Memecoins
Memecoins Reach $60 Billion, Galaxy Digital CEO Highlights Their Influence
Galaxy Digital CEO Mike Novogratz has reaffirmed his unwavering support for meme coins, describing them as the “cornerstone” of the crypto economy.
The endorsement comes amid a divided industry where many experts reject coins due to their origins as Internet jokes and their perceived lack of utility.
In a social media post on X on Thursday, Novogratz shared a video in which he expressed his views on the influential meme coin narrative. He highlighted that despite differing opinions within the industry, meme coins have gained a significant presence in the market, with a combined valuation of around $60 billion.
Memecoins – whether you’re a fan or not – have become a cornerstone of the crypto economy… In today’s market, they are one of the most powerful narratives there is. HAS @galaxyhq We estimate that memecoins on permissionless blockchains have an aggregate market capitalization of more than… pic.twitter.com/wihxYIPwxi
–Mike Novogratz (@novogratz) June 12, 2024
Novogratz addressed the common idea that meme coins are just a fleeting trend. He argued that memes possess lasting relevance and that there are two main strategies for profiting from coin investments. The first approach, he says, is to select a meme that has strong community support and strong humorous appeal. He said a successful meme investor must have a “quirky, fucked-up sense of humor” and the foresight to identify memes that will resonate with audiences.
Investment Opportunities in Meme Coins
The second strategy, described by Novogratz, is to create a meme coin. He believes that meme creators are in a unique position to make substantial financial gains in the market. This view aligns with the growing trend of individuals and groups launching their own coins, capitalizing on the viral nature of Internet culture.
Novogratz shared an anecdote about his son-in-law, who is deeply engaged in the meme coin market. He described him as a “great meme investor,” highlighting his dedication to Dogecoin (DOGE) and Dogwifhat (WIF). According to Novogratz, his son-in-law consistently profits from coin investments, demonstrating an intuitive understanding of the market despite never selling his holdings.
“Yes, my son in law is a great investor in memes, I didn’t think such a thing existed until I met this guy, and he keeps making money, he never sells, he loves Doge , he loves Dogwifhat,” he remarked.
Controversial opinions within the industry
Despite Novogratz’s enthusiastic support, his opinions on meme coins are not universally accepted within the crypto community. Charlie Silver, CEO of decentralized finance platform Permission.io, responded to Novogratz’s post by calling meme coins “dumb casino chips.” Silver argued that the true cornerstone of the crypto economy has not yet been established.
“I hate to disagree. Meme coins are just stupid casino chips. The cornerstone of the crypto-economy has not yet emerged,” he wrote on X.
Others in the industry have also expressed skepticism regarding the meme coins. A user identified as McGavin called the meme coins “inefficient market activities.” echo a common criticism among detractors.
Despite the criticism, some meme coins have recently outperformed major cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH). For example, Daddy Tate (DADDY), associated with media personality Andrew Tate, saw a remarkable 218% increase in the last 24 hours, according to DEX Screener. In contrast, Bitcoin saw a modest increase of just 0.32% during the same period.
These gains in the meme coin market illustrate their volatile but potentially lucrative nature, which continues to attract a dedicated segment of investors. Novogratz’s support highlights the growing influence of meme coins within the broader crypto economy, despite ongoing debates over their long-term value and utility.
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.
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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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