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Meme Cryptocurrencies Surpassing Bitcoin

TokenTalk Staff

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Meme Cryptocurrencies Surpassing Bitcoin

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The first half of 2024 will probably be best remembered in the country of digital assets for the debut of spot bitcoin exchange-traded funds (ETFs), but there have also been several lesser-known cryptocurrencies that have stolen the show.

Shiba Inus were the face of the 2024 cryptocurrency rally.

NurPhoto via Getty Images

Main aspects

According to CoinGecko, the market value of all cryptocurrencies increased by $661 billion in the first six months of the year; of that gain, $409 billion was attributed to Bitcoin, by far the most valuable cryptocurrency in the world.

Bitcoin’s 48% surge, as institutional investors warmed to the asset, was outpaced by several “meme coins,” tokens with little intrinsic value whose prices tend to fluctuate wildly as traders who often congregate on social media accumulate and mine coins.

Dogwifhat, an aptly named token whose logo is a Shiba Inu wearing a knitted hat, is the highest-yielding of the roughly 70 coins with market caps above $1 billion, gaining about 1,300%, while Pepe, a token named after the often-popular meme frog associated with marginal circles on the right, it is the second best performer of the first half with a gain of almost 800%, according to CoinMarketCap.

Floki, a coin named after the Shiba Inu dog owned by the world’s richest man, Elon Musk, and a coin known simply as Shiba Inu, have surged 418% and 67%, respectively, again outpacing Bitcoin.

Shiba Inus (the dog, not the token) are undoubtedly the mascots of the meme coin boom, but perhaps the most famous dog-based token, dogecoin, has gained a relatively paltry 35%.

Several tokens outside the meme coin umbrella have also seen higher rallies than Bitcoin, including Ether (up 51%), the Ethereum network token that could be approved for Bitcoin-like ETFs. as soon as this summer, and Binance Coin (up 81%), the coin often abbreviated to BNB that is issued by the world’s largest cryptocurrency exchange and owned primarily by Binance’s struggling billionaire founder Changpeng Zhao.

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Top 10 Best-Performing Cryptocurrencies (Market Cap Above $1 Billion)

  1. Dogwifhat: Up 1,306%, Market Cap of $2.1B
  2. Pepe: Up 815%, Market Cap of $5B
  3. Artificial Superintelligence Alliance: Up 545%, Market Cap of $3.6B
  4. Floki: Up 392%, Market Cap of $1.6B
  5. JasmyCoin: Up 343%, Market Cap of $1.4B
  6. Arweave: Up 188%, Market Cap of $1.8B
  7. Core: Up 152%, Market Cap of $1.2B
  8. Toncoin: Up 135%, Market Cap $18.8B
  9. Bitget: Up 100%, Market Cap of $1.6B
  10. Bonk: Up 90%, Market Cap of $1.5B

What is a meme coin?

There is no hard and fast rule as to what constitutes a meme currency, but it is generally considered a cryptocurrency that is tied to a viral internet joke and whose price moves even more dramatically than the already volatile asset class. Notably, these coins tend not to have a use case beyond speculative investing, unlike, say, bitcoin, which Some seen as a modern alternative to gold for its ability to retain value independent of inflation or central bank activity. All cryptocurrencies other than bitcoin are refering to as altcoins (alternative coins), many of which are not meme coins. Investing in memes is not exclusive to cryptocurrencies, as the stock market has seen a surge in social media-driven momentum trading in recent years with shares of companies like GameStop and AMC.

Crucial quote

“Meme coins could capture the public’s attention today and disappear tomorrow,” BankRate analyst James Royal warned. The CNBC“If demand dries up, all that will be left are worthless digital assets and a beautiful story,” Royal added.

Key context

First minted in 2009, bitcoin and the broader cryptocurrency market experienced a surge in popularity and value during the COVID-19 pandemic, rising from a low of nearly $4,100 in March 2020 to a peak of nearly $69,000 in November 2021. The sector then endured the brutal “crypto winter” of 2022, marked by a series of high-profile failures such as Sam Bankman-Fried’s FTX, which sent bitcoin below $16,000 by the end of 2022. The cryptocurrency market then rebounded as broader market conditions improved and investors became excited about the prospect of spot bitcoin ETFs, which brought in about $15 billion in new capital in their first five months of existence, according to Bernstein analysis. Bitcoin peaked at $73,768 in March. The stock is currently trading about 15% below that peak, but continues to outperform the S&P 500 stock index year to date.

Surprising fact

Despite the rise in value of several other cryptocurrencies, bitcoin has reached its most dominant level since the first half of 2021 this year, second at CoinMarketCap. Bitcoin represents over 55% of the aggregate market value of the global cryptocurrency market, up from 40% at the end of 2022.

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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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Donald Trump-Related Crypto Tokens Surge as Former President Survives Assassination Attempt

TokenTalk Staff

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Donald Trump-Related Crypto Tokens Surge as Former President Survives Assassination Attempt

In short

Several cryptocurrency tokens associated with the former US president who was shot earlier today have soared in value as he survived the assassination attempt.

According to more recent sources, the man has reportedly been released from a local hospital and is returning to New Jersey.

The cryptocurrency industry has its controversial moments, and the constant creation of tokens tied to global events is one of them.

The ongoing battle for absolute power in the United States between Republican candidate and former President Donald Trump and the current 46th President, Joe Biden, has allowed developers to create several tokens related to both, whose value is often influenced by the events surrounding them.

