Memecoins

more than just a trend, it’s a phenomenon — Retail Technology Innovation Hub

Published

7 months ago

29 May, 2024

more than just a trend, it's a phenomenon — Retail Technology Innovation Hub

The history of memecoins

The most famous example of memecoins is the early cryptocurrency Dogecoin, inspired by Elon Musk’s favorite meme featuring a Shiba Inu dog and created as a parody of Bitcoin.

The project was launched in December 2013, technically inspired by Litecoin. The coin saw significant growth during its 2017 bull run, driven by the ICO craze, but it faced a slowdown in 2018.

Despite these hesitations and the humorous image, Dogecoin maintains a dedicated community heavily influenced by Elon Musk. The Tesla CEO supported Dogecoin as the expected payment method due to its low transaction costs. Each time the coin was mentioned on his account, the price increased.

The Dogecoin affair inspired other creators to develop cryptocurrencies with similar “dog” branding like Shiba Inu. Launched in 2020, the “Dogecoin killer” quickly grew to become the second largest coin, with a market capitalization of approximately $6.5 billion, making it the 14th largest crypto -currency in total.

During the 2021 bull run, memecoins kept pace with traditional cryptocurrencies and also showed an increase in price and capitalization. This sparked many new meme projects. Thanks to the promotion of communities on social networks, the tokens quickly gained popularity.

The price escalation mode of meme coins, based on community and celebrity support, continues to move assets to the top. Dogecoin, for example, gained media attention when Elon Musk briefly replaced the X logo with the Dogecoin mascot. Guess what happened to the room next?

The KITTY meme coin, named after streamer Keith Gill known as Roaring Kitty, soared in value more than 100 times after Gill made his first appearance on social media in three years. Gill’s X post was the first post on her account since June 2021 and garnered over eight million views in a matter of hours.

What sets memecoins apart?

So, what distinguishes meme cryptocurrencies from others, let’s summarize and highlight the main features:

1. Community and cultural movement: Memecoins are often inspired by Internet memes and are known for their enthusiastic and active online communities. These communities play a crucial role in promoting and introducing the coins, and even increasing their market value.

2. High volatility and speculation. Due to their nature, community memecoins can experience extreme volatility. Their prices can skyrocket thanks to celebrity endorsements or viral Internet campaigns, but they can also collapse just as quickly. This makes it a high-risk investment.

3. Limited utility outside of commerce: Unlike more established cryptocurrencies, many memecoins have no intrinsic utility or broader application beyond their use as a speculative trading vehicle.

4. Influence of personalities: The value and popularity of meme coins can be heavily influenced by public figures and celebrities. For example, tokens such as Dogelon Mars and Floki Inu have benefited from associations with Elon Musk.

Risks and rewards of investing in memecoins

Investing in meme coins can be profitable but also extremely risky. The success of such investments largely depends on the timing of market entry and exit:

● Short-term speculation: Some traders attempt to capitalize on the volatility of meme coins by buying them at low prices and reselling them when values skyrocket on hype.

● Long-term investments: Long-term storage carries great risks, as many of these coins can lose their value or become completely useless over time.

Meme coins are very volatile and their price sometimes increases sharply, but it is often not for long. Traditionally, assets feel good in a bull market, when small investors are in principle favorably disposed towards crypto assets.

And given that the initial capitalization of memecoins, especially new coins, is relatively small, it can be “pumped” infinitely.

Notable Memecoins in the Market

FLOKI (Floki Inu)

The token joins the memecoin lineup, directly referencing the broader Dogecoin phenomenon and its most famous advocate, Elon Musk. This piece is named after her dog, Floki. It quickly became popular with investors looking for the next big memecoin after the success of Dogecoin.

Growing from memes, Floki has grown into a full Web3 company, expanding its reach into decentralized finance (DeFi), non-swappable tokens (NFTs), and most recently creating its Valhalla metaverse.

This breadth of application has earned it the nickname “popular cryptocurrency” among its supporters.

Bonk (BONK)

Bonk is the first “dog” memecoin created on Solana. Exactly half of the initial emission in the form of airdrop was transferred to the community of this ecosystem.

This was done to support the Solana ecosystem after the abrupt collapse of SOL. Indeed, the emergence of BONK has caused activity in the ecosystem: the release of new meme tokens, shares with hot coins, the creation of NFT collections, etc.

Over the past six months, the price of this cryptocurrency has increased by several thousand percent, largely due to the integration of the token into the Saga smartphone from developers Solana, the owners of which could benefit from free distribution BONK tokens.

dog hat (WIF)

Another Shiba Inu dog. The creators never claimed serious coin status and even insisted that the name of this cryptocurrency should always be written with a small letter. WIF became one of the top altcoins in terms of growth in March, with its price increasing by almost 400%.

The growth was largely facilitated by the addition of a token to the leading US brokerage platform Robinhood. The capitalization of the project is $2.7 billion (as of March 2024);

In late February, analytics platform Lokonchain reported on a trader who had made almost $1 million on WIF. In November 2023, he purchased 2.58 million WIF for $310 in the Solana cryptocurrency.

On February 27, the price of WIF rose to $0.57 and the value of the trader’s coins reached around $1.4 million. Thus, his return on investment in the WIF token was 4500%.

PEPE

Not united dogs 🙂 This memecoin is based on the popular internet meme “Pepe the Frog”. Like most memecoins, PEPE is primarily designed to entertain and express cultural trends.

Today on the largest crypto exchange Pepe is wearing a red cap, guess who this refers to? Tip: Starts at T and ends at the ramp. Therefore, Pepe’s price could potentially soar on the news, if suddenly Trump becomes President of the United States.

Conclusion

To summarize, we can say that memecoins are an integral part of the crypto market, a “positive” phenomenon. Yes, there is no serious concept or technology, but this risky asset undoubtedly contributes to the adoption of cryptocurrencies.

Fuente

Memecoins

Memecoins dominate major derivatives in terms of open interest | Flash News Detail

Published

5 months ago

1 August, 2024

TokenTalk Staff

Bitcoin Dominance May Have Peaked, Ethereum ETF Could Trigger Altcoin Momentum

Disclaimer

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Fuente

Memecoins

Have a profitable August with Shiba Inu and Mpeppe (MPEPE) Don’t miss the winnings

Published

5 months ago

1 August, 2024

TokenTalk Staff

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):

Visit Mpeppe (MPEPE)

Join us and become a member of the community:

https://t.me/mpeppecoin

https://x.com/mpeppecommunity?s=11&t=hQv3guBuxfglZI-0YOTGuQ

Fuente

Memecoins

Solana down 8% as its coins Dogwifhat, Billy and Neiro fall further

Published

5 months ago

1 August, 2024

TokenTalk Staff

Solana climbs 4% on the back of rising Meme Coins and Alts

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.

Fuente

Memecoins

Trader Says Bitcoin’s Path to $100,000 Is ‘Currently Programmed’, Updates Outlook on Memecoin That’s Up Over 18,000% YTD

Published

5 months ago

1 August, 2024

TokenTalk Staff

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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