A recent report has found that US President Donald Trump’s official memecoin, TRUMP, had a faster listing process on crypto exchanges than the average memecoin and generated millions of dollars in gains for the platforms. Related Reading: Fibonacci Maps Dogecoin Path To $23—Is It Too Far-Fetched? Crypto Exchanges Profit From TRUMP Memecoin On Monday, news agency Reuters shared an analysis of market data and industry announcements related to the listing of the official TRUMP memecoin on some of the biggest crypto exchanges by market share. In January, President Trump surprised the crypto industry after launching his official token ahead of the start of his presidency. The cryptocurrency quickly skyrocketed to its all-time high (ATH) of $75, yielding significant profits for many early investors. However, the memecoin faced heavy backlash from the community, with several investors calling the President’s crypto venture a “big red flag.” Notably, 80% of the cryptocurrency’s supply was held by the Trump family and their partners, raising concerns over “such a high concentration of ownership”, which can allow the team behind it to “sell large amounts of it at once, collapsing the price for retail investors,” Reuters noted. The report claims that exchanges have been “major beneficiaries of Trump’s embrace of the industry,” as TRUMP has generated millions of dollars in revenue for the 10 largest exchanges reviewed by Reuters. Based on standard fee estimates compiled for the analysis, the crypto platforms allegedly made more than $172 million in trading fees since the token’s listing. Additionally, the token has “favored a small group of investors,” with 45 crypto wallets making around $1.2 billion in profits over the past six months. Nonetheless, as the token trades at 87.1% below its ATH, 712,777 wallets accumulate a collective loss of $4.3 billion, according to Bubblemaps data. Presidential Token Saw Express Listing Process According to the report, the largest exchanges, including Binance, Gate.io, Bitget, MEXC, OKX, Coinbase, Bybit, Upbit, Crypto.com, and HTX, listed Trump’s token “with unusual speed” compared to other recent prominent memecoins, despite the industry’s concerns. Reuters’ analysis showed that eight of the 10 largest crypto exchanges listed TRUMP within the first 48 hours since its launch. Coinbase listed the memecoin three days later, while Upbit added the token nearly a month later, on February 13. Meanwhile, the same 10 exchanges took significantly more to list Pepe (PEPE), Bonk (BONK), Fartcoin (FARTCOIN), and dogwifhat (WIF), the four other largest memecoins launched since 2022. Per the report, all 10 exchanges listed PEPE and BONK, while nine listed WIF, and only seven listed FARTCOIN. For comparison, all 10 exchanges took an average of 129 days to list these tokens, but only took an average of four days to list the presidential memecoin. Bitget, MEXC, and Coinbase reportedly said they listed the token quickly to “respond to overwhelming demand for the $TRUMP coin.” Gracy Chen, Bitget’s CEO, explained in a statement that “the crypto space was buzzing with the hype and, as any other token with a growing craze, it was imperative to add TRUMP.” Related Reading: Bitcoin Ignites Intraday Optimism With A Step Past $119,000 Threshold Chen told Reuters that Bitget also had concerns about the 80% supply figure but said the fact that the upcoming US president announced the coin on his social media accounts “should kind of solve the compliance issue.” “Ultimately, user trading volume, demand … overrode the so-called risky factor here,” Bidget CEO concluded. As of this writing, TRUMP trades at $9.43, a 2.6% decline in the daily timeframe. Featured Image from Unsplash.com, Chart from TradingView.com
Amid its breakout, Solana memecoin Dogwifhat (WIF) eyes a reclaim of $1.50 and a continuation of its bullish rally. Some analysts suggest that new highs are bound to come if the token holds above a crucial level. Related Reading: Bitcoin Next Leg Up Loading? Analyst Says BTC Could Trade Sideways For Two Weeks Dogwifhat Reclaims $1.00 Over the past month, dogwifhat has seen a massive 190% surge, climbing back to the $1.00 barrier. The memecoin has been in a downtrend since hitting its Q4 2024 high of $4.19 in November, retracing over 92% in five months. After the TRUMP memecoin and LIBRA token controversial launches, the sector faced market exhaustion, with most memecoins struggling during the Q1 2025 retraces. As a result, WIF lost the $1.00 mark for the first time in a year. Amid last month’s pullbacks, dogwifhat hit a 14-month low of $0.32 before the crypto market recovery started, but jumped to the $0.60 support at the end of April. Since then, WIF has soared over 70%, reclaiming the key $1.00 resistance on Monday. This week, the memecoin has hovered between the $1.00-$1.20 price range after hitting a three-month high of $1.32 four days ago. Additionally, it retested the recently reclaimed level as support after bouncing from the $0.95 level on Thursday. Market watcher Rose Premium shared a technical outlook for the cryptocurrency, noting a bullish structure after its recent performance. The trader explained that dogwifhat shows “a classic bullish structure after rebounding from the Fibo Zone,” between the $0.95-$0.98 range. Based on this, WIF’s trend continuation is likely if the memecoin holds the $1.00 level as support. This could propel the token toward an initial target of $1.15, before reclaiming the $1.26 level and finally reclaiming the $1.37 mark. WIF Breakout Eyes $1.50 Trader Coinvo suggested that WIF’s “classic break and re-test pattern” is “guaranteed” to send the memecoin’s price in a parabolic rally. Similarly, analyst Carl Runefelt from The Moon Show affirmed that dogwifhat is “potentially ready to continue its rally to new highs.” Per the chart, WIF has been in a symmetrical triangle pattern over the past week, with price breaking out of the upper boundary after surging above the $1.05 level. According to the formation, the cryptocurrency targets $1.50 if the breakout is confirmed. This level has been a crucial horizontal level, serving as a key bounce area during the 2024 retraces, and could propel dogwifhat to higher targets if reclaimed. Related Reading: Avalanche (AVAX) Eyes 30% Rally Amid Cup-And-Handle Pattern Breakout Meanwhile, analyst The Cryptonomist highlighted a falling wedge pattern in WIF’s lower timeframe chart. The memecoin broke out of the 3-day pattern after today’s bounce, breaking out of the upper boundary after reclaiming the $1.03 mark. The analyst stated that WIF could target the $1.49 resistance area if it holds its current levels and the entire market “goes for another leg up from here.” As of this writing, dogwifhat trades at $0.14, a 1.8% increase in the daily timeframe. Featured Image from Unsplash.com, Chart from TradingView.com
A recent report revealed that over 50% of all crypto tokens have failed in the past five years, with a significant decrease in token survivability over the past year. Related Reading: Solana: Analysts Forecast Q3 ATH Rally As SOL Retests Make Or Break Level 50% Of Crypto Tokens Have Collapsed On Wednesday, CoinGecko published a report claiming that over half of the tokens registered in its Decentralized Exchange (DEX) tracker, GeckoTerminal, have died in the past five years. The study examined the total number of crypto tokens once listed in the DEX tracker with one trade or more before going defunct. Since 2021, nearly 7 million tokens have been listed in the real-time tracker, with 3.7 million cryptocurrencies no longer actively traded and considered to have failed. As a result, 52.7% of all examined crypto died, 86.5% failing between 2024 and early 2025. According to the report, 49.7% of all recorded project failures between July 2021 and March 2025 occurred in the first quarter of this year. By March 31, 1.8 million tokens had collapsed, representing the highest number of failures recorded in a single year. In 2024, nearly 1.4 million crypto projects failed, accounting for 37.7% of all collapses during the analyzed period. The number of failing projects has significantly increased from 0.5% in 2021 to 25% in 2025’s first three months. Nonetheless, CoinGecko noted that 2024 has the highest number of launches, seeing over 3 million new projects deployed in the crypto market. Since 2021, the total number of projects has skyrocketed by around 1,550%, going from 428,383 listed projects on GeckoTerminal to nearly 7 million crypto projects. Memecoin Frenzy Responsible For Most Failures? The massive increase in token launches was fueled by the launch of the Solana-based memecoin launchpad Pump.fun, which facilitated the deployment of tokens. The platform’s creation led to a “flood of meme coins and low-effort projects entering the market.” Notably, the start of this cycle’s memecoin frenzy saw the launch of hundreds of PolitiFi tokens, celebrity tokens, and scam tokens, with many reaching market capitalizations of hundreds of millions in record time. The report highlighted that crypto failures were in the low six digits before Pump.fun’s launch, with only 12.6% of all dead tokens between 2021 and 2023. By July 2024, reports revealed most celebrity memecoins had crashed over 90% since launch, with the majority essentially “dead.” Related Reading: Monero (XMR) Price Jumps 50% Amid ‘Suspicious’ $330 Million BTC Transfer – Details Amid the Q1 market retraces, most cryptocurrencies have seen a sharp price decline, with some of the strongest tokens retesting monthly and yearly lows. The recent nosedive in token survivability could be related to the market exhaustion and market turbulence, which coincided with the launch of the official TRUMP and MELANIA memecoins and the LIBRA token scandal. “This sharp decline in token survivability may be linked to broader market turbulence, particularly following Donald Trump’s inauguration in January 2025, which coincided with a downturn in the crypto market,” the report concluded. Featured Image from Unsplash.com, Chart from TradingView.com
