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Tag: memecoins

  • Aster Explodes After CZ Drops Bombshell: He Owns $2.5M Worth

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    They say journalists never truly clock out. But for Christian, that’s not just a metaphor, it’s a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

    Christian’s journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

    Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling – right up his alley!

    So, he landed a killer gig at NewsBTC, where he’s one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

    Think Christian’s all work and no play? Not a chance! When he’s not at his computer, you’ll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

    Speaking of chill, Christian’s got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

    Here’s the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day – and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

    Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors – and bosses – he deeply respects.

    So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

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    Christian Encila

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  • Melania Trump Used as ‘Window-Dressing’ in Elaborate Memecoin Fraud, Legal Filing Claims

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    A cryptocurrency promoted in January by US first lady Melania Trump was part of a sophisticated fraud that “leveraged celebrity association and ‘borrowed fame’ to sell legitimacy to unsuspecting investors,” a new legal filing has alleged.

    In April, crypto investors brought a federal class action lawsuit against Benjamin Chow, cofounder of crypto exchange Meteora, and Hayden Davis, cofounder of crypto venture capital firm Kelsier Labs, among other defendants, accusing them of a multimillion-dollar fraud involving a single memecoin, $M3M3.

    Later, the plaintiffs filed an amended complaint, expanding the allegations to include racketeering activity. They claimed the pair had colluded to rig the market for $LIBRA, a coin promoted by Javier Milei, president of Argentina, which collapsed in value shortly after launch.

    On Tuesday, the plaintiffs sought the court’s permission to file yet another amended complaint, based on alleged information provided by an anonymous whistleblower. With Chow acting as the “commander,” the pair launched, pumped, and dumped at least 15 crypto coins, the proposed second amended complaint alleges, including $MELANIA. The scheme allegedly inflicted millions of dollars in losses on unwitting investors.

    Trump, who is not a named defendant in the lawsuit, was used as “window dressing for a crime engineered by Meteora and Kelsier,” the proposed second amended complaint alleges. The filing further states that the plaintiffs do not allege that Trump or Milei “operated the scheme.”

    “This case could clarify basic expectations for token launches and disclosures in the US. We understand many across the crypto industry and regulatory community are following closely,” says Max Burwick, senior managing partner at Burwick Law, the law firm representing the plaintiffs.

    The White House, Chow, and Davis did not respond immediately to requests for comment.

    By the time Chow and Davis launched $MELANIA in January, they had refined a “repeatable six-step ‘playbook’ for pump-and-dump fraud,” the investors claim.

    According to the proposed second amended complaint, Meteora controls the technical infrastructure, while Kelsier supplies the necessary capital and orchestrates the promotional campaign, leaning heavily on credibility borrowed from public figures or brands. Together, the filing alleges, they effectively control a network of “sniper” crypto wallets that snatch up large quantities of the coins at artificially discounted prices, then dump them on the market as regular investors pile in.

    “Going to try to tell all my buddies early,” Davis told an acquaintance prior to the $MELANIA launch, in a private exchange that features in redacted form as an exhibit in the lawsuit. “I’m about to launch the biggest token ever lol.” (It’s unclear whether Davis was allegedly referring to $MELANIA or $LIBRA.)

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    Joel Khalili

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  • Trump-Tied Thumzup Raises $50M, Merges Dogecoin Mining With XRP Plans

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    According to a shareholder letter, Thumzup Media completed a $50 million common stock offering at $10 per share and laid out a two-part plan: expand into Dogecoin mining and put selected cryptocurrencies into a corporate treasury.

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    Thumzup Raises $50 Million

    The new cash will help fund a pending acquisition of Dogehash Technologies, a deal that calls for Thumzup to issue 30.7 million shares to Dogehash shareholders.

    Once the transaction closes, the mining firm is set to be renamed Dogehash Technologies Holdings and is expected to trade on Nasdaq under the XDOG ticker. Part of the raised money will buy 1,000 mining machines, company officials said.

    Dogecoin Mining Push

    Reports have disclosed that Thumzup described the mining effort as aggressive. The move ties mining assets and capital markets together in one package. Some details remain unclear.

    For example, the timetable for renaming and listing, and the exact delivery schedule for the 1,000 rigs, were not spelled out in the letter. Still, the plan is in motion and will be watched closely by investors.

    XRP Included In Corporate Treasury

    Beyond rigs and a Nasdaq plan, Thumzup said its board has approved building a diversified crypto treasury that will include XRP. Other assets named were Dogecoin, Solana, Ethereum, Litecoin and stablecoin USDC.

    No firm numbers were given on how much of any token will be held. What was revealed is that this treasury plan follows earlier cryptocurrency buys: Thumzup invested $1 million in Bitcoin in January and then made an additional $1 million purchase later that month.

    Total crypto market cap currently at $3.75 trillion. Chart: TradingView

    Companies Adding XRP To Reserves

    Based on reports from other firms, Thumzup is not alone. Webus International announced a $300 million XRP treasury plan in June. VivoPower, which raised $121 million from investors that include Saudi backers, has also discussed using part of that funding to hold XRP.

