Pepe (PEPE) has been one of the best-performing crypto assets since the beginning of the year, with a year-to-date (YTD) gain of over 400%. This crypto analyst predicts that PEPE can continue this impressive run and become the largest meme coin by market cap, ahead of Dogecoin and Shiba Inu. PEPE To Flip Dogecoin (DOGE) And […]
The Wild West of cryptocurrency just got a little wilder. Solana, the blockchain known for its lightning-fast transactions, recently became a breeding ground for a peculiar phenomenon: the meme coin frenzy. While these dog-themed, cat-inspired, or just plain nonsensical tokens promised moon landings, many investors landed face-first in a crater of lost cash. Related Reading: Bitcoin Miners Strike Gold: $107 Million Profit From Runes-Fueled Minting Spree Solana Stampede: A Frenzy Of Frivolous Finance Fueled by social media hype and the fear of missing out (FOMO), a stampede of investors poured money into meme coin presales. A project with a name like “I Like This Coin” (LIKE) sprouted like weeds, promising outlandish returns. The “I Like This Coin” story, however, turned out to be a classic case of “buyer beware.” Despite an initial market cap of a staggering $577 million, the token’s value plummeted by a disastrous 90% within a mere eight hours of launch. The party didn’t stop there. Blockchain investigator ZachXBT uncovered a particularly galling trend: a dozen meme coin projects vanished into thin air after their presales, taking a combined $26.7 million from investors with them. Only 1 month has passed and 12 of the Solana presale meme coins have been completely abandoned after raising >180,650 SOL ($26.7M). Would avoid any future projects launched by these founders. https://t.co/J0zFldRIa6 pic.twitter.com/K610MAEPMn — ZachXBT (@zachxbt) April 21, 2024 Solana Slowdown: When Meme Mania Clogs The Network The meme coin craze wasn’t without collateral damage. The massive influx of transactions clogged the Solana network, leading to transaction failures and frustrating delays. This highlighted a fundamental issue with meme coins: they often lack real-world applications and contribute little to the underlying blockchain’s development. Solana’s founder, Anatoly Yakovenko, wasn’t shy about expressing his skepticism. He questioned the very concept of meme coin presales, suggesting they were better suited for projects with strong tech foundations. Yakovenko’s comments resonated with many who saw the meme coin frenzy as a speculative bubble fueled by empty promises and social media hype. Solana is currently trading at $155.69. Chart: TradingView Meme Coin Meltdown: A Cautionary Tale For Crypto Curious Investors The rise and fall of Solana’s meme coins serves as a stark reminder of the inherent risks associated with investing in unregulated, highly speculative assets. While the allure of quick riches might be tempting, the potential for scams and rug pulls (where developers abandon a project after raising funds) is significant. Related Reading: Is The Bitcoin Bloodbath Over? Analysts Say $60,000 Is The Cycle’s Bottom The fallout from the meme coin frenzy could have lasting repercussions. Regulatory bodies might take a closer look at this corner of the crypto world, potentially leading to stricter measures to protect investors. For those interested in exploring the exciting world of cryptocurrency, the lesson is clear: conduct thorough research, prioritize projects with real-world use cases, and always remember what the sages mean when they say if it sounds too good to be true… Featured image from Pexels, chart from TradingView
The post Pepe Struggling to Break Above Resistance, Will Bears Let a Price Rise Above $0.000008? appeared first on Coinpedia Fintech News
As the Bitcoin price rebounded from the lows close to $60,000, the markets appear to have gained significant momentum. The Pepe price has led the memecoins by marking 3 consecutive bullish signals after a tough fight between the bulls and the bears. Now that the price has triggered a bullish upswing, it is interesting to …
The Shiba Inu community is being targeted by another string of scam attacks aimed at profiting from unsuspecting members. As a result, the Shibaarmy Scam Alert, an X (formerly Twitter) social media handle dedicated to exposing scams, has issued a crucial warning to the entire SHIB community. Related Reading: Decoded: Why Everyone’s Suddenly Googling ‘Bitcoin […]
The post Bitcoin’s Memecoin – PUPS Rises As A New Contender In The Meme Coin Arena appeared first on Coinpedia Fintech News
Happy Bitcoin halving day! The fourth Bitcoin halving has affected altcoins, pushing them to a similar surge and gathering interest from investors worldwide. This year, the meme coin segment has witnessed a surge in activity, with established players like Dogecoin and Shiba Inu commanding attention alongside emerging contenders like PEPE and dogwifhat. However, who would …
