Solana co-founder Anatoly Yakovenko is facing backlash from the crypto community over his comments about meme coins and non-fungible tokens (NFTs). Yakovenko made these remarks against these tokens despite his network being home to most of the top meme coins by market capitalization. Crypto Community Reacts To Solana Founder’s Comments The crypto community criticized Anatoly Yakovenko following his X post, in which he described meme coins and NFTs as “digital slop” and ones that have no intrinsic value. The Solana founder added that, like a mobile game loot box, people spend $150 billion a year on mobile gaming, in reference to his ideology about meme coins and NFTs. Related Reading: These Two Bearish Scenarios Put Solana Price At $162 After Fakeout Crypto marketer Anastasiia Bobeshko described the Solana founder’s comments as being funny, considering the traction that memes have brought into the Solana ecosystem. She further noted that the network made $1.6 billion in the first half of 2025 thanks to these meme coins. Another member of the crypto community, Ethereum developer Hanniabu, had earlier echoed a similar sentiment, suggesting that the network would be nothing without meme coins. Null, a member of the BONK community, declared that the Solana network would have never been where it is today without meme coins. Yakavenko replied sarcastically, saying, “Absolutely. Without lootboxes, iOS would have negligible revenues for Apple.” Meanwhile, Crypto community member Art Chick asked the Solana founder if he had a problem with memecoin traders spending $150 billion a year on his chain, but they don’t see it as mobile gaming. Yakovenko responded and alluded to an earlier reply in which he explained that what is important is the need to monitor data, fix problems, use snipers, and work towards sandwich-resistant market implementations. Difference Between Solana and Base Meme Coins It is worth noting that the Solana founder’s comment about meme coins stemmed from when he criticized a comment from Base’s lead developer Jesse Pollak, who suggested that Zora meme coins (which are Base tokens) are more valuable than those from Solana’s Pump.fun. In response, Yakovenko asked Pollak if Zora coins have any claims on future cash flows from creators, something which Pump.fun has. Related Reading: Top Meme Coins Stealing The Spotlight As Bitcoin Price Hits $118,000 ATH Pollak then clarified that each coin’s value depends on their fundamentals, which is why he believes that not all meme coins are the same. However, the Solana founder doesn’t believe meme coins as a whole have any “intrinsic value.” Despite his comment, these meme coins, especially the top ones like Fartcoin, BONK, PENGU, and TRUMP, continue to contribute to a significant amount of the daily trading volume on the network. Notably, the Solana price surged to a new all-time high (ATH) of $294 in January, around the time the TRUMP meme coin first launched. SOL witnessed a significant surge in its demand at the time, with investors requiring the altcoin to purchase the meme coin. At the time of writing, the Solana price is trading at around $183, down over 5% in the last 24 hours, according to data from CoinMarketCap. Featured image from Adobe Stock, chart from Tradingview.com
NBA Top Shot collectibles are now available via Japanese vending machines, expanding their reach into the real world.
Anatoly Yakovenko, co-founder of the Solana blockchain, has described memecoins and NFTs as “digital slop,” even as the network continues to benefit massively from the hype surrounding these assets. In a July 28 post on X, Yakovenko argued that memecoins and NFTs lack inherent value. He compared them to loot boxes in mobile games, which […]
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Large volumes of Pudgy Penguin’s PENGU tokens are flowing from the project’s deployment address to centralized exchanges (CEXs), raising questions amid a strong market rally. On July 28, blockchain analyst EmberCN, citing Arkham Intelligence data, reported that more than 206.9 million PENGU tokens, valued at approximately $8.91 million, were transferred to various CEXs within the […]
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PENGU has climbed 151% in July, a rally driven by accumulation from public figures and whales, community momentum, viral marketing, and expanding liquidity. The token is currently trading at $0.036955, with a 1.6% daily correction as of press time. Nicolai Søndergaard, a research analyst at Nansen, stated that public figures have accumulated over the past […]
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The overall capitalization of non-fungible tokens has jumped 66% to $6 billion in the past 30 days with CryptoPunks' market share growing past 30%.