Coinbase’s Layer-2 (L2) Network, Base, has faced intense backlash over rug-pull allegations after it promoted an unofficial memecoin that crashed by over 90%, sparking a debate about the future of memecoins and on-chain content. Related Reading: Aptos (APT) To Continue Moving In ‘No Man’s Land’ – Can It Reclaim $5? The Rise And Fall Of Base’s Unofficial Memecoin On Wednesday, Base’s official X account posted an image with the text “Base is for everyone.” Moments later, they shared a link to the on-chain social protocol Zora and the caption “Coined it,” sparking a speculative frenzy among investors. The protocol allows users to make social media posts into tradable tokens, automatically minting them. After Base’s post was turned into a token, the crypto community quickly skyrocketed its market capitalization to $17 million. However, online reports showed that the memecoin collapsed by around 92% after the top holders, who owned 47% of the supply, sold the memecoin just over an hour after launching. Some community members noted that the token was “HORRIFICALLY sniped,” while on-chain data analytics platform Lookonchain highlighted that “3 wallets bought a large amount of ‘Base is for everyone’ before Base posted and sold them, making a profit of ~$666K.” As a result, the community criticized the network’s team for the memecoin, calling the incident a rug pull and asking them to “stop launching worthless tokens that will all inevitably go to 0. You are diluting your brand and the value of real base assets.” Zora data shows Base has earned around $81,000 from the memecoin, which has recovered from the initial sell-off with a peak market capitalization of $26 million before retracing to the $9 million-$10 million range. Base’s Public Experiment Base responded to the backlash, clarifying they will never sell their holdings, but they weren’t an official network token either. The team explained that they posted on Zora because they believe everyone should bring content on-chain and use the tools that make it possible. Memes. Moments. Culture. If we want the future to be onchain, we have to be willing to experiment in public. That’s what we’re doing. To be clear, Base will never sell these tokens, and these are not official network tokens for Base, Coinbase, or any other related product. The content we share is creative, and we’re going to keep bringing culture onchain. The public on-chain experimentation opened a debate about memecoin culture and on-chain content, with Base’s creator, Jesse Pollak, weighing in. In a series of X posts, Pollak explained that “not all coins are the same,” outlining the differences between these two types of tokens. Is On-Chain Content The Future For Creators? According to his posts, a contentcoin is one piece of content with singular value and no expectations. Additionally, multiple of them can be created by the same person, with “big ones” potentially turning into memes. On the contrary, a memecoin is an “aggregation of content,” with aggregated value and high expectations, where the creator “should” only create one. He also noted that big ones turn into projects. Related Reading: Is The Storm Over For Ethereum? Analyst Says ‘Face-Melting’ Rally Comes Next Pollack considers that “someone has to normalize putting all of our content onchain. and i’m not afraid for it to be us. why? because in the wake of the chaos, we’ll normalize the behavior and create a better future for creators.” Nonetheless, many users remain skeptical, with community members also criticizing Base’s post announcing investors can mint a deleted scene of the “Vitalik: An Ethereum Story” documentary, where the project’s founder, Vitalik Buterin, shows what’s in his backpack. “Through ‘the financialization of everything’ we come to learn that most things are worthless,” the user stated. Featured Image from Unsplash.com, Chart from TradingView.com
Amid the market correction, Solana (SOL) has reclaimed the $100 mark after dropping below this crucial support for the first time in over a year. However, some analysts consider a 15% bounce toward a key historical support is necessary to target higher levels. Related Reading: Bitcoin Headed To $69,000? Analyst Says BTC’s Short-Term Future Hangs On These Levels Is Solana Bull Run Over? Solana hit a 14-month low on Monday after falling 20% in 24 hours, momentarily trading around the $95 mark for the first time since February 2024. After the correction, SOL bounced around 18% to $112 before retracing toward the $100-$110 price range. Fueled by the market’s memecoin frenzy, the altcoin was one of the leading cryptocurrencies last year, hitting an all-time high (ATH) of $270 on January 19. Since then, the cryptocurrency has dropped over 63% from the start-of-year highs. During the Q1 retraces, Solana retested the $120 support zone several times, bouncing from the range, which served as a crucial level during the 2021 and 2024 rallies. However, several analysts pointed out that the support weakened with each retest, and losing that level could see Solana fall under the $100 mark and risk a 50% drop to the $60 support zone. After dropping below the key barrier, trader Crypto Bullet highlighted that SOL’s recent price action broke below August 5 lows, which signals that the cryptocurrency’s bull market could be over. According to the trader, Solana had a “clear 5-wave impulse to the upside that ended in January with TRUMP coin blow-off top,” which suggests a corrective a, b, c zigzag will follow. Based on this, the trader expects “a good mid-term bounce to ~$200 (Lower High)” for wave b and a drop to the $30-$40 price range for wave c. SOL Needs 15% Jump Analyst Ted Pillows considers that Solana could see a massive rally after the correction. He explained that SOL bounced from its multi-year ascending support trendline, a key rebound point in Q3 2023. The last time Solana retested this trendline, it rallied 1,000% toward the $270 mark. If the cryptocurrency holds this level, the analyst considers that SOL could bounce to its ATH in the coming months. Meanwhile, several analysts noted that recovering the $120 support zone is crucial after the recent price action, as this level could determine the altcoin’s next move again. Related Reading: XRP Breaks Out Of Head-And-Shoulders Pattern — Eyes Move Toward $1.30 Sjuul from AltCryptoGems highlighted that SOL needs to “give a clear bounce and reclaim the $120 level” now that “liquidity is taken.” He asserted that failing to recover this key range would suggest that another drop could be ahead. Similarly, Ali Martinez pointed out that Solana’s TD Sequential flashes a buy signal on the weekly chart. Per the post, SOL “needs to stay above $95 and break $121 to set the stage for a rally toward $147.” As of this writing, Solana trades at $105, a 1% decline in the daily timeframe. Featured Image from Unsplash.com, Chart from TradingView.com
Solana (SOL) is attempting to reclaim a key support level amid the recent market recovery, with bullish sentiment seemingly returning to the Altcoin. Some analysts suggested that its momentum could propel the cryptocurrency to the next crucial resistance. Related Reading: Analyst Says Bitcoin (BTC) Could See A 14% Price Jump If This Level Is Reclaimed Solana Sentiment Hits Positive Levels Again Over the past few days, Solana has seen a bullish recovery from last week’s lows, surging 14% from the $121 support. The market’s recovery has propelled the token above the $145 barrier earlier this week, after printing five consecutive green daily candles. Amid this week’s surge, on-chain analytics platform Santiment highlighted that Solana’s social sentiment has seen a massive surge to historic highs fueled by institutional interest, technological advantages, community support, and influencer engagement. “With news of institutions like GameStop and BlackRock are integrating Bitcoin and launching yield-bearing tokenized treasury funds on Solana, crypto’s #5 market cap asset is seeing an astounding level of bullish sentiment pouring in on social media,” explained Santiment’s Director of Marketing, Brian Quinlivan. Per the post, social media posts reflect optimism for SOL’s price recovery and a bullish outlook on the broader crypto market. Notably, Solana registers a “nearly unheard of positive vs. negative commentary ratio of 18:1 right now.” Just a month ago, the SOL’s sentiment hit