokens.
Celebrities need a more sustainable approach to launching tokens. Professional launchpads with skilled technical and marketing support could make tokens more than just a short-term money-making tool. Assets with strong use cases and secure code can enhance a celebrity’s reputation and provide thousands of crypto novices with a smooth integration into Web3.
Learning the ropes and making the necessary connections takes years: celebrities may not have the time or expertise to delve deeply into the subject. Teaming up with a trusted partner can be a great way for them to navigate the complexities of developing and supporting a memecoin project.
- You suggested that one way to improve the memecoin market would be to create a more secure and sophisticated infrastructure. How could this be addressed to ensure the security and verification of projects among existing memecoin platforms and launchpads?
The memecoin market is nothing but the Wild West, so users need proven methods to identify non-fraudulent projects to invest in. Professional memecoin launchpads could become such islands of safety.
Unfortunately, not all industry players believe in this approach. Memecoin launchpads like Pump.Fun, GemPad, and PinkSale offer minimal barriers to entry, advertise 10-minute token creation and launch, and lack strict verification procedures. As a result, scam projects thrive, as do the risks for investors.
- What are the main benefits for memecoin developers working with launchpads?
Launchpads guide the crowdsale process. They help developers attract thousands of users eager to find a gem to invest in. The community, in return, gets a carefully selected project – with solid tokenomics, successful security audits, and due diligence done for them. It’s a win-win: launchpads help developers find an audience for their launch, and the audience gets a quality project.
- What future developments or features can we expect from Memepad to further improve the security and user experience of memecoins, both for investors and developers?
Our goal is to be more than just a launchpad, but rather an ecosystem where projects, users, and investors communicate and benefit from each other. In this MemeVerse, the community has the opportunity to participate in token launches of proven quality, while projects benefit from enormous growth opportunities.
Recently, we successfully completed a sale of MPAD, the platform’s native token that we will soon launch. The token will introduce multiple use cases for developers and users, balancing the project’s economics and creating a foundation for its long-term growth. We are currently selecting a date to launch the token in the context of the most favorable market sentiment, likely in July. Currently, the team is focusing on product development and strategic marketing to ensure a successful launch.
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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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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
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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