Dogecoin’s (DOGE), which is a meme coin, has gained 14.5% in the past week. The rally was fueled by renewed investor interest for high-risk assets.
According to CoinGecko data, the category of meme coins has risen by 11%, while other tokens, such as Shiba Inu and Pepe, have risen more than 10% in value to recover some losses. In the past seven days, popular tokens SPX6900, FARTCOIN and TOKEN have soared by 70% and 104% respectively.
After a slump of several weeks, meme coin supporters are feeling much more optimistic. However, other analysts in the industry believe the future of tokens is still uncertain. The meme coins will be changing, as they are volatile, refer to news and pop culture, and have a higher volatility than the other tokens.
Joe McCann said, “I’m not sure that you can launch 30 000 tokens per day without a crazy community of users or new members being onboarded.” Unchained: The Podcast. There will be a new iteration, innovation or implementation of how meme coins look. So you need to search for that trading opportunity.
According to CoinGecko, the total market value of meme coins has dropped to $58,7 billion. Comparatively, the dog-themed coins, such as DOGE and Shiba Inu tokens alone More than a $100 billion market capitalization is represented by this figure The 7th of December is a day to celebrate.
Murad Mamudov is an analyst of memes and believes this category holds a lot of potential. It has not yet been widely known.
Crypto trader coin posted that “99.99% haven’t yet heard of SPX6900.” Murad Mahamudov, analyst on X (formerly Twitter). It will be everywhere. “The whole world is going to want to get involved.” “Consider yourself fortunate if you’re here right now.”
Mahumdov, in public, has been adamant about his meme coin theory, Find cults that are passionate about individuals. Patients will receive a reward.
Meanwhile, meme coin protocols continue to innovate.
The popular Solana launchpad has been in use since last week Pump.fun unveiled Its own decentralized exchange The platform (DEX), which launched tokens on the market, is trying to enhance trading and migration experiences for its tokens.
Some platforms have improved the user experience, such as Wasabi Protocol and decentralized exchange platform.
Wasabi is designed for such times, in which you must hedge your bags to earn a profit. “In times like these, users are most likely to benefit from innovations,” Eren told Decrypt.
Eren expects the sentiment towards meme coins, which has declined in part due to the scandal surrounding the LIBRA token to increase over time.
The appeal of memes and trading cultures has always been the ability to create a level playing field, he explained. But recently, celebrity-backed tokens brought back insider games, which robbed value from the community who gave birth to meme coins. The trenches, on the other hand, will eventually learn. “Traders adapt and learn to trade what is interesting for them.
Alon Cohen, the co-founder of Pump.fun noted that his firm has designed a product that is meant to be around for a decade. He also stated that meme coins will continue to exist. Here to Stay
As soon as the majors ceased to go down, the meme coin activity stabilized quickly and is on an upward trajectory.“He said”
James Rubin, Editor
