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Memecoins

VanEck Launches MEMECOIN Index to Track Top Meme Tokens

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VanEck Launches MEMECOIN Index to Track Top Meme Tokens

VanEck Launches MEMECOIN Index to Track Top Meme Tokens

VanEck, a major asset management firm, has joined the memecoin frenzy by introducing a new index focused on this very popular category of tokens. The index, known as MarketVector’s Meme Coin Index and traded under the symbol MEMECOIN, tracks the performance of the six major meme tokens in the market. The largest holdings in this index include well-known coins like Dogecoin (DOGE), Shiba Inu (SHIB)And Pepe (PEPE). Other tokens such as dog hat (WIF), Floki Inu (FLOKI)And Bonk (BONK) are also part of the index.

MarketVector’s MEMECOIN Index saw a staggering increase of over 195% year over year. In comparison, Bitcoin (BTC) saw an increase of 123%. The memecoin market currently has a total market capitalization of $50.7 billion, according to at CoinMarketCap, and MarketVector’s index tracks $44.67 billion in meme coin value.

As meme coins continue to capture investor attention and gain market traction, the launch of VanEck’s MEMECOIN Index provides a new tool to track the performance of these unique digital assets.

Some believe the memecoin craze will persist due to the lower fees associated with Solana, a blockchain platform that allows users to make small bets with the potential for large profits. This contrasts with the previous bull market that saw high fees on the Ethereum network, particularly during the NFT trading boom.

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Memecoins

Crypto: the new generation Memecoin Borpa arrives in Stakeland!

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Crypto: the new generation Memecoin Borpa arrives in Stakeland!

In the ever-changing world of crypto, a new star has been born: BorpaToken ($BORPA). Featured on Stakeland, this next-generation memecoin promises to revolutionize the market with its playful and deflationary approach to finance.

The $BORPA crypto meme is coming to Stakeland!

Stakeland is an innovative social staking platform that strengthens the Memeland ecosystem and promotes growth of memecoins. By allowing users to stake $MEME and other cryptocurrencies, Stakeland provides a unique opportunity to earn tokens from promising new projects at minimal costs. With significant anti-bot measures to ensure fair distribution of $MEME rewards, Stakeland positions itself as a key player for investors looking to engage in the dynamic world of memecoins.

Landing on Stakeland, $BORPA will merge its speculative nature and cult appeal to generate even more interest from the crypto community. With its charming memes and innovative gameplay, BorpaToken will provide a unique and engaging experience to users.

The start of farming on Stakeland is scheduled for Wednesday, June 19, 2024! Marking the start of a new era for memecoin investors and enthusiasts. Participants are invited to bet their $MEME on Join the adventure and take advantage of the opportunities offered by $BORPA from day one.

Borpa continues to revolutionize the world of memecoins

BorpaToken is positioning itself as a strong bet on the future of memecoins, outpacing other crypto niches as the industry evolves from technology to culture. With 41% of the supply reserved for mining liquidity incentives spread across five chains, BorpaToken is poised to set new standards in the memecoin space.

The whitelist campaign has already generated considerable buzz, distributing 4,180 “golden tickets” with a $200 allocation to members and key partners to maximize attention around the launch. This approach ensures widespread engagement and gives everyone a fair chance to secure early investment opportunities in the $BORPA token. This winning strategy saw allocations reach $65 million! Well beyond the $220,000 the BorpaToken team hoped to raise from preferred holders. This almost 300% explosion shows the community’s confidence in $BORPA.

In conclusion, BorpaToken, $BORPA, is much more than just a memecoin; it is a promise of financial entertainment and potential gains in a market seeking freshness and innovation. With its imminent launch on Stakeland and its multiple blockchains, as well as the start of farming, $BORPA is ready to capture the imagination of investors and establish itself as a major player in the crypto scene in 2024.

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Editorial C.

The Cointribune editorial team unites its voices to discuss topics related to cryptocurrencies, investing, the metaverse and NFTs, while striving to best answer your questions.

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Cointribune endeavors to provide its readers with all relevant information available, but cannot guarantee its accuracy or completeness. Readers are urged to make their own inquiries before taking any action regarding the Company and to take full responsibility for their decisions. This article does not constitute investment advice or an offer or invitation to purchase any products or services.

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Memecoins

BOME and Meme Coin Offer Reverse Entry with Breakout Chances

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As overall market conditions are more volatile than ever, the bullish trend of meme coins is taking a hit. However, low-cap meme coins like BOME and MEME show a possibility of recovery from crucial support.

With the rally momentum and breakout chances, will these even low-cap meme coins lead to a bull run next week?

BOME reversal to $0.00882

With a morning star pattern at $0.0082, the BOME price trend presents a positive cycle chance in the daily chart. The Book of MEME coin showed a 5.42% price rise last night at the crucial support level.

Trading View

Additionally, the daily BOME price chart shows a downward trend, forming a resistance trendline. This bearish phase forms a descending triangle pattern, keeping the bullish growth in check.

Currently, the meme coin is trading at a price of $0.0087 with an intraday decline of 1.55%, reflecting intraday weakness. However, the daily RSI line shows bullish divergence during the recent declines at $0.0082.

