Memecoins

Why Memecoins, while not serious in nature, seriously illustrate Web3’s core value proposition

Published

6 months ago

20 May, 2024

Why Memecoins, while not serious in nature, seriously illustrate Web3's core value proposition

Memecoins are a great example of how any collective group of individuals can create the economic infrastructure necessary to facilitate commerce and collaboration without the need for an intermediary.

If you’ve been following the world of digital assets and Web3 even marginally, you’ve probably come across a high-profile rags-to-riches story.

They take more or less the same format: an individual wins a life-changing sum of money by investing in a token built around a viral internet cartoon sensation or more eloquently named, meme. If you haven’t yet discovered one of these stories, rest assured that you have read the previous sentence correctly. There are many stories of people buying these assets, often called “memecoins,” and getting 2x, 5x, or even 50-100x returns within a few days.

The most famous is Elon Musk’s favorite cryptocurrency, Dogecoin, a former memecoin by crypto standards, rose from the ashes and rose to prominence in late 2021. This happened when Musk, who was the richest person in the world at the time, publicly endorsed the asset in a series of tweets. Lo and behold, Dogecoin and its associated meme broke the internet.

Even though the vast majority of people who fall into this type of wealth do so unintentionally or through prudent investments, there is something to be said for the power of the individual and the communities to which they belong. This is something that has been demonstrated time and time again to the highest degree in this industry.

Sophisticated financial “experts” and “gurus” are rightly quick to question the underlying intrinsic value of these tokens. Typically, this skepticism questions their value from a technological perspective, which is normally a good place to start. Low barriers to entry, undefined regulatory frameworks, and easy-to-use infrastructure make creating one of these tokens quite easy. Investors have been burned in the past, so they are wary of scams and sweepstakes. However, to the contrary, I argue that to fully understand the value proposition of the memecoin asset class, one must truly understand the principles of money and how society assigns value to anything.

“But they’re just cartoons!” They have no value and are of no use. »

Before we go any further, it is important for me to reiterate that anyone considering investing in digital assets should only do so after completing a sufficient amount of due diligence and research. Most people think it begins and ends with the actual investment in question, but I would go so far as to say that in today’s times it is imperative that all investors have a sufficient understanding of money and the system modern financial.

I say this for two main reasons. First, to fully understand Bitcoin (or any crypto value proposition), an individual must understand the key benefits of decentralization. To do this, we must understand the pitfalls of our current monetary system. In the United States, we face hyperinflation and a currency that is continually printed in irrelevant ways to fulfill America’s great promises. Ultimately, this makes the dollar worthless, which is a major problem since it is widely used as a store of value.

The second reason people need to understand the current system is that much of the criticism that memecoins and cryptocurrencies face also applies to many fiat monetary systems that exist today. Since the lowering of the gold standard in 1971, the U.S. dollar has been supported solely by the republic’s confidence in the government that the dollar is worth what it says it is. Sure, the United States has the most powerful armed forces in the world and American pride has helped the country become the global superpower it is today, but hyperinflation and growing political tensions have begun to take a toll. on the long-term sustainability of American growth.

All it takes is a few more cracks in America’s seemingly impenetrable armor before we, as citizens, begin to ask ourselves the same question: what really gives the dollar its value. On the contrary, one could argue that the US dollar is the world’s largest memecoin, built on the imagery of the nation’s founding fathers and their founding principles.

Power to the people!

Following the SEC’s approval of the highly anticipated Bitcoin Spot ETF, we have seen unprecedented inflows into digital assets. Demand continued to exceed the natural supply of the network. Thanks to higher valuations, we have seen various ecosystems benefit, with investors shifting their profits to thriving utility-led ecosystems and ultimately to memecoin projects.

Most notably, we have seen a proliferation of memecoins in the Ethereum and Solana ecosystems. Shiba Inu and Pepe are mature and well-respected memecoins in the more proven Ethereum ecosystem, while many Solana memecoins have risen to prominence in recent weeks.

Two reasons for this are Solana’s vibrant retail community and the network’s low transaction costs. Bonk started the party but we saw many others like Dogwifhat, Myro and many more. The Dogwifhat community amazingly came together and raised over $600,000 for advertising space on the Las Vegas Sphere – proof that what might have started as an inside joke will now go commercial in 2024!

Why Memecoins are an integral part of Web3 adoption

Memecoins, at the very least, are easy to understand for crypto newbies. This is potentially the most important aspect of them. The narrative behind several memecoin projects lies in the power of the community behind said meme.

To create the world we live in today, it was necessary for nation states to establish a formal government whose sole purpose was to maintain the integrity of such a polity. As we have seen over time, this system requires unfailing trust, given that the financial livelihood of citizens is at the mercy of the said government.

Additionally, with many governments around the world operating with limited transparency, growing tensions across the globe have begun to affect citizen confidence, which undoubtedly puts a strain on any financial regime.

Memecoins are completely at odds with this outdated configuration. Rather, memecoins and Web3 technologies in general allow users to interact with both people and money without having to trust any person or entity.

To fail to understand the value of this is to fail to fully understand cryptography and decentralization.

Fuente

Memecoins

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

Published

4 months ago

1 August, 2024

TokenTalk Staff

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

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Fuente

Memecoins

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

Published

4 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

4 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

4 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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