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    Trident Digital has said it intends to build a $500 million XRP reserve. Those moves are being watched by market participants because they change how some firms think about holding crypto on their balance sheets.

    Investors will look for three items. First, whether the Dogehash deal closes and the 30.7 million-share exchange is completed. Second, the actual delivery and deployment of the 1,000 mining units. Third, any filings or announcements that show how much crypto Thumzup will place into its treasury and when those purchases occur.

    The company framed its strategy as consistent with US President Donald Trump’s stated support for boosting American crypto activity, a political point that the firm used in the shareholder letter.

    Featured image from Unsplash, chart from TradingView

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    Christian Encila

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  • Trump-Themed Memecoins Rally 30% Ahead Of US Elections

    Trump-Themed Memecoins Rally 30% Ahead Of US Elections

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    Este artículo también está disponible en español.

    Just hours away from the US presidential elections, PolitiFi tokens have seen a remarkable boost. The sector has experienced a nearly 10% surge in the last 24 hours, with Trump-themed memecoins leading the way. Following the recent performance, some investors forecast a massive rally for these tokens in the coming days.

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    Trump-Themed Memecoins See 30% Jump

    The PolitiFi sector gained popularity after several memecoins inspired by US politicians registered a massive performance earlier this year. Some tokens had their market capitalization break above the $100 million mark, with a couple still holding the feat.

    Memecoins inspired by the former US President and Republican candidate Donald J. Trump have led the sector throughout his presidential campaign. The tokens recorded massive rallies this year, hitting their peak during Q2.

    Cryptocurrencies like MAGA (TRUMP) and Doland Tremp (TREMP) hit the $17 and $1.5 marks, respectively, as their all-time high (ATH), fueled by Trump’s crypto-friendly statements. However, most of these cryptocurrencies have retraced significantly since June, pulling back over 70% in most cases.

    Now that the elections are just hours away, the PolitiFi sector is soaring again, surging around 10% in the last 24 hours, while the crypto market sees a 1.5% retrace. Memecoins themed after Trump held their lead, registering green performance during the past day.

    TRUMP has seen a 26% surge in the last 24 hours, trading above the $3.8 range. Meanwhile, MAGA Hat (MAGA) records a 32.6% price jump in the same timeframe, nearing a $90 million market cap earlier today.

    MAGA’s daily trading activity has also increased nearly 30%, registering a $41.7 million trading volume on the last day.

    PolitiFi Tokens In The Hands Of The Election

    The sector’s rally is seemingly fueled by the anticipation surrounding the elections. Notably, volatility is forecasted to peak in the following days as speculation about the election’s outcome increases.

    Some investors believe the PolitiFi token’s rally will continue in the following days, with Trump-themed memecoins expected to skyrocket in case of Trump’s victory.

    Just 10 hours before the election, the Republican candidate’s winning odds are considerably higher than the Democratic nominee, Kamala Harris. Polymarket’s live forecast shows that Trump leads the prediction market with a 15% gap.

    Trump’s winning odds 10 hours before the presidential elections. Source: Polymarket

    Following the presidential debate, the former president lost ground to the US Vice President in early September. At the time, the Democratic nominee surpassed Trump’s winning odds by 4%. However, these have seen a significant retrace in the last month.

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    The Republican candidate regained his lead in October, recording a considerable 33% gap between his winning odds and Harris’. By the end of the month, Trump led the predictions market with a 66% chance of winning, which has now retraced to 57%.

    Amid Trump’s winning odds, the memecoins inspired by the US VP have recorded a considerable decrease in the past day. Kamala Horris (KAMA), the largest Harris-inspired token, retraced nearly 25% in the last 24 hours, seeing a 34% decrease in daily trading activity.

    memecoins, TRUMP, TRUMPUSDT
    TRUMP’s performance in the three-day chart. Source: TRUMPUSDT on TradingView

    Featured Image from Unsplash.com, Chart from TradingView.com

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    Rubmar Garcia

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  • Avalanche Weathers The Storm – Can AVAX Hit $40 Again?

    Avalanche Weathers The Storm – Can AVAX Hit $40 Again?

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    The cryptocurrency market continues to navigate a sea of uncertainty, and Avalanche (AVAX) is no exception. While AVAX has displayed some resilience compared to its altcoin peers, a closer look reveals a market grappling with conflicting signals – a mix of cautious optimism and underlying unease.

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    Bullish Whispers Or A Mirage?

    The future of AVAX remains shrouded in uncertainty. While some positive signs exist, like relative outperformance and pockets of bullish sentiment, they are countered by concerning metrics like dwindling market control and a significant drop in trading activity.

    Avalanche: Resistance Levels Loom Large

    A look at AVAX’s six-month chart reveals a rollercoaster ride, characterized by sharp peaks and troughs. This volatility highlights AVAX’s susceptibility to broader market trends and its dependence on specific developments within its ecosystem.

    Over the past few months, AVAX has exhibited a pattern of price spikes followed by equally sharp corrections. Currently, the altcoin seems to be consolidating around the $38 mark after a recent dip from April’s highs.