The post Analysing DogeDay’s Influence on the Price Dynamics of DogeCoin: In-Depth appeared first on Coinpedia Fintech News
DogeDay is almost here, and everyone’s buzzing about it. People think it could really shake up the price of DogeCoin. Right now, we are seeing Dogecoin’s value go up in what is called a rally. Let’s take a closer look at how DogeDay might affect Dogecoin’s price, considering how the market reacted in past years. …
The post Dogecoin’s Evolution and the Emergence of DogeDay: What You Should Know appeared first on Coinpedia Fintech News
Dogecoin is a hot topic in the world of cryptocurrency right now. It is not just a fluke; there is a reason it is getting so much attention. A big part of this buzz is thanks to something called DogeDay, a special event celebrated by the Doge community. But before we dive into DogeDay, let’s …
The post Shiba Inu Consolidates Within A Crucial Pattern Amid Declining Open Interest: Will Bulls Achieve A Breakout? appeared first on Coinpedia Fintech News
Amid Bitcoin’s recent surge to an all-time high of $73,600 in March, the meme coin market emerged as the most lucrative sector in the market, giving average returns exceeding 1,300% among the top tokens by market capitalization. However, with Bitcoin’s price retreating to the $60,000 level, traders are now setting their sights on potential gains …
The post Powered by The GOAT Foundation and Fantom Blockchain, Speedy Dog Is Set to Rule the Crypto Meme Space appeared first on Coinpedia Fintech News
Since creating the first meme coin in 2013 as a ‘joke’ to drive up the hype around mainstream crypto assets like Bitcoin, meme coins have experienced massive growth in the crypto market. With a market capitalization of over $47 billion, these meme coins have become an enormous part of the crypto industry as the communities …
The cryptocurrency market tends to thrive on a blend of innovation, utility, and sometimes, just a good meme. This week, the spotlight shone brightly on Dogecoin (DOGE), the Shiba Inu-themed meme coin, after a characteristically playful tweet from tech billionaire Elon Musk sent prices soaring. Related Reading: Ethereum Fire Sale? Deep-Pocketed Investor Snags Nearly 24,000 ETH At Bargain Price While the tweet itself referenced a scene from Monty Python and didn’t directly mention Dogecoin, its timing, with DOGE hovering near the cusp of the top 10 cryptocurrencies by market cap, proved to be enough to ignite a firestorm of trading activity. This latest episode serves as a stark reminder of the immense influence Musk wields over the meme coin market, and the hair-trigger reflexes of Dogecoin’s dedicated community. pic.twitter.com/wXlbpNU97H — Elon Musk (@elonmusk) April 15, 2024 Dogecoin Rollercoaster Ride Continues This isn’t the first time Musk has sent shockwaves through the Dogecoin world. In 2021, his enthusiastic endorsements, including a now-famous appearance on Saturday Night Live where he jokingly referred to himself as the “Dogefather,” propelled DOGE to its all-time high. However, the meme coin’s meteoric rise proved unsustainable, and prices eventually settled into a lower, but still respectable, position. Bitcoin is now trading at $62.611. Chart: TradingView Currently, Dogecoin sits comfortably as the eighth-largest cryptocurrency, boasting a market cap of over $22 billion. However, there was a different narrative in the price department. At the time of writing, DOGE was trading at $0.15, down 8.4% and 22.9% in the daily and weekly timeframes, data from Coingecko shows. Clearly, the Musk tweet magic didn’t work this time. Or, perhaps not yet? DOGE 24-hour price action. Source: Coingecko A quick look at DOGE’s daily chart reveals a classic case of price resistance, where the coin struggles to break through specific price ceilings. This back-and-forth price action reflects the ongoing battle between enthusiastic buyers, emboldened by figures like Musk, and more cautious investors wary of the coin’s unpredictable nature. Related Reading: Bitcoin Bonanza Before The Halving? Analyst Sees Pre-Crash Buying Window No Price Boost This Time Elon Musk’s tweets have long been synonymous with skyrocketing memecoin values, yet today’s unexpected downturn in Dogecoin following his latest post underscores the volatile and unpredictable terrain of cryptocurrency markets. This stark deviation from the usual trajectory serves as a poignant reminder that even the most influential voices in the industry cannot fully control or anticipate the market’s whims and fluctuations. It highlights the inherent risks and complexities investors face as they navigate this ever-evolving landscape, where sentiments can shift swiftly, leaving even seasoned traders reeling from the abrupt changes. Featured image from Pexels, chart from TradingView
Solana's development team has rolled out an update to help ease the network's recent congestion issues.
The post Solana rolls out update to ease network congestion appeared first on Crypto Briefing.
