Memecoins
Is the rising market cap of meme coins a sign of bigger things to come?
Will the surge in meme coins continue? Opinions are divided on whether this trend will last or if it is simply a bubble ready to burst.
Meme Coins are once again in the spotlight. During the last 30 days, the market capitalization of meme coins surged over 36%, leaving many traditional altcoins and even Bitcoin (BTC) in the dust. Since June 3, the market capitalization amounts to an impressive $63.5 billion.
Seven of the top 100 cryptocurrencies by market cap are meme coins. Dogecoin (DOGE), the largest coin by market capitalization, saw a 22% gain, trading at $0.1614. Not far behind is Shiba Inu (SHIB), up 10% and trading at $0.00002598.
However, the real stars of this rally are Pepecoin (PEPE) and FLOKI (FLOKI). PEPE has soared over 100% in just 30 days, now trading at $0.0000153. FLOKI is not far behind, with a 64% increase, trading at $0.0002683.
The excitement doesn’t stop there. A whale recently grabbed 90 million DOGE, worth $14.28 million, from Robinhood.
Additionally, Whale Alert, an on-chain transaction tracking platform, reported a massive movement of 499.42 million DOGE, worth approximately $81.10 million, between two unknown wallets.
So what’s driving this rise in meme coins? Why do they outperform many other cryptocurrencies? Let’s understand what’s fueling this hype and where it could go from here.
New entrants are making noise
As meme coins continue to rally, Solana (GROUND) Even coins based on currencies are having their own spectacular run. Over the past 90 days, the dogwifhat meme coin based on Solana (Wireless) has soared over 134%, now trading at $3.39.
But this is only the beginning. A new player, Book of Meme (BOMÉ), has climbed into the top 100 cryptocurrencies, with a staggering gain of over 1,385% in the last 90 days, currently trading at $0.01354.
The rise of Solana-based meme coins is not happening in isolation. Celebrity tokens recently debuted on Solana, adding to the buzz around meme coins.
Last week, Caitlyn Jenner spear a coin called JENNER via the SOL-based meme coin portal pomp.fun. However, the launch was marred by controversy.
Shortly after trading began, developers abandoned the token, causing its price to plummet and leading to accusations against Jenner of orchestrating a rug pull.
Reports later revealed that a notorious conman named Sahil was behind the incident. Sahil allegedly took advantage of Jenner’s lack of knowledge in the web3 space, using his role as a middleman to profit from the celebrity coin.
if anyone wants the TLDR on the @Caitlyn_Jenner the situation is here
She was never hacked, her team was socially engineered by a guy named Sahil.
He was the “middleman” and his role was to launch the token for Caitlyn because the team knew nothing about cryptography.
After… pic.twitter.com/yZloKHlon6
–Roxo (@CryptoRoxo) May 27, 2024
Less than 48 hours later, Australian rapper and OnlyFans model Iggy Azalea launched a token under the ticker MOTHER. According to DEX Screener, Azalea’s famous crypto surged over 30,000%, reaching a market cap of $30 million.
Iggy Azelea had a successful stealth memecoin launch 🤯
About 2.5 hours ago, a token named $iggy launched, briefly reached $4-5 million, and then sold out.
At the same time a token named $MOTHER spear.
Iggy tweeted it about 30 minutes ago and it shot up to $15 million. pic.twitter.com/GexTU81rSZ
– TylerD 🧙♂️ (@Tyler_Did_It) May 29, 2024
But the drama didn’t stop there. Sahil also launched an IGGY coin, trying to capitalize on the Azalea hype and make millions in another pump and dump scheme.
In response, Azalea distanced herself from Sahil’s IGGY piece. She used X Spaces to promote her own token and expressed enthusiasm for the decentralized meme ecosystem.
“It’s a bet, it’s a game. That’s why it’s fun. Play the game or don’t play it. It’s your decision,” Azalea said in an online chat.
Why do meme pieces come together?
There are several factors driving the meme corner rally, and it’s not just about fun and memes. One of the main reasons is positive news from regulators.