    Avalanche is currently trading at $37. Chart: TradingView

    If AVAX can maintain support around the crucial $35 level, there’s a possibility for a northward trajectory, especially if a broader bull run materializes in the cryptocurrency market.

    However, significant resistance awaits at $48 and $53 – price points that AVAX has repeatedly tested and failed to surpass in recent months. A sustained breakout above these levels would signal a significant shift in momentum, potentially propelling AVAX towards the $80 or even $100 mark by the third quarter.

    A Tale Of Two Markets: Where Do Traders Stand?

    The trading scene surrounding AVAX presents a curious dichotomy. Coinglass data reveals a staggering 60% drop in trading volume, signifying a significant decline in market activity. This is further corroborated by a relatively balanced long/short ratio across various platforms, suggesting overall indecision among traders regarding AVAX’s future.

    Source: Coinglass

    However, a glimmer of bullish sentiment emerges from Binance, a prominent cryptocurrency exchange. Here, the long/short ratio skews considerably higher, indicating a potentially more optimistic outlook among individual traders on this specific platform.

    Meanwhile, with a 40% rating on the Fear and Greed Index, the current status of the AVAX market is characterized by neutral mood, indicating that investors have balanced opinions.

    Source: CFGI.io

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    Losing Dominance, Waning Interest?

    AVAX’s struggles extend beyond trading. The altcoin seems to be loosening its grip on market share, with search interest also declining. This translates to a lack of market control and potentially waning general interest – not exactly the recipe for success for a token aiming for significant gains.

    Featured image from Summitpost, chart from TradingView

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    Christian Encila

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  • Tiny Pepe, Big Dreams: Memecoin Explodes

    Tiny Pepe, Big Dreams: Memecoin Explodes

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    Pepe the Frog, once an internet darling turned controversial meme, is making a splashy comeback – this time, in the world of cryptocurrency. PEPE, the memecoin inspired by the amphibian, has seen a meteoric rise in 2024, leaving established giants Dogecoin and Shiba Inu in its dust.

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    From Feels To FOMO: PEPE’s Outperformance

    PEPE recently shattered its all-time high, reaching a dizzying $0.000014. This impressive feat comes alongside a staggering 900% year-to-date growth, dwarfing the gains of Dogecoin (DOGE) and Shiba Inu (SHIB) This outperformance has crypto investors buzzing, with many questioning if PEPE can dethrone the reigning memecoin monarchs.

    Analysts point to a potential shift in investor sentiment. While DOGE and SHIB boast larger ecosystems and dedicated communities, their massive market caps limit their potential for explosive growth. PEPE, on the other hand, sits comfortably in the “mid-range memecoin” category, offering investors the allure of high returns without the baggage of a bloated market cap.

    Can PEPE Maintain Its Momentum?

    PEPE’s recent price surge is backed by some compelling technical indicators. The Bollinger Band analysis suggests bulls remain in control, with PEPE hovering above its key support level. This, coupled with the potential approval of Ethereum ETFs, could fuel another buying frenzy, propelling the coin towards its predicted target of $0.000020.

    Total crypto market cap at $2.5 trillion on the daily chart: TradingView.com

    However, experts caution against blind optimism. Memecoins are notorious for their wild price swings, and PEPE is no exception. A market correction or negative regulatory decisions could easily send PEPE tumbling. Additionally, unlike DOGE and SHIB, PEPE currently lacks a clear roadmap for utility beyond simply being a memecoin. This raises concerns about its long-term sustainability.

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    Is It A Worthy Investment?

    While Pepecoin’s recent surge is undeniably impressive, the road ahead remains uncertain. Investors considering jumping on the memecoin bandwagon should be prepared for a bumpy ride.

    Pepe Coin price forecast based on technical analysis. Source: CoinCodex

    According to latest data, there is a bullish general mood for the coin price prediction, with 86% technical analysis indicators indicating optimistic signs and 14% indicating bearish indications.

    While technical indicators suggest a bullish trend for the memecoin, with high investor interest and recent price gains, some caution is advised. The extreme greed reading on the Fear & Greed Index hints at a potentially overheated market.

    Featured image from Eric Keller, chart from TradingView

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    Christian Encila

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  • PEPE Primed For A Big Leap: 80% Price Increase Incoming?

    PEPE Primed For A Big Leap: 80% Price Increase Incoming?

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    The cryptocurrency market may be experiencing a cool down, but one meme coin is refusing to catch a cold. PEPE, a token emblazoned with the internet’s famous frog, has defied recent bearish trends with a surge in price and trading activity. This resilience has fueled speculation of a potential “bullish breakout” in the coming days, with some analysts predicting astronomical gains.

    PEPE Weathers The Storm

    While Bitcoin and Ethereum have taken a breather in recent weeks, PEPE has exhibited surprising strength. Unlike its more established counterparts, PEPE hasn’t succumbed to the broader market chill. In fact, the meme coin has managed to inch up slightly this week and even enjoyed a nearly 10% price jump in the last 24 hours. This resilience has captured the attention of investors and analysts alike.