The Frisco, Texas-based firm also added to its ether treasury, buying 2,742.75 ETH, worth just over $10 million
Arthur Hayes, Chief Investment Officer at Maelstrom and former BitMEX CEO, has shared a highly optimistic outlook for Ethereum (ETH), predicting that the digital asset could reach a new all-time high of $10,000 by the end of the year. In a July 23 blog post, Hayes described ETH as “the most hated large-cap crypto,” likening […]
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The Pudgy Penguins project has had a massive rally over the past week, stealing the spotlight in both the non-fungible token (NFT) and memecoin sectors. Amid its recent performance, some analysts suggest that the token is preparing for a 140% run to new highs. Related Reading: Dogecoin Price Breaks Above $0.26 In Weekend Rally As Pundit Predicts 2,600% Surge Pudgy Penguins Catch NFT And Memecoin Rally On Monday, Pudgy Penguins (PENGU) became one of the leading memecoins after surging nearly 20% in the past 24 hours. The Solana-based token saw its price climb from the $0.031 mark to a six-month high of $0.040 before retracing to the $0.036 area. Pudgy Penguins is one of the largest NFT collections, with a market capitalization of 143,897 ETH. It consists of 8,888 unique cartoons of cute penguins and sits behind CryptoPunks as the second-largest NFT collection. In December, the Pudgy Penguins project launched its official token, PENGU, on the Solana Blockchain, gathering massive attention during the Q4 2024 rally. The memecoin flipped tokens like dogwifhat (WIF) and BONK, momentarily becoming the largest Solana memecoin by market cap and the fourth-largest memecoin by this metric, just behind Dogecoin, Shiba Inu, and PEPE. During the recent crypto market performance, PENGU has significantly recovered from its April all-time low (ATL) of $0.003, which represented a 95% decline from its December all-time high (ATH) of $0.068. Over the past week, the token has reclaimed crucial levels after breaking out of its multi-month downtrend and rallied around 30%, surpassing the daily and weekly performances of SHIB and PEPE. Pudgy Penguins NFT collection also soared in the past 24 hours, with a 290% increase in trading volume, driven by the recent interest in the sector. The collection’s 16% daily surge saw its floor price rise to 16.19 ETH, or $60,242, by Monday afternoon. Notably, the NFT market cap reached its highest level since January after jumping 17% on Sunday from $5.1 billion to $6 billion, according to CoinGecko data. A recent report noted that NFT sales increased by 78% in Q2, while the number of traders increased 20% from Q1, suggesting renewed interest in the sector. PENGU Eyes 140% Surge Crypto analyst Sjuul from AltCryptoGems noted that the Solana memecoin has been showing positive signs of strength since late June, when it broke out of a textbook multi-month Cup and Handle pattern. Since then, the token has smashed past the pattern’s neckline, around the $0.018 mark, and reclaimed the $0.020 resistance as support, which propelled its 30% surge in the weekly timeframe to its $0.035-$0.040 levels. Ahead of the Monday surge, Ali Martinez highlighted that PENGU was “ready for another leg up” as it had been accumulating within a symmetrical triangle formation over the past week. Based on this pattern, the cryptocurrency could see a 140% surge toward the $0.075 barrier if it continues to hold above the $0.031-$0.033 breakout area and confirms these levels as support in the coming days. Meanwhile, two market watchers have shared optimistic targets for the cryptocurrency this cycle. Byzantine General affirmed that PENGU could go to a market capitalization of $10 billion. “If you consider that it’s the memecoin with the most mainstream adoption, with maybe the exception of DOGE, it’s not that crazy at all actually,” he detailed. Similarly, Crypto Kaleo considers that “$0.8888 is a decent target, but it’s still FUD.” Related Reading: Dogecoin Rally On Thin Ice: Analyst Predicts Sudden Shakeout To the analyst, “PENGU to $4.20 would put it at a $373B mcap. This is a much better upside target.” He explained his bold prediction, arguing that “Last bull market, SHIB hit 50% of DOGE’s peak. There’s room to have other high-quality memes do something similar this cycle.” As of this writing, PENGU trades at $0.036, a 19% increase in the daily timeframe. Featured Image from Unsplash.com, Chart from TradingView.com
Animoca Brands co-founder and executive chair Yat Siu believes that a resurgence in the NFT sector could push Ethereum to all-time highs, surpassing its previous peak during the 2021 bull run. In a July 21 post on X, Siu highlighted the historical relationship between Ethereum’s price and NFT market activity. He noted that Ethereum last […]