its lowest level in a year. According to analyst Miles Deutscher, the sentiment has not been at those levels since Solana reclaimed the $100 barrier in early 2024. It’s worth noting that market sentiment significantly shifted following the collapse of the memecoin frenzy, which fueled SOL’s rally throughout last year. After the TRUMP and MELANIA memecoin launches and the LIBRA token controversy, several community members expressed increasing fatigue from the numerous scams. Subsequently, the cryptocurrency’s price dropped over 50% from its January all-time high (ATH), losing the $200 support zone and hitting a yearly low of $111 earlier this month. SOL Gearing Up For Next Big Resistance Various market watchers noted Solana’s recent performance, underscoring the reclaim of the $136 level on Monday. This level has been a significant resistance for the past two weeks and has also served as a key breakout level during the Q1 and Q4 2024 breakouts. Analyst Jelle considers there’s “a lot of ground to cover” despite the “solid reclaim” of the 2024 range lows. Meanwhile, another market watcher pointed out that Solana broke out an ascending triangle pattern after the price surge. Related Reading: SUI Reclaims Key $2.40 Support Amid Breakout – Is A New High Coming? After attempting to reclaim the $140 mark this morning, SOL is currently retesting the recently recovered support, hovering between the $136-$139 price range. A successful breakout confirmation could impulse Solana’s rally toward the next big barrier, at $180. According to Ether Wizz, SOL is “fully ready for its next B I G move.” Once the next crucial resistance is broken, the “next leg up will take us towards $270. Many people are still not ready for this move,” the analyst concluded. As of this writing, Solana trades at $138, a 2% surge in the weekly timeframe. Featured Image from Unsplash.com, Chart from TradingView.com
Solana (SOL) has seen a nearly 40% retrace over the past month, losing key support levels since February. As its price retests a key horizontal level, some analysts warn of a potential 50% correction to a yearly low. Related Reading: Solana Falls Under Realized Price: Here’s What Happened Last Time Solana Loses Key Support Level Solana has been one of the leading cryptocurrencies of the cycle, fueled by the market’s memecoin frenzy. The altcoin climbed over 270% in a year to its latest all-time high (ATH) of $270, registered nearly two months ago. Nonetheless, SOL’s bullish sentiment has significantly decreased since January, recently plummeting to its lowest point in over a year. As a result, the cryptocurrency has dropped over 50% from its January 19 ATH. Solana lost the key $200-$220 support zone at the start of last month, with the February market crashes sending SOL to retest its next crucial levels. After losing the $180 mark two weeks ago, its price hovered between the $130-$150 range, surging to the $179 mark at the start of March. This week’s market correction, which saw Bitcoin (BTC) drop to $76,000 for the first time in four months, has sent Solana to new monthly lows. On Tuesday, SOL’s price briefly dropped to $111, a level not seen since the August 2024 market crash, before bouncing back to $125. Amid the ongoing retest, pseudonym trader Crypto Busy warned that SOL must “hold this crucial support to maintain a bullish sentiment above $100.” Crypto analyst Ali Martinez previously noted that the most crucial zone for Solana appears to be between $110 and $125, as this horizontal level served as a key support during its 2021 and 2024 rallies. The analyst suggested that “holding above this range could be key for the next move.” SOL Price Risks Move To $60 Martinez also pointed out that Solana could be on the verge of a breakdown, as it has broken below its key level. According to the post, SOL risks a 50% crash to the $60 mark if it fails to hold the $125 support zone. The analyst highlighted that the cryptocurrency has been forming a right angle ascending broadening pattern since March 2024, when it first reclaimed the level during this cycle. During this period, every higher high on Solana’s chart has created a rising trendline at the top of the pattern, while the $125 support has held “as a strong horizontal support trendline.” Related Reading: Ethereum Risks Another 15% Correction After Fall Below $2,000 – What’s Next For ETH? However, SOL’s break below this horizontal zone has increased the odds of a 50% price correction to the Q4 2023 levels. Additionally, Martinez recently warned of a potential correction based on Solana’s trading pair against Bitcoin, which started to resemble ETH/BTC’s chart. The analyst suggested that the SOL/BTC chart was looking like Ethereum’s trading pair against BTC’s past price action, adding that if it continued to follow this pattern, the SOL/BTC chart could see a drop to the 0.0008 region. After the recent price action, the trading pair hit a 15-month low of 0.0014624 on Tuesday. As of this writing, Solana trades at $124, a 14% decline in the weekly timeframe. Featured Image from Unsplash.com, Chart from TradingView.com
The Solana-based memecoin Launchpad Pump.fun’s X account has been hacked and used to promote fake cryptocurrencies, including an “official” PUMP governance token. On-chain investigators suspect the hack is linked to other X account compromises. Related Reading: Red Monday, Green Week? Bitcoin Needs To Reclaim This Level For Trend Continuation – Analyst Pump.Fun Hackers Launch PUMP Memecoin On Wednesday, Pump.fun’s official X account was compromised, with hackers promoting different tokens during the incident. The account started to post different contract addresses (CA) for various memecoins before deleting them. The hackers initially shared the contact address of PUMP, the “official Pump.fun governance token,” stating that “democracy has never been this degen” and that they would be rewarding their “OG DEGENS.” The crypto community quickly identified the memecoin as a scam and alerted other users of the potential account compromise. Blockchain data firm Bubblemaps warned users of the fake memecoin, explaining that PUMP was “heavily bundled and will dump,” as 60% of the token’s supply was held in two clusters. Meanwhile, Pump.fun’s founder, Alon Cohen, confirmed the X hack and asked the community not to interact with it or any links shared until it was recovered. According to on-chain investigator Dethective, the hackers extracted around $600,000 from the token minutes after sharing the memecoin. The crypto sleuth explained that their strategy consisted of posting the CA of a bundled scam token and deleting it after rugging investors. Besides the fake PUMP token, the malicious actor promoted OG, Extract Protocol (EXAI), and Pump.fun Hacked (HACKED), extracting around $90,000 from these memecoins. Dethective noted that some investors continue to buy the tokens after the hackers repeatedly rugged the previous ones, with the last token hitting a $1.5 million market capitalization at the top. The malicious actors asked the crypto community whether they should create a “legit token on Pump.fun” and call it “Hackeddotfun.” They “promised” to pump the memecoin to a market capitalization of $100 million, assuring it wouldn’t “be a bundle” and would be launched through the platform before deleting the posts. Pump.Fun Hack Linked To Jupiter’s X Compromise? Renowned on-chain detective ZachXBT revealed the Pump.fun compromise is “directly connected on-chain” to the Jupiter DAO and DogWifcoin compromises from February 2025 and November 2024, respectively. On his Telegram channel, the internet sleuth suggested that the attacks are “likely not the fault of either the Pump.fun or Jupiter teams.” Instead, Zach suspects a threat actor is “social engineering employees at X with fraudulent documents/emails or a panel is being exploited.” Wu blockchain shared GMGN data revealing that only one Pump.fun memecoin had a market value above $1 million yesterday. The post detailed that several tokens hit the $1 million barrier but quickly experienced a sharp drop. Related Reading: Solana Sentiment Hits 1-Year Low Amid Market Correction – Analyst Suggests Drop To $70 Following the TRUMP and MELANIA memecoins and the recent Libra token controversy, investors have expressed exhaustion from the continued memecoin scams deployed via the Solana-based launchpad. Some community members called the hack “the nail on the meme coin coffin,” as sentiment surrounding the sector’s “memecoin fiesta” is at its lowest point this cycle. At the time of this writing, Pump.fun’s team has regained access to the account and stated they will continue to monitor the situation as “the attack that led to this compromise is unknown, but it’s unlikely that the team is at fault.” Featured Image from Unsplash.com, Chart from TradingView.com