The Securities and Exchange Commission (SECOND) recently approved eight Ether spot exchange-traded funds (AND F) with large companies. Although Ether itself has only seen a modest increase, this regulatory green light has sparked optimism in the crypto market, particularly among the riskier and higher-reward meme coins.
Historically, pro-crypto news tends to generate enthusiasm and money flows into the ecosystem, which trickles down to smaller projects. Meme coins, with their relatively small market capitalizations, often experience wild swings during these bullish periods.
However, it’s not just about one-off events like ETF approvals. The recent hype around Solana has carved out a niche for itself as the go-to channel for “speculative fun,” attracting traders willing to bet on meme coins.
It should be noted that the location ETH ETF approvals are still in their early stages. The SEC approved the initial Forms 19b-4, allowing the securities to be listed on an exchange.
However, the final S-1 filings, which detail the structure and management of the ETFs, have not yet been approved. Once these are given the green light, we could see even more market activity and potential price movements.
The community and experts weigh in: will the meme coin rally continue?
As the meme coin rally continues to capture attention, opinions are divided as to whether this trend will last or if it is simply a bubble waiting to burst.
On Twitter (X), a crypto analyst spoke about the importance of current price levels for major coins like FLOKI and DOGE. According to him, these coins are at their uptrend support, a crucial level that could determine the next move.
It’s time to pay attention to the main coins$FLOKI And $DOGE are currently sitting right at their uptrend support
If they bounce back, many memes will likely follow
If they lose support, the entire meme coin market will experience a deeper correction pic.twitter.com/ISg7h4F0vz– crypto bullet 📈 (@SilverBulletBTC) May 31, 2024
If they bounce off this support, we could see a broader rally in meme coins. However, if they lose support, a deeper correction could ensue, affecting the entire meme coin market.
Another user expressed concerns about the flow of capital into meme coins and celebrity tokens. He pointed out that many good projects are suffering as investors pour money into these high-risk assets.
Good projects bleed while the plebs put everything into memecoins and celebrities.
It’s time to buy. When the inevitable all-in comes, capital will shift to quality.
This is when the real pumps happen.
Turn on notifications, I’ll make you millions again.
–Good blood (@bloodgoodBTC) May 31, 2024
However, he views this as a temporary phase, predicting that once the inevitable corrections (or “mats”) occur, capital will return to quality projects.
A prominent figure from Andreessen Horowitz (a16z), Eddy Lazzarin, also provided a critical perspective. He compared the meme coin ecosystem to a risky casino, suggesting that it presents the crypto industry in a negative light.
Memecoins are changing the way the public, regulators, and entrepreneurs view crypto.
At best, it looks like a risky casino. Or a series of false promises masking a casino.
This profoundly affects adoption, regulation/laws and manufacturer behavior.
I see the damage every day. You should too.
– Eddy Lazzarin 🟠🔭 (@eddylazzarin) April 24, 2024
“At best, it looks like a risky casino. Or a series of false promises masking a casino,” Lazzarin said, warning that this perception could hinder adoption, regulation and innovation in the industry.
Ethereum co-founder Vitalik Buterin also weighed in: criticize the recent wave of meme pieces, especially those with questionable themes or associations.
Buterin expressed his lack of enthusiasm for plays that initially promise excitement but then lead to disappointments and losses.
Meanwhile, Binance reported an explosion in the number of new tokens, particularly on the Solana network. Since April, more than a million new tokens have been created, including more than 640,000 on Solana alone, mostly meme coins.
The various opinions and data suggest that although meme coins are seeing a remarkable rebound, the sustainability of this trend is questionable. It is therefore essential that you exercise caution, keeping an eye on market trends and inherent risks. Never invest more than you can afford to lose.
Memecoins
Memecoins dominate major derivatives in terms of open interest | Flash News Detail
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Memecoins
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):
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Memecoins
Solana down 8% as its coins Dogwifhat, Billy and Neiro fall further
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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