    PEPE price action in the last 24 hours. Source: Coingecko

    Trading Frenzy: PEPE Ignites Investor Interest

    The newfound bullishness surrounding PEPE is further bolstered by a surge in trading activity. The coin boasts a 24-hour trading volume exceeding a staggering $1.26 billion, placing it firmly in the spotlight. Additionally, PEPE’s market capitalization currently sits at a healthy $3.23 billion, a testament to its growing presence within the crypto landscape.

    Technical Analysis Paints A Bullish Picture

    Adding fuel to the fire, crypto analyst World Of Charts has identified a bullish flag pattern in PEPE’s recent price action. This technical indicator often precedes a price breakout, suggesting that PEPE might be on the cusp of a significant upward trajectory.

    World Of Charts predicts a potential price surge of 80-90% in the coming days if the coin manages to break free from its current resistance level.

    Meme Coin Frenzy: A Double-Edged Sword?

    Despite the optimistic outlook, a cloud of caution hangs over PEPE’s future. The coin falls under the category of meme coins, a notorious sector within the cryptocurrency market known for its volatility and often lacking strong fundamental backing.

    Total crypto market cap currently at $2.2 trillion. Chart: TradingView

    Unlike established projects with real-world applications, meme coins often rely on community hype and internet trends to propel their value. This can lead to sharp price spikes followed by equally dramatic crashes.

    While the prospect of an 80-90% return on investment is undeniably enticing, experts urge potential investors to approach PEPE with a dose of healthy skepticism. The analyst prediction, while optimistic, should not be taken as financial gospel. The cryptocurrency market, especially the meme coin segment, is inherently unpredictable.

    Featured image from Pexels, chart from TradingView

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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    Christian Encila

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  • After WIF, BONK: Top Crypto Trader Buys These 2 Memecoins

    After WIF, BONK: Top Crypto Trader Buys These 2 Memecoins

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    Memecoins are once making waves in the crypto market. In the last 24 hours, 4 of the 10 best-performing cryptocurrencies in the top 100 are meme coins. The biggest gainers include BONK (+10.2%), PEPE (+4.8%), WIF (+4.7%) and FLOKI (+4.1%). With meme coins slowly regaining, crypto traders are seemingly focusing on lesser-known coins.

    Top Crypto Trader Focuses On These 2 Memecoins

    According to data from on-chain analysis service Lookonchain, the renowned crypto trader known as “paulo.sol” has been making significant moves into new memecoin territories. Paulo.sol, who has previously amassed substantial profits from meme coins like BONK, WIF, and BODEN, is now shifting his focus to acquiring significant stakes in PUPS and POPCAT.

    Lookonchain’s recent posts on X (formerly Twitter) provide a deep dive into paulo.sol’s past and present investment patterns. “What a legend! Paulo.sol has realized profits of $9.51M on WIF, $7.04M on BODEN, and $6.28M on BONK,” Lookonchain tweeted. In total, the crypto trader has made $22 million in realized profits.

    The posts further reveal that paulo.sol bought into BONK early in November 2023, capturing substantial gains as its value surged. “As early as Nov 11, 2023, paulo.sol noticed the rising of BONK and bought BONK. He made ~$6.28M by buying BONK at low prices and selling at high,” the data provider stated.

    The crypto trader continued his strategy by investing in WIF and BODEN in December 2023 and March 2024, respectively, following their sharp price increases. Notably, “paulo.sol did not buy WIF and BODEN when they first went online, but paid attention to and bought heavily when they first rose sharply,” Lookonchain observes.

    As of now, paulo.sol continues to hold 12.87 million BODEN tokens valued at approximately $7.6 million and 1.87 million WIF tokens worth around $5.7 million. However, his most recent activities show a pivot towards new meme coins, PUPS and POPCAT, sparking interest among investors and analysts alike.

    Lookonchain noted, “We noticed that paulo.sol is buying PUPS and POPCAT recently. He spent $1.77M to buy 4.3M POPCAT at $0.42 today. And he has spent $5.97M to buy 101,712 PUPS at $59 since Apr 11, becoming the largest holder of PUPS on Solana.”

    The impact of paulo.sol’s investment has been palpable in the market dynamics of the newly favored meme coins. Despite a general downturn in the memecoin sector, POPCAT’s price surged by 52% today, trading at approximately $0.51 with a trading volume increase of 51% to $166 million. Over the past nine days, POPCAT has risen a whopping 410%.

    On the other hand, PUPS is seeing a price drop of 4.2% today, trading at $36.96, with a 27% fall in trading volume to $2.82 million. Since reaching an all-time high above $152 on April 14 (on Coinex), the PUPS price is down more than 78%.

    PUPS price, 4-hour chart | Source: PUPSUSD on TradingView.com

    Featured image from Binance Academy, chart from TradingView.com

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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    Jake Simmons

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  • Ancient Ethereum Whale With Over 12,000 ETH Creates Noise

    Ancient Ethereum Whale With Over 12,000 ETH Creates Noise

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    The Ethereum market is buzzing after a long-dormant “whale” – a major investor holding a vast amount of cryptocurrency – resurfaced and transferred a significant amount of ETH to the Kraken exchange. This move has sparked speculation about a potential price drop, but wider market trends suggest a more complex picture.