Amid the market retrace, Solana (SOL) saw a massive correction that dragged its price to a five-month low. If SOL fails to reclaim its key support levels, some market watchers predict the altcoin risks further bleeding. Related Reading: Red Monday, Green Week? Bitcoin Needs To Reclaim This Level For Trend Continuation – Analyst Solana Sentiment Plummets To Yearly Low On Monday afternoon, the crypto market continued the weekend bleeding after failing to hold its key support levels. In the past 24 hours, most cryptocurrencies have dropped to monthly lows amid the latest market correction. Bitcoin, the largest crypto by market capitalization, moved from the $96,000 mark to the range lows of its post-elections range before losing the $90,000 support for the first time since November. As the flagship crypto bled, Solana, one of the leading Altcoins this cycle, followed BTC’s steps. SOL dropped 12% from the $150 support, tapping the $140 level and dropping to $131 on Tuesday morning, its lowest price since September. Analyst Miles Deutscher pointed out that Solana’s sentiment has reached its lowest level in over a year. According to the post, the sentiment for SOL hasn’t been this low since the cryptocurrency first reclaimed the $100 mark at the start of 2024. It’s worth noting that market sentiment has shifted over the past few weeks, with several community members expressing increasing fatigue from the numerous Solana-based memecoin scams. After the Libra token crash, which saw over $100 million taken from investors, the market started to see capital rotation from Solana to Ethereum. At the time, SOL’s price dropped 12%, losing the $180 support zone and failing to reclaim it for the past week. Deutscher stated that Solana is “finally having its capitulation moment” after being a top performer throughout last year. He also implied that the capitulation suggests a rebound could be coming. Another 50% Drop Coming? Crypto analyst Jelle highlighted that Solana is registering a 50% drop from January highs and has retraced to a key weekly level. The $130 and $140 zone was a key support level throughout the 2021 all-time high (ATH) breakout and the 2024 rally. Jelle also suggested that holding this area will be key for Solana’s performance, as the upcoming token unlock, scheduled for March 1st, will affect its price. Ali Martinez commented on SOL’s recent performance, noting that SOL’s trading pair against BTC resembles ETH/BTC. According to the analyst, the SOL/BTC chart is starting to look like Ethereum’s trading pair against BTC’s past price action. Related Reading: LINK Sudden Breakdown Sparks Fears Of Collapse To $12.5 Support Zone If the pattern continues, SOL/BTC could be poised for a 50% drop to 0.0008, sending Solana’s price to the $70 region. Meanwhile, Altcoin Sherpa considers the $90-$125 region a “good area overall” to purchase, as he doesn’t believe that Solana is “dead.” The analyst added that SOL will likely recover from the lows but expects some volatility. As of this writing, SOL trades at $141.36, a 45% decline in the monthly timeframe. Featured Image from Unsplash.com, Chart from TradingView.com
Solana (SOL) recently lost its key support zone amid the controversial Libra (LIBRA) token launch and crash. The cryptocurrency has dropped over 12% in the last three days and some analysts suggest it risks a deeper correction to monthly lows. Related Reading: Cardano Price Eyes Impulse Move After Bearish RSI Divergence Was Invalidated, Here’s The Target LIBRA Token Crashes Solana’s Party The Solana network has been the talk of the town this cycle due to the memecoin frenzy, as it has been the go-to chain for these projects. The cryptocurrency has also been one of the leading tokens over the last year, outperforming most altcoins in 2024. Since 2025 started, SOL has shown strength despite the repeated market retraces, holding above key levels, quickly bouncing back, and even hitting its latest all-time high (ATH) of $295 nearly a month ago. Nonetheless, the most recent controversial launch of a Solana-based token has sent SOL’s price into a three-day pullback. On Friday, the Viva La Libertad project was announced alongside the Libra token, receiving the endorsement of Argentina’s President Javier Milei. The project aimed to “encourage Argentina’s economic growth by funding small businesses and startups” and surged to a $4.5 billion market capitalization following the president’s X post. However, it crashed 94% after the team wallets and insiders sold over $100 million worth of LIBRA at the token’s peak, resulting in President Milei’s distancing from the project. After the Libra crash, market sentiment shifted, with some community members expressing exhaustion from the numerous memecoin scams launched in the Solana network during the cycle. As a result, SOL’s price dropped to $190 and hovered within this range until Sunday. As more details of the Libra project came out, Solana dropped another 7.8% to the $180 support zone, sending the price to its lowest valuation in two weeks. Solana Loses $180 Support On Monday morning, the cryptocurrency briefly recovered to the $187 level but was rejected from the nearly one-month downtrend resistance line, as trader Crypto Rand noted. To the investor, there is a “Key squeeze over the main $180 support.” Crypto analyst Ali Martinez highlighted that Solana remained within its key range. The $180 to $190 crucial zone holds the post-election breakout level and has been a significant bounce range for the cryptocurrency over the past four months. Nonetheless, SOL fell below its key support zone after President Milei retweeted a post about the Libra token on Monday afternoon. The X post explained the steps to invest in the cryptocurrency, briefly sending LIBRA 60% up before retracing 42% after Milei undid his retweet. Since then, Solana has hovered between the $175 to $178 price range, a 6.6 retrace in the daily timeframe. Is The SOL Season Over? Amid SOL’s recent price action, some analysts have pointed out its chart against Ethereum (ETH). According to Daan Crypto Trades, SOL/ETH will be “an interesting chart to watch for the next few weeks.” The trader explained that SOL interest peaked a month ago when the TRUMP memecoin was launched. The series of “scams, rugs, and grifts” during the weak market has destroyed the “on-chain/meme ecosystem,” which had fueled Solana’s “strong tun-up to that point.” Daan argues that “capital [is] rotating from SOL to ETH for the first in a while,” which could see the SOL/ETH trading pair retesting the 2021 ATH level at 0.058. This level has been “pretty influential this cycle” and was a key bounce point in Q4 2024. Related Reading: Bitcoin’s Big Breakout? Fed’s “Not QE, QE” Just Flipped The Switch Meanwhile, Michaël van de Poppe considered the valuation of SOL/ETH has topped after a “massive wick created a massive bearish divergence and valuations start to drop.” As a result, “ETH season starts over SOL season” and rotation from Solana towards Ethereum has started. The analysts compared the memecoin frenzy to 2020’s DeFi surge, concluding that the SOL “memecoin fiesta has been an inner-circle money printer for a small group, and everybody knows about it now.” Featured Image from Unsplash.com, Chart from TradingView.com
Binance founder Changpeng Zhao, also known as “CZ,” has taken the crypto market by storm after sharing his dog’s name and picture. The announcement sparked the launch of multiple tokens inspired by the pet and was further fueled by BNB Chain’s memecoin launchpad’s name-guessing contest. Related Reading: BNB Flips Solana’s Market Cap Amid Market Retrace – Breakout To $700 Coming? CZ Sparks Memecoin Frenzy On Wednesday, Changpeng Zhao acknowledged the cycle’s memecoin frenzy after an X user asked if he had a dog. The Binance founder revealed he had “not a Shiba Inu, but a Belgian Malinois,” which resulted in the crypto community asking for the name and picture of his dog. CZ inquired about how it would work if he shared the information, asking if people would create memecoins based on the dog, how investors would know which one is the “official” token, and if it even mattered. He joked he would mull whether to “respect his privacy, or dox the dog for the cause,” sparking massive speculation about an official memecoin launch. On Thursday, CZ shared on X that he would officially share his dog’s picture and name at 8:00 PM Dubai time, or 4:00 PM UTC, sending investors into a frenzy over the upcoming post. Community members launched several tokens with the possible names of CZ’s four-legged companion, some reaching up to $60 million in market capitalization. Arkham noted that the two frontrunner tokens on the BNB chain, BROWNIE, and PERRY, significantly surged on Thursday morning. Remarkably, an investor made over $1 million with less than a $12,000 initial in 12 hours. Four.Meme Kicks-Off Token Event BNB Chain’s token launchpad, Four.Meme joined the frenzy, announcing a “CZ Dog Name Meme Token Betting Event.” According to the X post, the tokens with the same then-unknown name of CZ’s dog would be part of a competition. The tokens created today before 4:00 PM UTC would be eligible to participate and “become the next big meme.” The announcement detailed: 30 minutes after CZ’s post, the highest market cap token on Four.Meme wins! The winner’s token will have its tokens in LP revenue regularly burned by Four.Meme! At 4:12 UTC, the Binance founder shared a picture with his dog, Broccoli. The dog was named after the vegetable because he wanted “a name that started with B and has some green in it.” CZ wrote that he and Broccoli bonded over