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Memecoins

Memecoins made massive gains on Monday

TokenTalk Staff

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Memecoins made massive gains on Monday

The leader in memes is back, and so are coins.

The market was all-in on memes on Monday, which helped drive the value of tokens like Dogecoin (DOGE -3.46%) and Pepe (PEPE -5.38%), which has little value but the meme itself. The biggest catalyst was not Wall Street news, but rather the return of a popular market. Reddit personality named Roaring Kitty, who brought the the stock meme craze in the first place.

Over the past 24 hours, Dogecoin has rallied strongly, up 5.1% as of 3 p.m. ET today. Pepe was up 14.3%, dogwifhat jumped 3%, and Bonk (CRYPTO: BONK) gained 3.1%. All of this happened while most of the crypto market was down.

The meme lives

Memes, or culturally relevant images or concepts that spread widely across the Internet, took over the market today after a single tweet from Roaring Kitty after three years of dormancy. Stock actions like Stoppage of play, AMCAnd Hertz skyrocketed with no news other than the tweet.

What makes this type of market reaction so impactful is how quickly it spreads. By the time the exchange opened today, it was clear that everyone was aware of Roaring Kitty’s presence, as all the media had been talking about it.

In the crypto market, the meme trend of 2021 never died and has arguably gained momentum over the past three years. It is therefore natural that meme coins are among the most important today.

When will the meme end?

The biggest question for investors is how long this move will last. Dogecoin was the big winner in early 2021 but lost more than 90% of its value between the peak of 2021 and the end of 2022.

Dogecoin Price data by Y charts.

The same could be said for meme stocks that rebounded and then lost their gains.

The problem with meme investing is that the meme will only last for a limited time because there are no fundamentals driving the movement. Prices for tokens like this depend on the price the next buyer will pay, and if the meme loses momentum, that price may drop.

The best investment in a meme market

It may not be as exciting, but I think the best buys in this crypto market are assets that contribute to the technological improvement of blockchain. Tokens like Ethereum And Solana which provide the currency for the blockchains on which businesses are built and efficient ways of carrying out financial transactions are also emerging.

Meme coins have not proven to have the ability to create this type of financial ecosystem or development to be used as a medium of exchange for financial transactions, so they are unlikely to turn a meme into a fundamental disruption.

I also think that relatively weak economic indicators, such as rising inflation and interest rates, as well as a weakening job market, could make the market for purely speculative assets difficult in the future.

A few years ago, stimulus checks sparked rampant speculation in cryptocurrencies and memecoins, but when the checks stopped, the chips fell. I think a similar crash will happen again; we just don’t know when.

Travis Hoium has positions in Ethereum and Solana. The Motley Fool posts and recommends Ethereum and Solana. The Motley Fool has a disclosure policy.

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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

As Meme Coins Rise, Will DOGE and SHIB Increase 2X?

TokenTalk Staff

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Top Analyst Says Meme Coins Delayed Altcoin Season by Overshadowing “Good Altcoins”

As the altcoin market’s bullish trend accelerates, meme coins are making a comeback. Amid the recovery, the bull run of major coins like DOGE and SHIB presents long opportunities.

As community-driven coins quickly gain momentum, the upside potential is lucrative for secondary traders. Will rising DOGE and SHIB prices lead to a 2x increase this month?

As DOGE Holds on to $0.12, Will This Meme Coin Skyrocket?

After the bearish reversal from $0.22, DOGE price action creates a resistance trendline and a trend lower. As the fall tests the $0.125 strong demand zone, the reversal chances could rebound soon.

Trading View

Currently, DOGE price is trading at $0.1252 with an intraday gain of 2.71%. Additionally, price action reveals a break below the 61.80% Fibonacci level, warning of a crash below the psychological $0.10 mark.

However, the intraday gain and weaker price rejection provide a potential bullish reversal opportunity. Despite the bearish context, the meme coin offers an upside potential of 20% to reach $0.1486.

Will SHIB Price Reverse the Negative Cycle for a 30% Upside?