Crypto-potato reported before the notable price fluctuations of the largest-cap cryptocurrencies that followed the shooting, which led to impressive gains for BTC, SOL, and others.

However, Trump-related tokens have seen even more significant increases. This is perhaps due to the failed assassination attempt and Trump’s reaction immediately afterward, when he stood up and raised his hands in a rather spectacular manner.

As a result, MAGA (TRUMP) skyrocketed over 30% after the news broke. Despite a slight retracement since then, the token is still up 26%, its market cap has risen to $370 million, and it is currently the 167th largest crypto asset.

Another coin, (Donald Trump – TRUMP2024), created primarily for the ongoing presidential battle, has surged 40% in the same time frame. DONALD TRUMP (DONALD) is another example of developers trying to capitalize on the current craze. So far, it seems to be working, as it has surged 35% on the day.

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Top 3 Undervalued Tokens Growing 10x This Year!

TokenTalk Staff

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Top 3 Undervalued Tokens Growing 10x This Year!

The cryptocurrency market has shown increased price volatility this week, highlighting increased buying and selling pressure in the cryptocurrency space. Additionally, major tokens have successfully retested their important support levels, indicating a potential bullish price action in the near future.

On the other hand, mid-cap and small-cap altcoins have seen the highest gains, indicating growing investor interest in these crypto tokens. Are you considering investing in undervalued small-cap altcoins for the next bull rally?

Read on because in this article we have covered the top 3 altcoins that are currently trading at significant discounts to their all-time highs, but have solid long-term fundamentals.

Serial Number (MDX):

Built on the HECO chain and launched in January 2021, the Mdex project is an Automated Market Making (AMM) exchange protocol. It is decentralized and works on the concept of pooled funds. Specifically, it uses a dual chain and can also operate on the Ethereum network.

TradingView: MDX/USDT

Notably, MDX price has increased by 129.91% in a day and 132.05% in the past week. This highlights a growing bullish sentiment for the altcoin. Furthermore, with a market cap of $75.215 million, it has secured the 410th position.

The technical indicators SMA and RSI have seen a sharp increase, indicating increased buying-selling pressure in the cryptocurrency sector.

Furthermore, Mdex price is currently discounted by over 99% from the previous all-time high of $10.06 and with strong fundamentals, this altcoin could see a price surge in the near future.

Renzo (REZ):

Renzo is a Liquid Staking token and strategy manager on EigenLayer and is based on the Ethereum chain. Offering a higher yield than ETH staking, it is the interface to the EigenLayer ecosystem and AVS protection.

TradingView: REZ/USDT

With a trading price of $0.0658, a circulating supply of 1.15 billion, and a total supply of 10 billion, Renzo price has secured the 409th position with a market cap of $76,430 million.

The SMA indicator is showing a bullish convergence in the 1D time frame, indicating a strong bullish outlook in the cryptocurrency market. The MACD has been steadily rising in the green histogram with its averages showing a positive crossover. This indicates a positive outlook for the REZ price.

Horizon (ZEN):

A zero-knowledge network-enabled blockchain powered by the largest node infrastructure in the industry, the Horizen project is truly unique. Its interoperability is enabled by the Zendoo protocol. Horizon’s native token “ZEN” is a mineable PoW coin and is listed on all major exchanges.

TradingView: ZEN/USDT

ZEN price continues to trade under bullish price action adding 14.91% to its portfolio in the last day and 23.15% in the last week. Furthermore, it is up 53.62% in the last 30 days and has recorded a Year-to-Date (YTD) return of 31.52%.

With a trading price of $11.35, a circulating supply of 15,204,481 tokens, and a maximum supply of 21 million tokens, it has successfully secured the 237th position in the global cryptocurrency ranking with a market capitalization of $179.56 million.

If the market continues to trade with a bullish sentiment, Horizen price will prepare to head towards its all-time high (ATH) in the coming months. However, a bearish price action could push ZEN coin price towards its low of $7.85.

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TokenTalk Staff

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NFTs – Decrypt

Italian: https://news.google.com/./articles/CBMiVGh0dHBzOi8vZGVjcnlwdC5jby8yMzk2OTIvYml0Y29pbi1wcmljZS1jbGltYnMtdHJ1bXAtbWVtZS1jb2lucy1zdXJnZS10cnVtcC1hdHRhY2tlZ NIBWmh0dHBzOi8vZGVjcnlwdC5jby8yMzk2OTIvYml0Y29pbi1wcmljZS1jbGltYnMtdHJ1bXAtbWVtZS1jb2lucy1zdXJnZS10cnVtcC1hdHRhY2tlZD9hbXA9MQ?hl=it-IT&gl=IT&ceid=IT%3Ait

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Crypto: Bitcoin ETFs Herald a Less Febrile Token in the Long Term, Traders Say

TokenTalk Staff

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Crypto: Bitcoin ETFs Herald a Less Febrile Token in the Long Term, Traders Say

Bitcoin began the week with a slump that fueled fears of outflows from dedicated U.S. exchange-traded funds. Instead, dip buyers poured money in, a pattern that some say points to a less volatile token in the long run.

A net $737.5 million was added to the 11 ETFs in the four days through Thursday, stabilizing Bitcoin near $58,000 after a dip to $53,602 on July 5, driven by sell-offs of seized tokens and fears of divestments by creditors of the failed Mt. Gox exchange.

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