their difficulty socializing, adding that the dog helped him get a “good break” from the “intense negotiations with the DOJ back then.” He also stated that he never imagined his pet would be part of the blockchain ecosystem, adding that there’s “never a dull day in crypto.” Broccoli Immortalized In The Blockchain CZ clarified that he was “just posting” his dog’s pictures and name and not issuing a memecoin himself. He considered it was up to the community whether to launch a token. The BNB foundation “may provide rewards for the top memes on the BNB Chain, giving LP support or other rewards,” but the details are still being discussed. After the “Pet reveal,” the tokens guessing Broccoli’s name plummeted, with the leading memecoin falling from a $22 million market cap to less than $1 million in less than a minute. Related Reading: Bitcoin Finds Price Stability: Reclaiming $101,000 Depends On This Level Meanwhile, the creation of memecoins inspired by CZ pet’s real name spiked, with several BNB Chain and Solana-based tokens flooding DexScreener’s feed. At the time of writing, CZ’s Dog (BROCCOLI), launched a minute after Zhao’s post, has become the largest gainer. The memecoin reached a $300 million market capitalization minutes after being created and is currently trading at $0.0745, with a $75 million market cap. The winning token of the Four.Meme contest is yet to be announced. Featured Image from Unsplash.com, Chart from TradingView.com
Memecoins have been the leading narrative of the cycle after surpassing all expectations and becoming the top-performing sector of 2024. As we navigate 2025’s crypto market, emerging sectors like Artificial Intelligence (AI) agents could rival memecoins’ narrative mindshare. Related Reading: Solana (SOL) $200 Level Recovery Looks ‘Very Solid’, Is The Bleeding Over? Memecoins Defined 2024’s Crypto Market On Tuesday, Binance Research shared its “Full-Year 2024 & Themes for 2025” report, crowning memecoins as the “Defining Narrative of 2024. The platform highlighted the sector’s outstanding performance last year, which drove significant attention to the crypto market. According to the report, memecoins played a “significant role in onboarding new users to the crypto space and offer a unique way to monetize attention in the social media era.” Additionally, the notion of “so-called ‘blue-chip’ memes” served as a testament to the “growth and diversity of the memecoin market and its structure,” the report noted. The crypto community saw the creation of various sub-sectors within the memecoin space, encapsulating the events that shaped the year. For instance, PolitiFi tokens, which rose amid the American electoral campaign, recorded the many changes in the political landscape through these tokens. This narrative eventually led to the launch of the Solana-based TRUMP memecoin, the first-ever token officially backed by a politician. The memecoin was created in January to “celebrate Courage & Strength” after the July 2024 assassination attempt on President Trump. Binance Research points out that memecoins meteoric rise could be attributed to various factors, including increased transparency and a perception of fairness, accessibility, and addressing users’ frustration with the “low float, high FDV” issue. Additionally, it noted the sector’s high-risk, high-reward nature appears to have fulfilled the industry’s search for the first crypto AAA game. The report argues that the “thrill of creating memecoins of the smallest moments in cultures” trade them into “sky-high valuations” could be perceived as a game, keeping the community invested in the sector and increasing its popularity. AI Agents: The Growing Narrative Second to memecoins, the AI crypto sector took 12.6% of the narrative mindshare in 2024, opening the stage for the market’s “newer fascination,” AI Agents. This sub-sector captured investors’ attention throughout Q3 2024, fueled by Truth Terminal and GOAT’s growing popularity, and became a leading narrative in recent months. AI agents, initially sparked by Truth Terminal and $GOAT, have captured the market since October and become a dominant narrative. Infrastructure providers like Virtuals Protocol (G.A.M.E. framework) and ai16z (ElizaOS framework) have been key players. The sector has also faced backlash from the crypto community. Some investors consider the new trend “worse than other past trends,” arguing that it is “overrated.” Similarly, an anonymous poll showed that Solana founders consider AI agent tokens to be overhyped. Nonetheless, it has continuously evolved and has “lots more in development.” As of this writing, the sector has a market capitalization of $7.84 billion, according to CoinGecko data. What’s Next? Binance Research pointed out the issue of memecoin longevity, as many of the tokens see a rapid rise and fall. It considers that, despite not all tokens having the level of popularity to stand the test of time, memecoins are “likely to have some staying power” in some form. Related Reading: TRUMP Coin Tanks 18%—Even Donald Trump Couldn’t Save It Meanwhile, AI Agents are significantly earlier in their development but share the “power to onboard users (AI is a key topic across business and finance) and monetize attention.” As a result, the growth of the “AI x crypto” intersection is almost certain. The report concludes that the “entry of web2 into AI Agents, and the rapid development and anticipated trajectory of AI x crypto” are some of the key areas to watch this year. Featured Image from Unsplash.com, Chart from TradingView.com
On Wednesday, Dogwifhat (WIF) led the crypto market with a 16% surge to $1.37, becoming one of the best-performing cryptocurrencies in the last 24 hours. The token swam against the current as most of the top memecoins recorded red numbers, leading analysts to suggest a possible breakout for the token. Related Reading: Bitcoin Preparing For A February Rally? Analyst Says New High Is Two Weeks Away Las Vegas Sphere About To Be WIF Hat Dogwifhat has recovered from yesterday’s drop below the $1 mark following its team’s tease of the long-awaited Las Vegas Sphere project. On Tuesday night, the official Dogwifhat X account shared a picture of its mascot in Las Vegas. The image included the cute dog with the Las Vegas Sphere as its hat and an old Nokia phone with “01.2025” on its screen. Additionally, the account stated that the “hat stays on,” explaining that dates will be shared “as soon as we are allowed.” The bullish tease propelled the token back to its recently lost support of $1.30 and reignited the broader community’s interest in the memecoin. WIF became the memecoin sensation of 2024, reaching an all-time high of $4.88 last March. The token also led the memecoin narrative during Q2 and recovered some of its early glory during the December pump. However, WIF’s spotlight was eclipsed by the oversaturated memecoin sector and the rise of many other market sensations like PNUT and CHILL, dropping 40% in the last six months and 75% from its ATH. During its 2,000% growth phase, many crypto investors put their hats on, which prompted a massive fundraising campaign to display the memecoin in the Las Vegas Sphere, the world’s largest LED screen, for a week. The community raised $700,000 to achieve this dream but was left in the dark over the last several months. In July 2024, many investors expressed concern and frustration about the project after Crypto.com displayed Bitcoin’s logo on the Sphere. Some community members questioned the project, calling the initiative an alleged scam. However, the organizer repeatedly assured the WIF community that they were working to make “wif on Sphere” happen soon. Is the Dogwifhat Bottom In? Crypto analyst Altcoin Sherpa shared his outlook on WIF’s recent performance. He suggested that the pump doesn’t seem “actually real/sustainable” based on the “overall chart/market conditions.” However, he considers that if Dogwifhat shows some consolidation above the $1.23 mark, it could see another leg up. Meanwhile, crypto trader Bluntz stated that its current levels could potentially be WIF’s bottom. According to the post, “the major A wave has now been swept” and there are some “nice signs of life forming” in the lower timeframes despite the retrace lasting longer than he anticipated. The trader previously forecasted an “inevitable” fall to the $1 range, arguing that WIF was headed for a large retrace before the next parabolic run, which could lead to a new ATH. Related Reading: ‘No Need To Panic’: Cardano (ADA) Holding Key Level Despite 14% Drop After the recent performance, Bluntz warned that it is a “very early day, and we haven’t seen a 5-wave rise from the lows ‘yet’, but I think there’s a decent chance one has begun to form.” Another market watcher also pointed out a one-month falling wedge pattern on WIF’s chart, which targets $1.90 at a “minimum and quickly” if the memecoin breaks out of the upper downtrend line at around $1.40. As of this writing, dogwifhat trades at $1.21, a 14.4% surge in the daily timeframe. Featured Image from X.com, Chart from TradingView.com
Despite mainstream appeal, the distribution of the Trump memecoins was flashing red flags for investors looking for long-term opportunities.