    On-chain analytics firm Spot On Chain has disclosed that the investor, who participated in Ethereum’s Initial Coin Offering (ICO) in 2014, recently deposited 1,069 ETH, valued at roughly $3.56 million, to Kraken.

    Traditionally, deposits to exchanges are seen as a sign of intent to sell, potentially putting downward pressure on the price of ETH.

    This whale’s activity is particularly noteworthy because of their participation in the Ethereum ICO. Back in 2014, they acquired 12,566 ETH at a meager $0.30 per token. The recent transfer represents just a fraction of their holdings, but the sale price – over $3,300 per ETH – signifies a massive profit for the early investor.

    Ethereum Market Shows Signs Of Accumulation

    While the whale’s move might suggest a potential sell-off, on-chain data reveals a broader trend that could offset its impact. According to IntoTheBlock, a blockchain analytics company, the past quarter witnessed a significant outflow of ETH from cryptocurrency exchanges, totaling a staggering $4 billion.

    This movement suggests that many investors are accumulating ETH, potentially anticipating future price increases.

    Ether market cap currently at $409 billion. Chart: TradingView.com

    Dencun Upgrade Fuels Ethereum Network Activity

    The news comes on the heels of Ethereum’s successful Dencun upgrade, implemented in March 2024. The upgrade aimed to address the network’s scalability issues, specifically targeting high transaction fees and slow processing times.

    Early signs appear positive, with IntoTheBlock reporting a surge in activity on the main optimistic rollups (Layer 2 scaling solutions) following the upgrade.

    Weekly transaction volume reached highs of 32 million, indicating increased network usage. While gas prices have risen recently, they were initially significantly lower on many Layer 2 solutions after the upgrade.

    Market Uncertainty Remains

    The combined effect of the whale’s sale, the wider accumulation trend, and the Dencun upgrade’s impact on network activity make it difficult to predict the short-term direction of the Ethereum market.

    While the whale’s sale could trigger a price dip, the broader accumulation trend suggests underlying bullish sentiment. The Dencun upgrade’s success in reducing transaction fees and increasing network usage could further bolster investor confidence.

    Featured image from Pexels, chart from TradingView

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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    Christian Encila

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  • Solana’s Biggest Memecoin Gains $681,000 In 3 Days

    Solana’s Biggest Memecoin Gains $681,000 In 3 Days

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    Dogwifhat (WIF) has emerged as an unlikely hero, defying the odds and wagging its pixelated tail all the way to the top of the Solana meme coin food chain.

    From Humble Beginnings To Sin City Lights

    Dogwifhat, sporting a logo featuring a Shiba Inu sporting a stylish knit cap, started as just another meme coin vying for attention in the crowded digital landscape. However, a recent community-driven fundraising campaign propelled WIF into the spotlight.

    By collectively raising over $680,000, the Dogwifhat faithful secured a prime advertising spot – a giant image of their beloved canine mascot plastered across the dazzling Las Vegas Sphere. This audacious move, fueled by internet enthusiasm and a dash of canine cuteness, sent shockwaves through the crypto-verse.

    As of today, the market cap of cryptocurrencies stood at $2.4 trillion. Chart: TradingView.com

    Memecoin Mania On Solana’s Speedy Blockchain

    Solana, a blockchain known for its blazing-fast transaction speeds and lower fees, has become a breeding ground for meme coins. Dogwifhat exemplifies this trend.

    Unlike its meme coin cousin Dogecoin, which operates on its own blockchain, WIF leverages Solana’s technological prowess. This translates to a smoother trading experience for users, with minimal transaction fees and the ability to seamlessly interact with other blockchain ecosystems.

    Industry experts like Ryan Selkis, CEO of Messari, point to these features as key differentiators for Solana, making it a prime playground for the next generation of meme coins.

    WIF seven-day price ascent. Source: Coingecko

    Dogwifhat: More Than Just A Pretty Shiba Inu?

    The astronomical rise of Dogwifhat has sparked conversations about its potential to transcend its meme coin origins.

    Proponents argue that WIF’s association with the fast-growing Solana network and its focus on community engagement could pave the way for a more substantial role in the world of decentralized finance (DeFi).

    The project itself claims to be “the most sophisticated meme coin ever made,” hinting at potential future developments beyond just viral appeal. However, skeptics remain cautious, highlighting the inherent volatility of meme coins.

    Featured image from Meme Arsenal, chart from TradingView

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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    Christian Encila

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  • Solana Tokens Among Top Gainers: JUP, WEN, And WIF Soar

    Solana Tokens Among Top Gainers: JUP, WEN, And WIF Soar

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    The Solana ecosystem has experienced notable growth, and SOL’s price has turned many experts bullish on it. Similarly, the Solana-based tokens are showing impressive performances during this bull run, with many being among the top gainers in different timeframes.

    Solana Chain Driven By Memecoins?