After the rise in early March, the SHIB price trend fails to maintain the upward momentum. The lack of zeal causes the channel to decline in the daily chart and causes the Shiba Inu price to fall by 48% over the last 100 days.

Trading View

Currently, SHIB price action reveals a lower lower formation with the breakout of the psychological mark of $0.000020. Additionally, the meme coin is trading at $0.0000188 with an intraday gain of 4.37%, creating a bullish candle above $0.000018.

A potential retest of $0.000020 could increase the chances of an uptrend if it appears above the psychological mark. In such a case, an early reversal of the negative cycle may retest the overhead resistance trendline near $0.00002470.

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Memecoins

Trump-Inspired Memecoins Crash 30% After ‘Trump Coin’ Rumors

TokenTalk Staff

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Trump-Inspired Memecoins Crash 30% After 'Trump Coin' Rumors

The crypto industry has been a crucial topic in the campaign trail for the US presidential elections in November. This year, presidential candidates have embraced cryptocurrencies to garner industry support. As a result, the community capitalized on the momentum with Memecoins.

PolitiFi tokens, a new category of memecoin inspired by political figures, performed remarkably during this second quarter. Trump-inspired tokens became the talk of the town after the Republican candidate began supporting cryptocurrencies. However, these memecoins suffered a massive 30% drop in the last 24 hours.

An official DJT token?

On Monday, Pirate Wires account X announced the launch of a so-called official “Trump Coin.” According to the report, the token is allegedly run by Trump’s 18-year-old son Barron Trump. “According to conversations, Trump is launching an official token – $DJT on Solana, Barron in the lead,” the post read.

Mike Solana, chief marketing officer of Founders Fund and editor-in-chief of Pirates Wires, sharing a smart contract address apparently linked to the token. Additionally, he said he was “merely reporting” what he knew “via sources” and that he “did not speak directly with Trump.”

Likewise, Martin Shkreli claimed that the DJT token was real on an X Space. He then maintained his position, pointing to a friend’s “confirmation” of Barron Trump. In a post, the 17-year-old said: “$DJT IS THE ONLY REAL TRUMP TOKEN. »

CoinsBarron Trump’s BFF ‘confirms’ DJT’s authenticity. Source: Martin Shkreli on X

However, the crypto community remains skeptical on the authenticity of the memecoin. Several users pointed out various red flags surrounding the “official” token, including DJT’s X account.

One user pointed out that the official X account had a “strange” following list. This list includes controversial figure Andrew Tate, American streamer Adin Ross and Shkreli.

Additionally, crypto analysis company Bubblemaps revealed that 67% of the token supply was in a single cluster. Raydium Concentrated Liquidity is the largest stock, accounting for 43% of the supply.

Many community members expressed their concerns with humor. Some users have suggested that serial scammer Sahil Arora, responsible for several celebrity memecoins rugs, orchestrated the symbolic launch. Others questioned whether the launch’s inconsistencies made it “more or less likely” that it was a Trump family business venture.

CoinsThe crypto community is sharing memes about the token launch. Source: Exit on

At the time of writing, no official sources have confirmed Trump’s involvement in the DJT token.

Trump Memecoins Fall

More than a month ago, the former American president declared he was “good” with cryptocurrencies and wanted to make it a “robust” industry with clear regulations. At the time, Trump-inspired memecoins soared more than 63% following his statements. Additionally, the PolitiFi sector has exploded, with tokens like BODEN increasing by almost 30%.

However, the story is different this time as rumors about an official Trump token have negatively impacted memecoin performance. PolitFi tokens are reporting a 30% decline over the past 24 hours, with a market cap of $1.03 billion.

Trump-related tokens have been hit hardest in the sector. Many fell between 20 and 30% in the last day. MAGA (TRUMP), the largest token linked to the former US president, saw its price fall by almost 50% in four hours.

Following rumors of “Trump coin”, TRUMP abandoned from the price range of $10.8 to $5.6 before falling back below the $7 mark. At the time of writing, the token is trading at $6.94, a 38.7% retracement over the past 24 hours.

