The meme coin market faced a sharp sell-off, losing $10 billion in value as PEPE and BONK led the decline with double-digit drops. Frog-themed coins and Solana-based tokens like WIF and Floki were hit hardest, with WIF falling out of the top 100 cryptocurrencies. Even flagship meme coins DOGE and SHIB weren’t spared, dropping 7.8% and 5%, respectively. The broader crypto market also struggled, with Bitcoin and Ethereum declining slightly. Analysts attribute the sell-off to an overheated market and growing investor caution, emphasizing meme coins’ vulnerability during downturns. The slump underscores the high-risk nature of meme investments as correlations with Bitcoin weaken.
about Meme Coin Market Loses $10B as PEPE, BONK Lead Sell-OffMurad Mahmudov
0 posts last week10 Key Trends Shaping the Crypto Market This Week
This week, the crypto market is being shaped by 10 key trends highlighted by Santiment. Bitcoin broke past $100,000, while Ethereum surged to $2,470. Solana is gaining traction with an 18.27% weekly rise and new institutional staking services. Key Opinion Leaders (KOLs) like Arthur Hayes are influencing token prices, while MCP metrics are emerging as vital indicators. The China-US tariff truce has boosted global markets, and terms like ‘holders,’ ‘register,’ and ‘liquidity’ are trending in token analysis. Promotional tactics such as ‘link,’ ‘shoutout,’ and ‘immediately’ are also driving engagement in crypto circles.
about 10 Key Trends Shaping the Crypto Market This WeekMemecoins Surge Amid Economic Shifts and Community Engagement in 2024
Memecoins are experiencing a supercycle in 2024, driven by relatable narratives and equitable distributions amid socio-economic challenges like inflation and job insecurity. With 13 of the top 20 performers being memecoins, their appeal lies in community engagement and lower dilution risks, despite a high failure rate of new tokens. As interest surges, some analysts predict the memecoin market could reach $1 trillion, highlighting both opportunities and risks for investors.
about Memecoins Surge Amid Economic Shifts and Community Engagement in 2024Meme Coin Analyst Predicts Next Dogecoin and Shiba Inu Candidates
Meme coin analyst Murad Mahmudov has identified SPX6900 (SPX) and Gigachad (GIGA) as the next potential Dogecoin (DOGE) and Shiba Inu (SHIB) of the current market cycle. SPX, an Ethereum-based coin, has a market cap of $885 million, while Solana-based GIGA is valued at over $740 million. Despite skepticism regarding their potential, Murad predicts significant growth for both coins by 2025, aiming for market caps of $88.5 billion and $74 billion, respectively.
about Meme Coin Analyst Predicts Next Dogecoin and Shiba Inu Candidates