Crypto exchange Binance was hit with a cease and desist letter by Mark Longo, owner of the internet sensation Peanut the Squirrel, for alleged copyright infringement. PNUT, the popular memecoin inspired by the squirrel, saw a nearly 10% decrease following the news. Related Reading: Solana (SOL) Faces Headwinds: Can Bulls Revive Momentum? Internet Squirrel Becomes Memecoin Sensation On Sunday, Mark Longo, owner of Peanut the Squirrel, announced that his legal team had initiated legal action against crypto exchange Binance. In an X post, Longo, also known as “Peanuts Dad,” accused the exchange of using his intellectual property without authorization. The rescued squirrel became an internet sensation after Longo’s online videos became viral, amassing over half a million followers on Instagram. However, Peanut was seized from Longo’s home alongside a rescued raccoon named Fred. Both animals were euthanized to be tested for rabies, as there are not any approved antemortem rabies testing methods for animals by the Centers for Disease Control and Prevention. Following the news, the public condemned Peanut’s death, with several lawmakers criticizing authorities’ actions. It also sparked a wave of Peanut-inspired memecoins, which resulted in the creation of Solana-based memecoin PNUT. Amid the controversy, the token quickly grew in popularity, hitting a $120 million market capitalization in less than a week. Binance announced the listing of the memecoin on November 11, opening spot trading that same day. After the news, PNUT’s price went on a massive rally, climbing to the top 10 memecoins by market cap. The token achieved the $1 billion milestone in less than a month, reaching a $2.27 billion market cap before retracing. For the past month, PNUT has held above the $1 billion mark, with the price hovering between the $1.80-$1.00 price range. Crypto Exchanges Hit With Cease And Desist Letter According to the letter shared by the animal rights activist, Binance allegedly infringed “the intellectual property rights owned by Mr. Longo.” His legal team argues that the exchange’s use of the copyrighted photograph of Peanut the Squirrel wearing a cowboy hat and the “identical” trademark of “PEANUT THE SQUIRREL and PNUT” in the listed memecoin infringes their client’s “various copyrights and trademarks.” The letter demanded that Binance respond to the letter by December 31st, 2024, to verify the exchange received the letter and “have ceased all infringing activity.” Moreover, Longo revealed in his post that this was the first of multiple cease and desist letters to be issued. PNUT faced a 10.2% dip after the news, falling from the $1.17 level to the $1.05 support in 24 hours. The retrace drove the token near its lowest levels in over a month, worrying investors about the memecoin’s performance. Related Reading: Ex-Hedge Fund Guru Bets Big On Dogecoin As ‘Core Crypto Bet’ It’s worth noting that Longo has previously stated his discontent with the PNUT memecoin, accusing the crypto community of profiting from his late pet. As a protest, the animal rights activist launched a memecoin named Justice for Pnut and Fred (JUSTICE), which faced controversy over insider trading allegations. Longo also promoted another memecoin, Justice for Peanut (JFP), in his warning post, which saw a 159% increase after the publication before losing all its recent gains. At the time of writing, PNUT is trading at $1.10, a 5.1% drop in the daily timeframe. Featured Image from Unsplash.com, Chart from TradingView.com
On-chain investigator Coffeezilla recently accused influencer Hailey Welch and the HAWK memecoin team of scamming her fans with their recent token launch. The team faces backlash because the cryptocurrency nosedived 94% just over 12 hours after launching, leaving investors empty-handed. Related Reading: South Korean Crypto Exchanges Hit Record-Breaking $34 Billion Volume Following Market Shakeout The […]
Crypto sleuth ZachXBT has accused a former professional gamer and cybersecurity analyst of helping steal $3.5 million from numerous memecoins scams. The on-chain detective’s investigation unveiled a connection between the Australian man and nine crypto hacks. Related Reading: US Judge Halts Arkansas Crackdown On Crypto Mining Firm Over Foreign Ownership Case Former Pro Gamer Turned […]
A new Solana-based memecoin has stolen the crypto market’s spotlight after surging over 80% in seven days to a market capitalization above the $600 million mark. After its remarkable performance, the latest internet sensation continues to grow in popularity, recently scoring two major exchange listings. Related Reading: Polygon: Analyst Sets ‘Wild’ Price Target Amid POL’s 38.2% Weekly Surge Just A Chill Rise To $0.65 This cycle’s memecoin mania has seen the rise and fall of many tokens in the last few months, including the Celebrity token frenzy and the recent Pump.fun Livestream saga, sparking a discussion on whether they benefit the market. Despite the criticism, new tokens continue to rise, with some leaping into massive highs in a matter of days. The latest memecoin sensation, just a chill guy (CHILLGUY), has ignited a craze that sent the token to a massive 80% weekly rally. The cryptocurrency is based on a viral TikTok meme of a smirking dog in a laid-back pose dressed in casual clothing. The original drawing was created by Philip Banks in 2023 and has been slowly gaining popularity on social media platforms. The meme also became viral on X and Instagram, with several reimaginations of the ‘Chill Guy’ flooding people’s timelines. Amid the meme’s popularity boost, crypto investors created a token inspired by the internet sensation. On November 20, the meme’s momentum fueled the token’s 400% rally to $0.44 in 24 hours. However, its price momentarily dropped over 30% after Banks announced he would take legal action against the token for copyright infringement. Since then, the memecoin has surged around 50% to its all-time high (ATH), recording two new highs during the last day. The token hit the $0.56 mark on Tuesday afternoon before surging another 20% to its latest ATH of $0.65 on Wednesday morning. The cryptocurrency hit a market capitalization of $657 million before retracing below $600 million, sitting as the eighth-largest Solana-based memecoin. Memecoin Sensation Scores Major Listings The token’s frenzy has been fueled by the meme’s current popularity and its endorsement by public figures. A week ago, El Salvador’s pro-Bitcoin President, Nayib Bukele, shared the just a chill guy meme as BTC traded above $94,000 for the first time in history. Moreover, Popular YouTuber Mr. Beast called the internet sensation the “biggest meme of our lifetime” after streamer Ninja shared his version of the meme on Tuesday. Adding to the momentum, major crypto exchanges have announced their listing of the latest memecoin sensation. On November 26, Bybit listed CHILLGUY on their Spot trading platform, while Binance announced it would add perpetual contracts with up to 75x leverage to Binance Futures on November 27. Amid the CHILLGUY frenzy, an investor made over $6 million from the token. As on-chain data analytics firm Lookonchain reported, a crypto trader spent 0.75 SOL, worth $160, to buy 12.5 million CHILLGUY tokens. Related Reading: Altcoins ‘Starting To Run’ After Reclaiming This Key Level, Altseason Around The Corner? Twelve days later, the trader now holds 9.2 million tokens, making a total profit of $6.1 million at the time of Lookonchain’s report. Some community members noted that if the cryptocurrency continues its rapid growth, it could flip other memecoin sensations like dogwifhat (WIF) and Popcat (POPCAT) within a week. However, it remains to be seen whether the token can sustain its current momentum or become a one-hit crypto wonder. As of this writing, CHILLGUY trades at $0.59, a 23.3% increase in the daily timeframe. Featured Image from Unsplash.com, Chart from TradingView.com
Memecoins have been the top narrative of this cycle, bringing in millions of dollars in revenue to platforms like Pump.fun and generating massive profits for crypto investors. However, many consider that the frenzy around these tokens has taken a concerning turn as the cycle progressed, with figures like Changpeng Zhao urging for projects with ‘real’ […]
Solana-based memecoin launchpad Pump.fun is in the middle of a storm after a wave of users misusing its Livestream feature to pump their tokens became viral. The recent harmful behavior comes amid the cycle’s memecoin frenzy, which has seen numerous community members use deceitful tactics to profit from the sector’s popularity. Related Reading: Shiba Inu […]