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Ethereum is marking its 10th anniversary with a symbolic gesture and a technical leap forward for the blockchain network. Ethereum Toch NFT On July 20, the network revealed that it launched a ceremonial “Torch” NFT to celebrate the people and principles that have shaped its decentralized journey since July 30, 2015. According to Ethereum’s website: […]
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NFT-related tokens delivered the strongest sector performance in the second quarter, gaining an average of 55.4% even as dollar-denominated NFT trading volume fell to multi-year lows. Artemis data shows that the average gains from NFT-related tokens surpassed the second-best performance, which was Ethereum’s (ETH) 37.2%, by nearly 50%. Pudgy Penguins’ PENGU token accounted for much […]
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Bitcoin (BTC) registered a new all-time high of $118,287.46 on July 11 and is up 3.3% in the past 24 hours, but major altcoins are leading the gains during the same period. Ethereum (ETH) breached the $3,000 threshold for the first time since Feb. 2, and is currently trading at $2,987.55 as of press time, […]
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Projects tied to Pepe meme creator Matt Furie and the NFT studio ChainSaw lost roughly $1 million to contract takeover exploits last week, according to on-chain investigator ZachXBT. On June 27, ZachXBT reported transaction records showing that the attacker seized control of the “Replicandy” contract at 4:25 a.m. UTC on June 18 by transferring ownership […]
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OpenSea’s rollout of its OS2 platform has driven its highest user growth in over two years, suggesting that the long-dormant NFT market may be flickering back to life. Monthly active users on OpenSea jumped to roughly 467,000 in May, marking a 44% increase from April and the most since April 2023. While sales volumes remain […]
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Singer-songwriter Jonathan Mann recently shared the story of how earning millions in Ethereum (ETH) during a one-hour sale of his NFTs eventually became a “tax nightmare.” Mann has published one song a day over the past 17 years and released his 6,000th song on June 5, which was about the purported nightmare resulting from the […]
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Yuga Labs has proposed dissolving the ApeCoin DAO and replacing it with a new governing body, ApeCo. This would mark a decisive shift in the management structure of one of Web3’s most recognizable token communities. Filed as an AIP proposal on June 5, the plan would sunset the DAO and transfer all major assets, including […]
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Paris Saint-Germain announced on May 29 that the club holds Bitcoin (BTC) on its balance sheet and plans to expand PSG Labs to support companies building on the network. During the 2025 Bitcoin Conference in Las Vegas, a spokesperson revealed that the club shifted part of its cash reserve into Bitcoin in 2024 and still holds […]
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DeLorean will soon begin manufacturing its first car in more than 40 years—and motoring enthusiasts can now purchase build slots in NFT form.
Raoul Pal, CEO of Real Vision and a prominent voice in macro investing, has once again stirred debate in the digital asset space, this time by declaring NFTs the “single best long-term store of wealth.” The comment, made in social media comment screenshotted by the community, followed his broader thesis that currency debasement and exponential […]
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FIFA will migrate its NFT platform to a custom Avalanche-based blockchain, ending its previous ties with Algorand and Polygon.
FIFA will build its EVM blockchain using technology Avalanche L1 and migrate its NFT collection to the new network.
President Donald Trump confirmed that a private dinner will be held on May 22 at Trump National Golf Club in Washington for the top 220 holders of his memecoin, TRUMP. Trump made the announcement in a social media post on May 5. The event, organized by Fight Fight Fight LLC, a Trump-affiliated entity, will admit holders […]
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Marketplace access, community support, and redemptions for the NFT collection will continue through at least 2025.
FIFA's blockchain shift may enhance digital collectible scalability and innovation, impacting user experience and blockchain market dynamics.