    According to CoinGecko data, Solana is currently the 5th largest blockchain by Total Value Locked (TVL), registering over 12.8% growth in the past day. During this timeframe, Solana has outperformed its competitors, including Ethereum, which has registered a 2.2% decrease since yesterday.

    In the 7-day and 30-day timeframes, Solana has seen a TVL growth of 35.3% and 89.8%, respectively. As displayed in the chart below, it surpassed the performance of the four chains above it.

    Franklin Templeton Digital Assets shared its perspective on the value of memecoins and their native networks. The financial giant considers that there’s a strong relationship between memecoins and the performance of their native chains.

    In the last year, crypto markets have seen multiple meme coins parabolically surge, most notably, Solana based BONK during Q4 2023. Solana daily active user addresses were up 75% quarter over quarter from Q3 to Q4 2023.

    The asset management firm deems that the connection between the two is further alluded to because “the Solana network captured a large percent of the activity of all the active addresses during the same time that BONK saw a price surge” during Q4 2023.

    According to CoinMarketCap data, the market capitalization of the Solana-based tokens increased by 5.5% from yesterday to over $222.36 billion. The performance of the memecoins seems to have put a notch on the network’s belt.

    Performance Un-like Cats and Dogs

    Tokens in the Solana chain have registered massive performances recently, and the newest tokens around the block (dogwifhat, Wen, Jupiter) continue to shake the crypto market ground.

    Notably, dog- and cat-themed tokens continue to be hot topics in the community. According to CoinGecko Data, the Solana-based Myro, Bonk, and Popcat are trending tokens in their sub-categories.

    Las Vegas Puts Its Hat On

    Since the launch of dogwifhat (WIF), the token has gone from being a “cute dog with a crochet hat on to gathering a robust community seemingly able to back it up.”

    The over $650,000 raised for the “wif on sphere” fundraiser campaign could serve as evidence of the community’s support. As a result of the campaign, the Las Vegas Sphere will display WIF’s icon for a week on the world’s largest LED screen.

    Since the news, the token skyrocketed to a new all-time high (ATH) of $3.36 this morning, representing a 42.3% increase in the last 24 hours. At writing time, WIF changes hands at $3.1, just 4.3% lower than its ATH.

    Space Suit On, Wen Goes To Jupiter

    Jupiter (JUP) recently announced its partnership with the cat-themed token WEN. The latest Jupiter Work Group (JWG) will collaborate with the WEN Work Group. According to the announcement, it “will be focused on contributing awesome vibes and content to amplify crucial Jupiter message.”

    The community seemingly took the partnership positively. After the news, both tokens surged. WEN’s price rose above $0.00040 in the early hours of the day, and it’s currently trading at $0.00038, a 12.5% increase in the last 24 hours.

    JUP propelled to a new ATH of $0.988, almost hitting $1. At writing time, the token is trading at $0.948, representing a 12.8% price surge in the 1-day timeframe. Similarly, its daily trading volume increased over 58%, with $418.04 million being traded in the past day.

    Solana, Crypto market cap, memecoins

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    Rubmar Garcia

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  • Solana’s price rises to $160, highest level since January 2022 as memecoin mania rises | TechCrunch

    Solana’s price rises to $160, highest level since January 2022 as memecoin mania rises | TechCrunch

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    Dogwifhat and politically-inspired tokens of President Biden and Trump also see price spikes


    Jacquelyn Melinek

    7 hours

    The token behind Solana, a layer-1 blockchain that’s competitive with the Ethereum blockchain, has been through the wringer after it plummeted from a high of about $260 to a low around $8 in early 2023. But like every good movie with a character redemption arc, Solana has one too.

    The cryptocurrency passed $160 on Wednesday, marking its highest price since January 2022. It’s the fourth largest cryptocurrency (excluding stablecoins) by market cap behind bitcoin, ether and BNB, in that order, and it’s up 44.8% on the month and about 676% from the year-ago date, according to CoinMarketCap data.

    The blockchain behind the token is well known for its NFT marketplace, which is the second largest by all-time sales volume at $5.2 billion, as well as its decentralized finance (DeFi) ecosystem and more recently, developers’ ability to churn up memecoins on its chain faster than I can write this article. So it’s not surprising that the growth and traction on its blockchain is also being transpired through to its token.

    Since mid-December, a number of Shiba Inu dog-themed tokens on the Solana blockchain like Bonk and dogwifhat have taken off. The two tokens, which try to capitalize on the popularity of the original dog-based memecoin, Dogecoin, are up 150% and 600% on the month, respectively. The dogwifhat community also self-funded about $700,000 in less than four days to get the token shown on the external surface of the new Las Vegas Sphere – and people paid through USDC, the second-largest stablecoin, not dollars, to do it.

    And don’t worry, cat lovers: kitty-themed tokens like Popcat that are also showing crazy gains. For context, Popcat’s price increased 3,205% on the month.

    Bonk and Solana’s web3 smartphone Saga gained more attention after savvy crypto traders realized they could redeem 30 million tokens of BONK, worth between $500 to $800 in December, on the device. At current prices, the 30 million in free BONK tokens is worth almost a grand.