A young crypto trader attempted to rug-pull a Solana-based memecoin on a live stream, but the crypto community joined to “teach him a lesson” by sending the token to an $80 million market cap. Related Reading: Bitcoin ‘Parabolic Phase Just Begun’, Is BTC Hitting $100,000 This Week? Solana-Based Memecoin Rug Pulled By 12-Year-Old As the market enters the rally’s second leg, Solana memecoins remain the cycle’s top narrative, and many traders continue to try to find and profit from the next big thing. However, scammers continue to attempt to take advantage of the memecoin frenzy. A Gen Z trader has made the headlights after trying to rug a Solana-based memecoin he created on a live stream. The 12-year-old trader has a crypto-dedicated X account and has previously shared his profits. On Monday, he posted a picture sharing he “just made $2k before school.” The next day, the young trader launched the Gen Z Quant (QUANT) token on the popular Solana-based launchpad, Pump.fun. While the token’s price rose, he expressed surprise before flipping the watchers. According to the on-chain analytics firm Lookonchain, the kid sold all his QUANT holdings, around 51 million tokens. The Gen Z trader got 128 Solana (SOL), worth $30,000, for the tokens, making a $29,600 profit in minutes. After the kid ended the live stream, the crypto community took over the Solana memecoin, sending the price toward the $0.08 mark as “revenge.” The token rose over 77,000% to a market capitalization of $82.3 million in the early hours of Wednesday before retracing toward the $50 million mark. As a result, the Gen Z trader’s holdings would have been worth around $4 million just a few hours after rug-pulling. Some crypto investors considered the takeover a “lesson for all of those who rug.” Meanwhile, others questioned the state of the community for it to be scammed by a child and argued that investors should not abandon the Solana memecoin “to prove a point.” The Rapid Fall Of QUANT Following the rug pull, the kid created another two memecoins, LUCY and SORRY, seemingly poking fun at the crypto community for his QUANT scheme. However, he sold these tokens for 103 SOL, worth $24,000 at the time of the report. The Gen Z trader’s scheme also resulted in several memecoins related to the event. However, some of the tokens were based on the kid and his family, who had their information doxxed online after the incident. Notably, a lucky trader managed to get a 2,141x return on his QUANT investment despite the rug pull. Lookonchain also reported on an investor who spent 2 SOL, valued at $462, to buy 18.89 million QUANT tokens. Related Reading: Aptos Following SUI’s Lead? Analyst Says APT’s ‘Explosive Breakout’ Targets $20 Three hours later, the crypto community had sent the token to its peak, driving his unrealized profits to nearly $1 million. The trader sold 3.71 million QUANT for 116 SOL, worth $27,000, and left 15.18 million QUANT, making an unrealized profit of $962,000 at the time of the report. Despite the takeover, the memecoin’s rally has significantly slowed throughout the day, falling 57% from its peak. As of this writing, the token trades at $0.035, with a market capitalization of $35.11 million. Featured Image from Unsplash.com, Chart from TradingView.com
Solana-based Memecoin Dogwifhat (WIF) is among the tokens leading the crypto market. The cryptocurrency surged over 40% in the last 24 hours, breaking above the $4 resistance zone following its Coinbase listing. As a result, some market watchers forecasted a massive WIF rally before year-end. Related Reading: Market ‘Pricing In A Higher Fair Value’ For Bitcoin As Price Discovery Continues Dogwifhat Rallies 40% Amid Coinbase Listing Dogwifhat has been one of the best-performing memecoins of this cycle, seeing a 2000% surge to its $4.83 all-time high (ATH) in March. The token led the Solana meme frenzy during Q1 but faced a significant 66% price drop in the following months while the market retraced. As the crypto market regained momentum, the token broke above the crucial $2 resistance zone, reclaiming this level as Q3 closed. Since Trump’s victory in the US presidential elections, WIF has joined the market’s broader rally, breaking out of an 8-month downtrend. WIF’s reclaim of the $3 mark earlier this week fueled investors’ bullish sentiment as the token reached levels not seen since June. Moreover, the cryptocurrency experienced a massive 40% rally in the last 24 hours after being listed on a major crypto exchange. On Wednesday, Coinbase announced the listing of Dogwifhat alongside frog-themed memecoin PEPE. The news propelled a massive rally for the dog-themed token, sending its price from the $2.93 weekly low to the $4.00 resistance level. On Thursday morning, the memecoin rallied toward the $4.30 mark, seeing its highest price since early April. Since the listing news, WIF has tried to turn the $4 resistance into support, briefly losing the level as Bitcoin (BTC) retraced to $87,000. Despite the momentary retrace, Dogwifhat remained among the best-performing cryptocurrencies among the top 100 list, seeing a 9.9% increase in the last 24 hours, while the broader market bleed 2.2%. WIF To $5 By Christmas Day? Following its massive performance, some market watchers forecasted a $5 target for the cryptocurrency. Trader Koala suggested that WIF would see a deviation from its 24-hour $3.90-$4.30 range. After the deviation, the analyst stated that the memecoin could see a bounce from the range’s lows toward the range highs before moving toward the $5 zone. The token has momentarily recovered from the drop below $4, trading at the range’s lower levels, just 16.4% below its ATH. Meanwhile, another market watcher suggested that Dogwifhat could see a rally like Shiba Inu’s (SHIB) 2021 run. X user Sito noted that SHIB rallied 1800% after being listed in Coinbase, reaching its ATH of $0.00008616 42 days later. Related Reading: Dogecoin Frenzy Arrives In Korea: ‘Kimchi Premium’ Returns Amid DOGE’s 110% Rally Per the post, WIF could see its surge above the $50 mark if it performs similarly to SHIB’s price action post-Coinbase listing. Sito pointed out that this would lead to WIF’s price trading at $52 by Christmas day. Moreover, he detailed that SHIB’s listing occurred towards the end of the previous bullish cycle, arguing that dogwifhat’s listing could be “even more bullish as it would allow for more organic growth.” As of this writing, WIF is trading at $4.05, a 71.6% surge in the last seven days. Featured Image from Unsplash.com, Chart from TradingView.com
Data shows Dogecoin and other meme coins are receiving a significant amount of attention on social media, a sign that may not be ideal for Bitcoin. Top 6 Memecoins Have Seen Their Social Dominance Rocket Up Recently In a new post on X, the analytics firm Santiment has discussed about the trend in the Social Dominance for a few different subsections of the cryptocurrency sector. The “Social Dominance” here refers to an indicator that basically tells us about the mindshare that a particular asset or a group of coins has on the major social media platforms right now. Related Reading: Bitcoin Sets Record $93,000 High As Extreme Greed Level Hits 84 More formally, the metric’s value is calculated as a percentage of the discussions related to the top 100 cryptocurrencies by market cap that the given asset is making up for. To determine this, the indicator collects posts/threads/messages available on five platforms: X, Reddit, Telegram, 4Chan, and BitcoinTalk. It then filters them for the keyword in question. Note that for measuring the “discussion,” the metric simply counts up these posts containing at least one mention of the asset, rather than counting up the mentions themselves. The advantage of this methodology is that outlier posts containing hundreds of mentions don’t skew the data. Now, here is the chart shared by the analytics firm that shows how the Social Dominance related to three subsections of the market has changed over the last few months: The three segments in question are the layer 1 top six, the layer 2 top six, and the memecoin top 6. “Layer 1” networks refer to the primary blockchains that handle their own security, like Bitcoin and Ethereum. Networks like Polygon that are built on top of these chains are known as “layer 2.” Naturally, the meme coins refer to the popular meme-based tokens, like Dogecoin and Shiba Inu. From the graph, it’s apparent that the Social Dominance of the layer 1 top 6 had rocketed up a couple of days back as a result of Bitcoin setting multiple new all-time highs (ATHs). BTC has continued to explore new highs since then, but it appears