Memecoins
New Memecoin $IQ Hits $5 Million Market Cap in 1 Day, Plunges Following ‘Shilling’ Allegations
KEY POINTS
- Svanevik said he was testing makenowmeme, but warned investors not to “mimic” the token
- $IQ hit $5 million market cap a day after launch before plunging to $1 million
- Some cryptocurrency users said Svanevik was “promoting” the token
A new memecoin based on the Solana blockchain is generating a lot of interest within the cryptocurrency community after the token reached a market cap of $5 million in just one day after its launch.
Cryptocurrency analyst launches $IQ
Alex Svanevik, the founder of Nansen, which provides real-time data and insights to cryptocurrency, decentralized finance (DeFi) and NFT investors, launched $IQ on Wednesday, saying he was “testing a technology that a friend built.” He was referring to the memecoin Launchpad do now evenwhich “allows anyone to launch a meme coin directly from a tweet on X.”
IQ hits $5 million
The token saw its market value According to data from DEXScreener, Bitcoin hit $5 million a day after its launch. As the memecoin’s market cap has grown, Svanevik said it appears “smart money likes IQ.”
Some cryptocurrency users on X shared their thoughts on the token, with one saying that the new memecoin “must succeed“because if it doesn’t, Svanevik’s trust will be greatly reduced.”
One user said it appears the makenowmeme is “not very different” from the “pump and dump” activity on memecoin factory pump.fun.
Svanevik warned memecoin investors when he first posted about $IQ not to “mimic” the new token, a term used by cryptocurrency users when investors quickly buy cryptocurrencies without first learning about or researching them.
I’m testing some tech a friend built! don’t copy this thing, dammit 🙈
–Alex Svanevik 🐧 (@ASvanevik) July 31, 2024
Pump and dump
The token has since fallen, according to data from Terminal Gecko Memecoin now has a market cap of around $1 million and has dropped around 48% in the last six hours. Memecoin is still up over 1,000% in the last 24 hours. Memecoin investors continue to buy the token, but many are also selling it.
The price of IQ has dropped more than 40% in the last six hours. Terminal Gecko
Was Svanevik a ‘shilling’?
Some cryptocurrency users have accused Svanevik of “selling” his new memecoin, which is promoting a digital asset to artificially increase its price. “Selling” typically involves market manipulation and also the use of misleading or outright false information to encourage investors to buy.
Alex my friend, I still don’t see any social networks on dexscreener, I don’t see any CMC or CG. You better do shitcoining!
— VikingXBT (@VikingXBT) July 31, 2024
One user even went so far as to claim that the cryptocurrency developer minted 1 billion $IQ tokens before transferring 60% of the supply along with Solana ($SOL) tokens “to dozens of wallets.” He advised other crypto investors to “be careful.”
Svanevik has yet to respond to the allegations.
The risks of the Solana memecoin
Blockchain journalist Yohan Yun wrote about the risks of “aping” in Solana-based memecoins. He said investors should be wary that “memecoins are often created by the same people who invest in them — immature degenerates who have no idea what they’re doing.”
He then warned that most memecoins have no utility and are “just sentimental.”
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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