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The Shiba Inu price continues to attract the attention of analysts, who are watching for its next potential move. A recent report from Finder, based on the insights of 26 crypto industry experts, reveals a cautiously optimistic outlook for SHIB. Finder, a US-based information service, released a new quarterly report featuring price predictions for Shiba Inu in 2025. The report is based on a comprehensive survey conducted in January 2025, during which 26 crypto industry specialists shared their insights on Shiba Inu’s potential price by the end of 2025 and its projected performance through 2035. Diverging Opinions On SHIB Price In 2025 According to the panel, Shiba Inu is forecasted to reach an average price of $0.0000399 by year’s end, marking an 84.3% increase from its January starting point of about $0.00002165. For its long-term price projection, the panel predicts that the popular meme coin will see a steady rise in the following years, erasing one zero to reach $0.0001971 by 2030 and $0.0008543 by 2035. Related Reading: Bitcoin Analyst Says Shiba Inu Price Is Not Hitting $1 – Here’s Why Gracy Chen, the Chief Executive Officer (CEO) of Bitget, a crypto exchange, is among the most bullish voices among the panelists for the Shiba Inu price outlook. Chen cites SHIB’s positive technical indicators and recent support/resistance developments as signs of an ongoing bullish trend. She projects that the Shiba Inu price could hit a new target of $0.00006 by year-end. This represents 445.45%. Increase from the meme coin’s current market value of $0.000011. Similarly, Ruadhan O, founder of Seasonal Tokens, sees SHIB closing 2025 at $0.00005, though he warns of Dogecoin’s enduring dominance in the space. He believes that Dogecoin will most likely take the spotlight away from SHIB, making it unlikely for it to reach a new all-time high this year. Notably, not all panelists share the same bullish optimism for Shiba Inu. John Hawkins, a senior lecturer at the University of Canberra, projects that the price of SHIB will crash significantly, losing half of its value in 2025, falling to as low as $0.00001. His bearish prediction stems from the belief that meme coins could experience a similar decline to that of Non-Fungible Tokens (NFTs). Hawks points to broader macro trends like US President Donald Trump’s political influence and Bitcoin’s dominance as key barriers that would limit meme coins’ growth. Shiba Inu And Dogecoin Rivalry Continues Despite the majority of Finder’s panelists having significantly bullish projections for the Shiba Inu price, 79% of them agree that SHIB will never surpass Dogecoin in market capitalization. Sathvik Vishwanath, the CEO of Unocoin, believes SHIB’s substantial circulating supply currently and speculative nature limit its long-term bullish prospects. This is despite its rapidly evolving ecosystem, which includes innovative projects like ShibaSwap and the upcoming TREAT token. Related Reading: Shiba Inu Burn Update: 99.44% Daily Burn Crash Could Spell Trouble For Meme Coin When asked whether now is the right time to buy, sell, or hold SHIB tokens, the panel was divided: 57% recommended holding, 13% advised buying, and 30% suggested selling. In addition, opinions on Shiba Inu’s current valuation were mixed. 48% of the panel believed that SHIB was overpriced, while 44% stated that it was fairly priced. Ronen Cojocaru, the CEO of 8081 Inc., was among the most bullish panelists. He forecasted that SHIB could hit $0.00000743 by year-end, although he acknowledged that Shiba Inu is currently overpriced. Featured image from Pixabay, chart from Tradingview.com
Trump's crypto game venture could further legitimize digital assets, influencing mainstream adoption and expanding his digital portfolio.
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Magic Eden is acquiring crypto trading app Slingshot to expand beyond NFTs and challenge centralized exchanges (CEX) with a fully on-chain trading experience, according to an April 9 press release. The acquisition marks a shift for Magic Eden, which built its name as a leading digital asset and NFT marketplace. Now, the company is aiming […]
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Once a hotbed of digital speculation, the NFT space continues to unravel as major platforms back away, including Bybit.
Bybit announced plans to shut down its NFT Marketplace, Inscription Marketplace, and Initial DEX Offering (IDO) product pages to “streamline offerings and enhance user experience.” The exchange is the latest platform to exit a digital collectibles market that has seen demand, trading volume, and user activity sharply decline over the past two years. The closure […]
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