With some optimism, a reversal rally can reach the overhead resistance trendline by surpassing the $0.010 mark. A trendline breakout rally can reach the $0.0188 mark.

MEME Coin Price Breakout Rally Eyes $0.025

With a downtrend in motion, MEME coin price action is showing a falling wedge in the daily chart. The falling wedge trend is observed in several altcoins under current market conditions, suggesting a pullback phase. However, the recent overnight jump hints at a positive cycle within the trend.

Trading View

Currently, MEME price is trading at $0.01943 with an intraday decline of 1.86%, following last night’s 7.58% jump. The overnight jump formed a morning star pattern at the crucial support trendline, revealing strong chances of a reversal.

Considering the reversal momentum, the meme coin price may challenge the overhead trendline near $0.025. Additionally, a bullish rally can cause prices to rise to the psychological mark of $0.050.

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Memecoins

DEGEN ranks #2 in Memecoin metrics despite notable drop in value » The Merkle News

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DEGEN ranks #2 in Memecoin metrics despite notable drop in value » The Merkle News

DEGEN recently achieved an impressive ranking, securing second place in various on-chain metrics for memecoins.

This includes the number of traders and the number of transactions, placing DEGEN just behind the popular Dogecoin (DOGE). This is particularly notable given that DEGEN’s market capitalization is only 0.79% of that of Dogecoin.

Despite this success, DEGEN experienced a significant drop in value. Over the past 24 hours, its value has fallen by 11%, contributing to a total drop of 27% over the past seven days.

On-chain data reveals that Whale 0x7be offloaded all 40.21 million DEGEN tokens, worth approximately $429,000, in exchange for 122.8 ETH at an average price of $0.01092 per token.

DEGEN Whale posts notable loss after sale

Interestingly, this whale initially acquired the DEGEN tokens with 300 ETH, valued at $891,000, at an average price of $0.0222 each on April 14, 2024.

This recent sale resulted in a substantial loss for the whale. After selling the tokens, the whale recorded a loss of 177.2 ETH, which equates to approximately $639,000, a four-month decline of 59.1%.

Fluctuations in DEGEN’s value highlight the volatility inherent in the memecoin market, even though the token generates significant trading activity and trading volumes.

Disclosure: This is not trading or investment advice. Always do your research before purchasing any cryptocurrency or investing in any service.

Follow us on twitter @themerklehash to stay up to date with the latest news on Crypto, NFT, AI, Cybersecurity and Metaverse!

Image source: jtdee23/123RF // Image effects by Colorcinch



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The end of Memecoin euphoria, room for solid projects

TokenTalk Staff

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The end of Memecoin euphoria, room for solid projects

Tue June 18, 2024 ▪ 3 min reading ▪ by Fenelon L.

The crypto market is experiencing a significant correction, with a particularly pronounced decline for memecoins. As investors look to stronger assets, are we seeing a paradigm shift in the sector?

The Memecoin debacle

THE crypto market recorded a 3% decline over the past 12 hours, with total capitalization hitting its monthly low of $2.48 trillion. However, memecoins suffered the most, with double-digit losses for most of them.

Kyle Chassé, Bitcoin pioneer, Underlines on X the speed at which investors turn away from these speculative assets. He calls this movement a “flight to quality,” where traders now favor crypto assets with a clear function or purpose.

According to CoinGecko, the market capitalization of memecoins fell by 14%, to $48.8 billion. The MAGA TRUMP coin was hit the hardest with a 34% drop, while others like dogwifhat, Brett and Book of Meme also saw losses of over 14%.

Even industry leaders like Dogecoin, Shiba Inu, and Pepe were not spared. Only the Runes-based token DOG-GO-TO-THE-MON has managed to stay in the green over the past seven days.

A widespread correction

While memecoins are the most affected, the decline affects the entire altcoin market. Solana lost 7%, falling to $132, while Cardano fell 7.8% to $0.37.

Other assets like Avalanche (AVAX), Uniswap (UNI), Internet Computer (ICP), and Near Protocol (NEAR) also suffered. Bitcoin, meanwhile, has found support around $65,000 but remains stuck in a sideways channel for three and a half months.

This generalized correction at this stage calls into question the idea of ​​a “flight towards quality”. Nonetheless, the steeper decline in memecoins could be a sign of a change in mindset among investors.

After a period of speculative euphoria, the market seems to be maturing and looking for projects offering real added value. Only time will tell if this trend continues or if the appetite for risk will take over.

The memecoin debacle could mark a turning point for the crypto industry. While investors seem to favor more solid assets, it remains to be seen whether this “flight to quality” will be confirmed over time.

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Fenelon L. avatarFenelon L. avatar

Fenelon L.

Passionate about Bitcoin, I like to explore the intricacies of blockchain and cryptos and I share my discoveries with the community. My dream is to live in a world where privacy and financial freedom are guaranteed for everyone, and I firmly believe that Bitcoin is the tool that can make this possible.

DISCLAIMER

The views, thoughts and opinions expressed in this article belong solely to the author and should not be considered investment advice. Do your own research before making any investment decisions.



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