that the focus of social media users has shifted elsewhere, with the Social Dominance of the layer 1 giants witnessing a cooldown. The indicator has stayed relatively low for the layer 2 coins throughout this, implying the traders haven’t been caring much about them recently. The assets that have hogged all the attention have been the memecoins, who have just seen their discussion hit a new record. The reason behind this high interest in these tokens is the impressive rally that Dogecoin has seen over the past week, leaving the rest of the sector in the dust after amassing profits of more than 104%. If the past is anything to go by, though, this outperformance may not be such a good thing. “Historically high speculative asset social dominance typically indicates greed and emotional trading,” notes Santiment. Assets in the cryptocurrency sector tend to move opposite to the crowd’s beliefs, so greed is something that has generally led to tops for the market. Related Reading: XRP NVT Ratio Has Been High Recently: What It Means As such, it’s possible that a shift in focus away from Dogecoin may have to happen, if Bitcoin and others have to continue their bull run. Dogecoin Price At the time of writing, Dogecoin is trading around $0.398, up over 2% in the last 24 hours. Featured image from Dall-E, Santiment.net, chart from TradingView.com
As the US presidential election results loom, one analyst is expressing confidence in the continuous surge of memecoins, particularly in the context of the ongoing political landscape. In a recent social media post on X (formerly Twitter), Miles Deutscher asserted that dog-themed and cat-themed cryptocurrencies will continue outperforming the broader crypto market, regardless of whether Donald Trump or Kamala Harris emerges victorious. Dogecoin Leads Memecoins Resurgence On Election Day Bitcoin (BTC), the largest cryptocurrency on the market, is trading near the $70,000 mark, up a modest 2.2% over the past 24 hours, after several failed attempts to break above its all-time high of $73,700 last week. In stark contrast, Dogecoin (DOGE), the leading memecoin by market capitalization, has surged by 12% during the same period, demonstrating the sector’s performance relative to the top ten cryptocurrencies. Related Reading: Solana ‘Must Break Descending Resistance’ To Regain Bullish Momentum – Analyst Deutscher suggests that if Trump wins the election, Dogecoin’s positive momentum will likely increase. He cites Trump’s proposed Department Of Government Efficiency (DOGE) initiative, which he believes will increase Dogecoin’s visibility and liquidity, as a catalyst that could spark a broader rally in the memecoin space. “DOGE as the meme leader will drive attention and liquidity rotation to the broader meme narrative, he asserts.” This enthusiasm could lead to a significant influx of speculative investments, often called “fear of missing out” (FOMO). Increased Crypto Scrutiny Under A Harris Administration? Deutscher further predicts that a Trump victory would spark a rally in altcoins, especially memecoins, which have historically shown strength leading up to elections. Another clear example of this is that the largest tokens in the Solana memecoin ecosystem, Dogwifhat (WIF), Bonk Inu (BONK) and Popcat (POPCAT), saw surges of 6.3%, 8% and 6% respectively, on election day, all of which outperformed the top ten cryptocurrencies in the market. Deutscher also said that with many cryptocurrencies undergoing significant drawdowns as investors de-risked ahead of the election, they would likely experience a pronounced bounce if Trump secures the presidency. Conversely, if Kamala Harris wins, the analyst foresees a different dynamic. The possibility of increased regulatory scrutiny on utility tokens could prompt investors to seek refuge in more speculative assets, such as memecoins. Related Reading: Why Is Dogecoin Going Up Today? Key Drivers Of DOGE’s 10% Surge Deutscher notes that under this scenario, the fear of a crackdown, reminiscent of the operation chokepoint initiatives targeting certain crypto assets, may lead investors to gravitate towards nihilistic alternatives like memecoins. Ultimately, this shift could increase meme coins dominance, especially if traditional sectors like decentralized finance (DeFi) face heightened scrutiny. In this case, Deutscher asserts that investors might shy away from the broader altcoin market, favoring assets that have already demonstrated resilience and strength throughout the year. Based on price action trends, the analyst points out that some memecoins may be perceived as less risky than other altcoins, a sentiment that appears to be gaining traction among retail investors. At the time of writing, Dogecoin trades at $0.1755. Featured image from DALL-E, chart from TradingView.com
Dogwifhat price staged an over 70% rally over the past month as memecoin traders reset their positions.
As the broader crypto market shows signs of notable recovery, memecoins are experiencing significant gains, reflecting investors’ renewed appetite for quick and substantial returns after a period of volatility and price declines. Move From Bitcoin To Memecoins In Upcoming Crypto Bull Run? Crypto analyst Ardizor has outlined five memecoins to watch, anticipating that these assets could yield substantial returns as what he describes as the “biggest bull run” in crypto is set to commence in October. Related Reading: Bitcoin To Outshine Gold By 400% By 2025, Veteran Analyst Predicts According to Ardizor, Bitcoin (BTC) cycles typically begin 170 days after its Halving event and reach their peak approximately 310 days later. He suggests that starting in October, these memecoins and the broader market are positioned for significant gains that could surpass previous record highs. Ardizor emphasizes that new bull runs often begin with liquidity flowing to established cryptocurrencies like Bitcoin and Ethereum (ETH) before shifting toward memecoins, setting the stage for a potential resurgence in the sector. Five Tokens Poised For Major Gains Among the memecoins Ardizor highlights are Sundog (SUNDOG), which has rapidly gained traction within the Tron network. He notes that Sundog is rooted in community engagement, aiming to unite enthusiasts and create “an inclusive ecosystem that offers various benefits for its holders.” Currently trading at $0.31, up nearly 6% in the 24-hour time frame, and with a market cap of approximately $287.7 million, Sundog stands out as one of the most promising new entries in the memecoin landscape, according to the analyst. Another notable mention is Simon’s Cat (CAT), which has emerged as the largest and most recognized meme coin on the Binance Smart Chain (BNB). Ardizor points to its consistent price increase, noting that Simon’s Cat is backed by the well-known Simon’s Cat brand, which has garnered over 1.6 billion views on its YouTube channel. The memecoin has a market cap of around $280.6 million and is trading at $0.000040, up a substantial 96% in the last month alone, proving the analyst’s theory of further price gains and investor interest in the token. The analyst also discusses Cate on ETH (CATE), a memecoin that originated from the Dogeverse and was inspired by a tweet from the Own the Doge social media account. With strong ties to Dogecoin (DOGE), Ardizor believes that CATE embodies a “spirit of adventure and innovation”, making it an attractive option for investors looking for the next big thing in memecoins. It currently has a market cap of around $16.2 million. Related Reading: Analyst Predicts 8,500% Rally For Cardano To Reach $31 As Indicators Turn Bullish In addition, Neiro (NEIRO) is highlighted as a continuation of the Doge legacy. Associated with Kabosu, the dog behind the iconic Doge meme, Ardizor contended that Neiro captures the “true essence of memecoins and internet culture.” NEIRO currently has a market capitalization of $341 million, with a notable 52% increase in the last 24 hours, resulting in a trading price of $0.0012, and over 2,325% in the last thirty days alone, making it the best performing token on Ardizor’s list. Finally, Ardizor introduces the Turbo token (TURBO), a project that began as a bold experiment in cryptocurrency creation. Inspired by artificial intelligence (AI), Turbo was initiated with a simple challenge to create the next great memecoin starting with just $69. Today, the analyst notes that it thrives as a decentralized, community-led initiative, boasting a market cap of $387 million. Currently, TURBO trades at $0.0062, recording impressive gains of 8,980% year-to-date (YTD). Featured image from DALL-E, chart from TradingView.com