Likewise, Trump Mania (TMANIA), Super Trump (STRUMP), and Doland Tremp (TREMP) suffered a price decline of 35.2%, 20%, 37.6%.

Memecoins, TRUMP, TRUMPUSDTTRUMP performance in three-day chart. Source: TRUMPUSDT on Trading View

Featured image from Unsplash.com, chart from TradingView.com

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Memecoins

Ether and Meme Coins Lead Recovery as Bitcoin Remains Moderate

TokenTalk Staff

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Ether and Meme Coins Lead Recovery as Bitcoin Remains Moderate

The digital asset market marked on the rise during the European morning with Ether fetching $3,500. ETH is up over 4% in the past 24 hours, trading at $3,540 at the time of writing. The CoinDesk 20 Index (CD20) added about 1.6%. DOGE is up almost 3.5% after its Tuesday fall, while its compatriot SHIB is also up more than 3%. Bitcoin remains subdued, trading around $65,400, up 0.2% from 24 hours ago. U.S. spot Bitcoin ETFs saw additional outflows worth $152.4 million on Tuesday.

Wallets tracked by CryptoQuant show whales have sold over $1.2 billion worth of BTC in the last two weeks. These long-term bitcoin holders are showing few signs of a recovery in demand, indicating a continued lack of upside potential for the world’s largest cryptocurrency. “Traders are still not increasing their bitcoin holdings and growth in demand from large holders still lacks strength,” the analysts wrote. Market observers say crypto miners may increasingly turn to the booming AI sector rather than bitcoin to conduct their business, prompting people to sell their bitcoin rewards instead of trading them. keep. Both industries rely heavily on powerful computer chips to generate and store data.

Stocks linked to Bitcoin and cryptocurrencies are underappreciated and ripe for institutional adoption, according to broker Bernstein. While BTC and Bitcoin ETFs may have shown promise before disappointing In recent months, Bernstein has predicted the approval of ETFs by major wire companies and large private banking platforms in the second half of the year. Bitcoin ETF inflows are expected to accelerate in the third and fourth quarters, the report said, and the next stage of adoption will be driven by large advisors approving ETFs and allocation margin from existing portfolios. Bernstein outperformed the ratings of publicly traded bitcoin-adjacent companies like MicroStrategy, Robinhood, and miners Riot Platforms and CleanSpark.

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Memecoins

The Sandbox buys PEPE, SHIB, BONK memecoins to support “their specific communities”

TokenTalk Staff

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New meme coin Dogecoin20 pumps 140%; Dogeverse to explode next?

Metaverse-centric platform The Sandbox has purchased six “major memecoins” in an effort to provide utility to its own users and the broader memecoin collective.

The sandboxan open-world online multiplayer game, announced the purchase of six memecoinsincluding PEPE and DOGE, with the aim of demonstrating its commitment to “staying on top of industry trends”.

In an environment announcement on June 18, The Sandbox announced that it had acquired PEPE, SHIB, EVEN, DEGEN, DOGEAnd BONK to support “their specific communities” and provide utility to “both our users and the broader memecoin collective.”

“We believe that cultivating creativity is the cornerstone of the open metaverse and are taking the time to engage and contribute to the growth of the Web3 ecosystem for the benefit of those within it.”

The sandbox

The decision to purchase memecoins reflects their growing importance, The Sandbox explains, adding that memecoins have gained “significant visibility in recent years” and attributing their success “largely to the support of high-profile individuals.”

Although the amount of the deal was not disclosed, The Sandbox announced its intention to use the purchased memecoins for its new initiatives, although the timeline was not provided. Crypto.news has contacted The Sandbox for comment and we will update the article if we receive a response.

The purchase comes just weeks after The Sandbox secured $20 million from Kingsway Capital and Animoca Brands, bringing its valuation to $1 billion. Like crypto.news reportedThe funding is expected to support The Sandbox’s initiatives to boost its creator economy, expand its decentralized mobile metaverse platform, and improve social features and avatar capabilities.

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