The meme coins sector of the crypto market is taking a big hit amidst a wider price decline in the industry. Recent lackluster price action has seen most cryptocurrencies struggling to maintain bullish price action for the majority of last week. This price decline has now been exacerbated with the latest escalation of tensions in […]
Amid the renewed strength recently displayed by Bitcoin, Michael Van De Poppe, a recognized cryptocurrency analyst and trader has offered an intriguing prediction for BTC, highlighting that the crypto asset is likely to reach the $300,000 threshold in this bull cycle. Bitcoin Price Targetted At Unprecedented Heights This Cycle Over the past month, the price of Bitcoin has been consolidating and hasn’t been able to sustain its rise beyond its new peak of $73,000. However, things could soon be changing, as Michael Van De Poppe expects the coin to surge immensely in the short term. His forecast coincides with anticipation around the upcoming Bitcoin Halving expected to take place in less than 12 days, fueling optimism within the crypto community. Related Reading: 12 Days Until Bitcoin Halving: Why $100,000 Isn’t Much Further Away According to the expert, the largest cryptocurrency asset by market cap is still experiencing significant resistance. Nonetheless, if Bitcoin manages to break out of this zone, the coin could witness a progression towards new all-time highs in the coming months. Given that BTC achieved the $70,000 price level ahead of the halving event, Poppe believes that it is likely to surge to unprecedented levels, particularly topping out at $300,000 in this bull run. The post read: Bitcoin still facing crucial resistance. If this breaks, then we will be seeing a continuation towards new all-time highs. Bitcoin at $70,000 pre-halving. Likely $300,000 this cycle. Poppe underscored that the price of Bitcoin returned to $70,000 level over the weekend. As a result, he has pointed out bullish indicators that are presently occurring in the crypto landscape. The analyst also noted that the strength of the cryptocurrency markets has now exceeded our perceptions, and dips in altcoins represent opportunities for good entries. In addition, BTC’s price action demonstrates the potential to reach a new all-time high pre-halving, and the shift in favor of altcoins is on the horizon. Altcoin Season Set To Kick Off In Weeks Poppe is super bullish toward an ‘altcoin season’. However, it is important to note that altcoins’ value has frequently coincided with shifts in Bitcoin’s supremacy. But even though Bitcoin’s dominance is still at its peak prior to the halving, Poppe thinks these coins still have a lot of momentum. Related Reading: Forget Bitcoin! Altcoins Set For Explosive Growth With Potential 1,000x Returns — Analyst He advocates that a new altcoin season will undoubtedly begin in the upcoming weeks. “We always have one, we have seen Meme coins, Solana (SOL) ecosystem, and AI,” he stated. The expert’s statement suggests that the Solana ecosystem, AI projects, and meme coins in recent months have led the altcoin market. Thus, Michael Van De Poppe has contended that in the impending alt season, crypto initiatives that prioritize the tokenization of Real-World Assets (RWA), the Ethereum (ETH) ecosystem, and the Decentralized Physical Infrastructure Network (DePIN) are likely to be next, paving the way for alts this cycle. At the time of writing, the altcoin’s overall market excluding Bitcoin and Ethereum was valued at $753.47 billion. This indicates a 2% increase in the market cap in the past 24 hours. Featured image from iStock, chart from Tradingview.com
Panelists at a BUIDL Asia summit said racist meme coins can be handled with a light touch.
The $WIF token briefly touched the $4 level yesterday.
Maartje Bus, Vice President of Research at Messari, a prominent crypto market intelligence company, has declared meme coins as the Trojan Horse of the cryptocurrency space. She has highlighted their potential to foster massive adoption and increase engagement within the cryptocurrency space. Why Meme Coins Are Crypto’s Trojan Horse For Adoption Speaking at BUIDL Asia, a global developer community in Seoul, South Korea, on Thursday, March 28, Bus gave a presentation on the emerging trends in crypto in 2024. The Messari crypto executive had primarily focused on the impact and potential benefits of meme coins in driving adoption within the crypto space. Related Reading: Fifth Largest Bitcoin Whale Moves $6 Billion In BTC, Here’s The Destination According to Bus, meme coins have become an integral part of the crypto market and are evolving towards potentially establishing themselves as a distinct asset class. The Messari executive has described these humor themed coins as a “Trojan horse” which could potentially facilitate the entry of new users into the realm of cryptocurrency, effectively boosting adoption. During her speech, Bus disclosed that the introduction of these coins has successfully attracted the attention of both crypto and non-crypto enthusiasts. This is seen in the cryptocurrency’s ability to capture the attention of investors, utilizing its meme-based marketing strategies to fuel engagement while also providing opportunities for massive profitability due to its speculative nature. Bus believes that meme coins could be likened to a long tail speculative service like lottery tickets which attract investors seeking high risk, high reward opportunities. Additionally, owing to their relatively low price value, they cater to individuals across various income brackets, who