Solana Meme Coin Mania Continues, Coinbase's BASE L2 May Be the Next Big Opportunity For Memecoin In
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Solana Meme Coin Mania Continues, Coinbase's BASE L2 May Be the Next Big Opportunity For Memecoin Investors
Caden Pok
Mon, March 25, 2024 at 8:30 PM GMT+6:30·3 min read
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With crypto booming in 2024, it is not surprising that meme coins have been a huge part of the craze. Older meme coins, such as Dogecoin (DOGE) and Shiba Inu (SHIB) have performed well and led the way, while a host of new meme coins have risen the ranks and are continuing to perform well.
A solid portion of the newest meme coins are coming from the Solana chain. These tokens, such as dogwifhat (WIF), Bonk (BONK) and Book of Meme (BOME) were created recently and have seen huge gains. For example, BOME went from a market cap of $4 million to nearly $1.5 billion within 72 hours of launch.
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These tokens have also been a huge catalyst for Solana (SOL). The project has seen a strong resurgence since late 2022, following the collapse of FTX Trading Ltd. A sizable amount of this revival could be attributed to memes and the volume that they have brought to the token and chain.
These new meme coins have made multimillionaires overnight, causing many to start searching for the next meme coin that could potentially hit it big. Fortunately, Coinbase's Layer-2 solution, called Base, could provide the groundwork for another meme coin wave.
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Base launched in summer 2023 and is a Layer-2 scaling solution for Ethereum. This means that it provides a scalable and easy-to-use development environment for the Ethereum chain. For meme coins, this allows users to create new tokens easily and gives them access to a wide variety of buyers and volume through Coinbase's platform.
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Bitcoin (BTC)
$70,240.00
5.39%
Bitcoin price
eth
Ethereum (ETH)
$3,610.53
5.03%
Ethereum price
bnb
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$592.06
3.33%
BNB price
sol
Solana (SOL)
$190.82
3.73%
Solana price
xrp
XRP (XRP)
$0.64
2.04%
XRP price
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Pepe and Book of Meme see bullish rises as new meme coin ICO hits $8.5M
March 25, 2024 at 2:45 pm
PARTNER CONTENT
Pepe and Book of Meme see bullish rises as new meme coin ICO hits $8.5M
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Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
Amidst a fervent market, Pepe and Book of Meme tokens surge by 4% and 8%, respectively. Dogecoin20, a new presale meme coin, crosses $8 million as its IEO approaches.
The meme coin refuses to back down as Pepe and Book of Meme soar 4% and 8%, respectively.
Meanwhile, the new presale meme coin Dogecoin20 has surpassed the $8 million mark, enthralling market participants as its IEO approaches.
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Dogwifhat pumps over 30%, new ICO Dogecoin20 turns heads
Pepe and Book of Meme climb as renowned analyst dubs memes “new asset class”
The next wave of meme coin excitement looks set to take off as Pepe and Book of Meme embark on a steady upward trajectory.
This is enabled as the broader market acceptance of meme coins grows. Mechanism Capital co-founder Andrew Kang recently called meme coins “the emergence of a new asset class.”
The comment reflects an accelerating sentiment that meme coins are here to stay.
Currently, Pepe is trading at $0.000007579, finding support around $0.000007 after touching from lows of $0.000006 earlier last week.
“The PEPE movement after the two big drops looks very similar. First, you get a big bounce back and then a smaller dip followed by sideways movement. Now we just wait for PEPE to rip into new ATH,” said market analyst Plazma in a recent tweet.
In a follow-up tweet, the analyst predicted a “very hot week,” noting that liquidity was “flooding in” on Sunday night.
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Pepe and Book of Meme see bullish rises as new meme coin ICO hits $8.5M - 1
A similar trajectory is playing out for new meme coin sensation Book of Meme, which sold off after forging its ATH on 16 March.
Similarly to Pepe, BOME created lows last week but has begun recovering, consolidating above $0.013 as analysts anticipate a break to the upside. Currently, it is trading at $0.01346.
Analyst Trader Sam anticipates a move toward its ATH in the coming weeks.
“Still holding well. I’m targeting the green lines,” he said.
Pepe and Book of Meme see bullish rises as new meme coin ICO hits $8.5M - 2
Meanwhile, Team Lambo Charts predicts an explosive breakout toward $0.05, a 271% increase from its current price.
“BOME is waiting for an even bigger breakout here! If we break above $0.0145, targets will be up to $0.05. Easy 3-4x should be locked in on the breakout,” he wrote.
Pepe and Book of Meme see bullish rises as new meme coin ICO hits $8.5M - 3
The blend of a growing market appetite for meme coins, analysts’ predictions, and recent price recoveries sets a bullish precedent for Pepe and Book of Meme looking ahead.
However, these are not the only projects displaying potential. One emerging meme coin contender is Dogecoin20, a trending presale that has raised $8 million in just over one week.
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Book of Meme rises 42% as new memecoin DogWifCat explodes over 2,000%
Trending stake-to-earn Dogecoin20 raises $8.6M
Drawing inspiration from the OG meme coin Dogecoin, Dogecoin20 is a next-generation project with revamped tokenomics and improved utility.
When software engineers Billy Markus and Jackson Palmer jokingly created Dogecoin in 2013, nobody thought it would become a multi-billion dollar sensation, forging a central component in the revolutionary battle against traditional finance.
As such, there are dents in Dogecoin’s armor, criticisms that have been left unaddressed since its inception. Enter: Dogecoin20.
Through its flagship Stake-to-Earn mechanism, Dogecoin20 invites users to compound their $DOGE20, embracing the “Make your money work for you” philosophy popularized by personal finance gurus.
Currently, Dogecoin20 holders can garner a 119% APY, but this will decrease as more tokens are staked.
Following in the footsteps of Bitcoin and other “sound money” proponents, Dogecoin20 aims to stave off inflation and price dilution with a capped supply.
In contrast, Dogecoin holds an unlimited supply, rendering it a suboptimal store of value.
Indeed, these benefits present immense potential for Dogecoin20. However, it also strives to encapsulate Dogecoin’s vibrant essence and “Do Only Good Everyday” philosophy.
As per its whitepaper, the project will proceed with philanthropic efforts and charitable initiatives.
But those looking to buy $DOGE20 must act fast. The price will increase incrementally throughout the presale, with the next uptick in just two days or when it raises $9.1 million.
Read more:
Meme coins dip, Dogecoin20 ICO hits $2.7M in fundraising
Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.
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