    In recent weeks, a number of politically inspired memecoins on the chain also have gained traction, like jeo boden, doland tremp and the crudely-named elizabath whoren, with market capitalizations of $71.8 million, $47.8 million and $8.8 million, respectively, at the time of publication. (If you’re wondering if I misspelled those tokens based on U.S. politician’s names, I didn’t.)

    Even Coinbase, the largest crypto exchange in America, shared steps on its website how to buy some of these tokens in the U.S., through other avenues off its own platform. In order to trade some of these cryptocurrencies on Solana, users need the native chain’s token to pay a nominal fee, fractions of a penny. (Please note none of this is financial advice, but one of the reasons that could point to Solana’s price increase.)

    Memecoins in general have seen a huge rally as the crypto market continues to thaw from its most recent winter. This, alongside airdrops from projects’ tokens, have sparked interest in Phantom, a crypto wallet heavily used across the Solana ecosystem, which has seen its active user base more than triple in the past year to 3.2 million monthly active users.

    While majority of these tokens have no underlying utility – dogwifhat is literally named after a dog wearing a knitted hat – people are still rallying behind them, arguably in hopes of getting rich quick or because they resonate with the eccentric, tsunami-like communities these assets create.

    But what goes up, often comes down, and the quick rise of some memecoins is often followed often extreme busts, sometimes within days of launching. While some may retain price support for months, as we’ve seen with a handful of tokens, it’s important to consider that not everything that shines like glitter is gold.

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    Jacquelyn Melinek

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  • PEPE Whale Makes $8.13M In Profit As Bullish Rally Continues

    PEPE Whale Makes $8.13M In Profit As Bullish Rally Continues

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    Pepe coin (PEPE) has been showing an incredible performance alongside the rest of the crypto market. This weekend, the two biggest cryptocurrencies, Bitcoin and Ether, displayed remarkable price growth.

    BTC keeps reaching new all-time highs (ATH), and ETH surpassed the $4,000 mark for the first time in two years. Similarly, PEPE joined the party after hitting a new ATH over the weekend, which prompted whales to take profit on their bags.

    Whale Makes Big Profits After Price Surge

    After its launch in April of last year, the frog-themed coin shook the crypto space and the memecoin market, becoming one of the most recognizable memecoins in the sphere.

    Despite the big start, PEPE’s price started fading as the market turned its eyes to competitors like BONK and other Solana-based memecoins. However, the bull run has propelled the market prices to heights unseen since 2022, and PEPE has taken advantage of the bullish momentum.

    As reported by the blockchain analytics platform Lookonchain, a whale made over 431% in profits in just two weeks. The address shows that the trader withdrew over 1 trillion PEPE tokens from Binance in three transactions before the price skyrocketed.

    The first transaction of 713.12 billion PEPE was made 15 days ago when it was trading at around $0.00000138. The second withdrawal, about 316.36 billion tokens, was done a day later when the token price was $0.00000180. Finally, the trader withdrew 116.7 billion tokens one more time when the price was hovering around $0.00000269.

    Lookonchain said these withdrawals accounted for 1.19 trillion PEPE tokens, which cost about $1.88 million. Yesterday, the whale deposited 196.18 billion tokens back to Binance for profits of $1.7 million.

    The address still has 1 trillion PEPE left, worth around $8.13M at the time of the report. At the time of writing, these holdings had increased by over $1 million and were worth $9.13 million.

    As reported by NewsBTC, whales have profited from their PEPE holdings since the memecoin started its resurgence in late February.

    PEPE’s Massive 800% Surge

    Despite the volatile crypto market and whales selling large amounts of PEPE, its community seemingly feels confident in the frog-theme coin and considers it THE memecoin of this bull run.

    Since the memecoin interest surged, Pepe coin has tagged along and shown massive growth. In the last 14 days, the token has registered a staggering 549% price. Even more impressively, the price has risen 799.5% in the past month.

    The token has climbed to the top of the memecoin ranking after flipping tokens like BONK and CorgiAI. PEPE now sits as the third largest memecoin with a market capitalization of $3.85 billion, an 8.41% increase in the last 24 hours.

    Similarly, its daily trading volume has increased by 16.85% to $1.49 billion, suggesting that market activity and interest in the memecoin have surged in the last day.

    At writing time, PEPE is trading at $0,000009135. This represents an 8.5% rise in 24 hours and a 5.95% decrease from its ATH of $0,000009793, registered two days ago.

    PEPE price performance in the 5-day chart. Source: PEPEUSDT on Tradingview.com

    Featured image from X.com, Chart from Tradingview.com

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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    Rubmar Garcia

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  • FLOKI Grows Over 300% As Memecoin Breaches $400 Million TVL

    FLOKI Grows Over 300% As Memecoin Breaches $400 Million TVL

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    Floki Inu (FLOKI), a canine-themed cryptocurrency, has witnessed a remarkable surge in its price, capturing the attention of investors, traders, and enthusiasts alike. The coin’s value has experienced a sharp increase, with the past 24 hours alone seeing a surge of over 50%.