are willing to take speculative bets in the hopes of securing significant returns. Moreover, according to the Messari executive, meme coins serve as a gateway for newcomers to the Web3 space, exposing them to fundamental crypto concepts like decentralization. The Growing Allure In Crypto Space Lately, the rise in interest in meme coins has been growing at an exceptional rate, attracting both investors and traders from all over the world. This surge in interest has propelled meme coins in the spotlight, pushing their prices to unprecedented highs. Related Reading: The Road To $100,000: Bitcoin Whale Accumulation Explodes Unlike traditional cryptocurrencies, which are backed by underlying projects and practical use cases, meme coins derive their value largely from their community and speculative appeal. Additionally, these cryptocurrencies offer a more approachable entry point into the realm of crypto investments, utilizing their affordability and susceptibility to social media trends and user sentiments to attract seasoned investors and newcomers alike. Total market cap at $2.5 trillion | Source: Crypto Total Market Cap on Tradingview.com Featured image from Finbold, chart from Tradingview.com
The development team behind the dog-themed meme coin Floki Inu has unveiled its highly anticipated roadmap for 2024, revealing several upcoming features and utility-focused initiatives. Notable highlights include the launch of regulated digital banking accounts, integration with the Venus decentralized finance (DeFi) protocol, the Floki debit card’s introduction, and the Valhalla mainnet’s upcoming release. Floki Inu Aims To ‘Bank The Unbanked’ Floki Inu plans to introduce regulated digital banking accounts, enabling users to create and fund bank accounts using FLOKI tokens. Related Reading: Fantom (FTM) Jumps 180% In 4 Weeks: Just The Beginning? In partnership with an unnamed licensed fintech company operating in key jurisdictions such as Canada, Spain, Dominica, Australia, and the UAE, these accounts will support SWIFT payments and SEPA IBANs. In addition, the upcoming launch of Floki Debit Cards will allow users to link their digital bank accounts to debit cards, providing a convenient and secure way to spend their FLOKI tokens in traditional currencies such as Euro (EUR) and US dollars (USD). According to the proposal, the initiative aims to “bank the unbanked” by enabling a broader user base to access traditional banking services using their FLOKI tokens while increasing the utility and adoption of cryptocurrency. Pending governance approval, Floki Inu also seeks to list its native token, FLOKI, on the Venus Core Pool. This integration aims to unlock deeper liquidity, comparable to established blue-chip cryptocurrencies and allow FLOKI holders to use their tokens as collateral to borrow various assets such as Maker (DAI), Circle’s USDC stablecoin, Binance Coin (BNB) and Ethereum (ETH). By integrating Venus Markets directly into Floki’s user interface (UI), the protocol states that users will have frictionless access to the liquidity provided by the platform, further integrating Floki into the decentralized finance ecosystem. FLOKI-Powered Trading Bot And Valhalla Mainnet Launch Floki Inu plans to introduce a cross-chain Telegram and Discord trading bot powered by the FLOKI token. This bot will allow users to buy and sell cryptocurrencies on leading blockchain networks. Specifically, 50% of the fees generated will be used to buy and burn FLOKI tokens, increasing their utility and contributing to a deflationary mechanism. Finally, the highly anticipated mainnet release of Valhalla, Floki Inu’s flagship utility and metaverse game, will occur. Valhalla on the Mainnet will feature on-chain game mechanics, a PlayToEarn economy, upgradeable NFTs, and an open-world experience. Related Reading: Bitcoin Spot ETFs See 4 Consecutive Days Of Outflows, Here’s What Happened Last Time As of this writing, the FLOKI token has experienced a correction of over 17% in the past seven days, aligning with the overall market trend. This correction has resulted in the current trading price of $0.0002295 for the FLOKI token. Despite the recent downtrend, it is worth noting that FLOKI has still achieved a remarkable year-to-date gain of 440%. This substantial increase in value has propelled the token’s market capitalization to $2 billion, solidifying its position at the 59th spot among the top 100 cryptocurrencies in the market. Featured image from Shutterstock, chart from TradingView.com
Coinbase Derivatives filed for approval of a Dogecoin futures product amid rising interest in memecoin trading.
In an exclusive interview with CoinDesk, Solana co-founder Anatoly Yakovenko weighs in on the meme coin frenzy that has brought attention activity to the blockchain – along with complaints that transactions aren't going through.
The post Crypto Market Bleeds While Pepe Price Rally Continues: Will Memecoin Hold Markets Amid Deep Correction? appeared first on Coinpedia Fintech News
The crypto markets are trying to overcome the recent pullback after the Bitcoin price dropped below $62,000. Now that the price has soared above $62,800, the other altcoins have also begun with a significant upswing. In the meantime, a popular memecoin, Pepe, which has triggered the ‘Memecoin Mania’, has again led the top performers of …
After BOME's impressive success, see why users are eagerly placing their SOL in a subsequent pre-sale, involving wallet transfers.
Meme coin markets have boomed in tandem with the growth of addresses on their underlying blockchains.