    FLOKI Tallies An Impressive 336% Weekly Gain

    However, it is the weekly timeframe that has truly astounded market observers, as FLOKI recorded an impressive rally of 336%. This surge in price comes on the heels of a community-backed proposal to burn 2% of the token’s supply.

    The proposal to burn tokens was met with overwhelming support from the community, with nearly 90% of votes favoring the initiative. The top voter staked a staggering 117 billion tokens, demonstrating the belief in the long-term security and stability of the Floki project.

    The burn event is scheduled to take place after a seven-day period, and its purpose is to minimize the risks associated with token exploitation and dumping, thereby ensuring the project’s sustainability.

    Social Media Buzz And Positive Sentiment 

    An investigation by NewsBTC has revealed a surge in social media mentions for Floki Inu in recent days, indicating the continued popularity of the meme coin within the cryptocurrency community.

    Moreover, a rise in weighted sentiment suggests that positive views towards the token prevail at the time of writing. This growing social media buzz and optimistic sentiment have played a role in attracting attention to Floki Inu and contributing to its meteoric rise in value.

    Source: Santiment

    FLOKI Total Value Locked Soars

    Meanwhile, Floki has reached a noteworthy accomplishment. Total Value Locked (TVL) across its ecosystem goods has exceeded $400 million. This accomplishment follows the cryptocurrency’s all-time high of $366 million, which showed its quick rise and investor appeal.

    As the crypto market continues to evolve, all eyes remain on Floki Inu and its future trajectory. Market participants eagerly await the outcome of the token burn event and closely monitor the impact of social media trends and cautionary indicators on the coin’s price.

    Total crypto market cap at $2.3 trillion on the daily chart: TradingView.com

    The coming days will shed more light on whether Floki Inu can sustain its current momentum or if a correction is on the horizon.

    Related Reading: Shiba Inu Just Ballooned To 124% – What’s Pushing The Price Up?

    Floki Inu’s recent surge in price, driven by overwhelming community support for a token burn proposal, has captured widespread attention. The coin’s popularity on social media and positive sentiment within the cryptocurrency community further contribute to its rise.

    Featured image from Pexels, chart from TradingView

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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    Christian Encila

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  • BONK Gets Extra 200% Boost To Its 7,000% Value Appreciation

    BONK Gets Extra 200% Boost To Its 7,000% Value Appreciation

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    The price of some digital assets has reached an all-time high due to the recent growth in the bitcoin market. The unprecedented upswing in the cryptocurrency market has not only been good to tokens of decentralized protocols, but also meme coins like Bonk Inu (BONK). Today marked a new high for the token as its price increased by more than 200% in the weekly timeframe.

    Solana’s meme coin Bonk has been on a tremendous bull run for quite some time, with a price increase of over 7,000%, indicating the strengthening of the Solana ecosystem.

    BONK Surges: A Crypto Standout

    November saw a sharp 1,000 surge in BONK’s value, making it one of the most profitable assets in the cryptocurrency market to date. The general upward trend in the cryptocurrency market in the first part of the month is partially the reason for this growth.

    Source: TradingView / BONKUSDT

    The BONK price has consistently produced large bullish candles since breaking out of the bearish trend it had been in since the start of the year. The majority of meme currencies are not moving very much, but BONK is experiencing high trade frequencies that are causing many bull runs.

    Even though there was a slight decline in price, the bulls’ overwhelming domination kept the price above the gains. Considering that the volume has now turned to its advantage, the uptrend should last until the end of the month.

    Based on the technical indications, there is no sign that the bullish momentum will abate anytime soon. At the moment, BONK is experiencing a strong positive trend, with its price hitting an exponential high of $0.0000152. Interestingly, the prior high at $0.0000100 has become a level of support.

    BONKUSD currently trading at $0.00001360 territory on the daily chart: TradingView.com

    The 89th position on the Relative Strength Index (RSI) indicates an overbought zone. Extended green histograms on the Moving Average Convergence Divergence (MACD) indicate a strong bullish trend.

    BONK’s Ascent Faces Resistance Challenges

    BONK will encounter early resistance near its new all-time high of $0.0000133299 if it continues to rise. Above that, the extended Fib -0.236 level at $0.0000156963 and Fib -0.382 at $0.0000171293 are targets for higher moves. Volume is still high, indicating that people are still interested in BONK as it rises.

    BONK seven-day price action. Source: Coingecko

    Meanwhile, some fortunate Solana ecosystem participants stand to gain greatly from the skyrocketing price of the meme coin. Solana gave away $10 worth of BONK tokens when it released its Saga smartphone back in April. Those tokens are now worth over $11,500 because BONK is now over 1,000 times the price since then.

    For those who are still holding onto their BONK airdrops, this has already been a transformative experience. Even in the wildest meme coin theories, gains of over a thousand percent are practically unheard of.

    Furthermore, given the continued growth of the cryptocurrency industry overall, it is possible that Solana and the meme coin community will continue to surprise us in the future given the persistent enthusiasm and risk-taking behavior.

    (This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).

    Featured image from Shutterstock

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    Christian Encila

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