Meme coins led by Solana-based dogwifhat surged, outpacing other niches such as DeFi and exchange tokens.

Bets on DOGE-tracked futures jumped to a record $2 billion, and some trading firms warned of a pullback in recent gains as bitcoin and ether price action showed signs of exhaustion.

Meme coins led by Solana-based dogwifhat (WIF) surged for the second day to lead as a category as the broader market remains little changed ahead of the long weekend in the U.S., Europe and parts of Asia.

Bitcoin {{BTC}} traded around $70,000 million during the Asian morning hours on Friday, showing little change in the past 24 hours. Ether {{ETH}}, Solana’s SOL and Cardano’s ADA slid 1%, while Bitcoin Cash (BCH) added 4% to continue its Thursday rally.

The broad-based CoinDesk 20, an index of the largest tokens minus stablecoins, was down 0.56%.

CoinGecko data shows that the meme coin category surged 8% on average, outpacing more serious niches such as decentralized finance, yield farms, and exchange tokens.

Meme tokens started to run early Thursday amid speculations of DOGE being used on an upcoming payments service of social application X, although there has been no official communication from the company.

Bets on DOGE-tracked futures jumped to a record $2 billion, indicative of expectations of future price volatility with a bias toward longs.

Dog-themed tokens such as floki (FLOKI) and WIF jumped as a beta bet to dogecoin. WIF flipped pepecoin (PEPE) to become the third-largest meme token by market capitalization, crossing the $4 mark on Thursday.

Meanwhile, some trading firms warned of a pullback in recent gains as bitcoin and ether price action showed signs of exhaustion.

“The price rally has been exponential in Q1, and there are signs of exhaustion,” Singapore-based QCP Capital said in a Telegram broadcast Friday. “ETH risk reversals are skewed to the downside at -8%, indicating some fear. Funding and forwards remain very elevated, which means that speculators are still paying high prices to keep their leveraged longs.”

“While we remain bullish, we are cautious about leverage,” the firm concluded.

Many people think that meme-based asset price rises are bubbles and speculation. In particular, investors with knowledge of the asset management business have a stronger mindset that the appropriate value of an asset should be based on cash flow, and tend to think that an asset without cash flow is a speculative asset with no intrinsic value.

Of course, there are cases where a valuation method based on cash flow is appropriate depending on the type of asset. However, the dichotomy in which the value of an asset is limited solely to the existence of cash flows and that no cash flows are worthless is a very narrow way of thinking. This can be easily seen through examples around us. The asset class referred to as “alternative investment,” which the asset management industry has been actively incorporating into asset portfolios since the 2000s, includes assets that do not have regular cash flows, such as precious metals and crude oil. Art and expensive wines, which have been used by the wealthy for generations to store their wealth, are also non-cash-flowing assets. If you broaden your horizons just a bit like this, it's easy to see that the sources of asset value are very diverse

A broader discussion of the fair value of assets requires an open mindset that moves away from the binary and one-dimensional approach. As Figure 4 showed earlier, ‘value’ is a subjective and situational concept that is not absolute and objective. Again, for example, art objects or expensive wines, these are culturally based assets. Those who do not share this culture feel no value. This is because value is a social and cultural phenomenon created in human interaction

From this point of view, it is rather natural that meme-based assets have value. The fact that mankind gave value to shells, gold, and silver in the beginning and used them as currency, and the act of some young people in Korea today trading shoes with a specific story at high prices are extensions of the most humane acts that have lasted for at least 10,000 years. It is a common social phenomenon in

BUT! !BE !CAREFULL ! MEME IS ONLY MEME!

#MEMECOINS

Recently, DOGE (Dogecoin), a notable cryptocurrency in the market, caught attention with a 10% daily increase on Tuesday. With its highest daily gain of 10% since April 3rd, DOGE has gained 25% in the last two weeks. The meme-themed cryptocurrency DOGE is believed to be supported by speculations of being used as a payment mechanism, especially during its rebranding process on the Twitter platform.

DOGE's Performance and Speculations:

While cryptocurrencies usually enter an expected calmness during the summer months, DOGE is surprisingly showing a strong performance. Markus Thielen, the Chief Research and Strategy Officer at Matrixport, associates DOGE's rise with Elon Musk's marketing campaign to reinvent Twitter. Musk's efforts to expand the usage of the cryptocurrency and speculations about its use as a payment mechanism could have contributed to the increased demand and price surge of DOGE.

Revival in the Perpetual Futures Market:

DOGE's successful performance has also resonated in the perpetual futures market. According to data tracked by Coinglass, the value of "notional open interest," which represents the locked dollar value with active perpetual contracts, has exceeded $500 million in the last two weeks. The total open interest has also surpassed $6.2 billion, approaching the $6.43 billion peak reached on April 8th. This increase indicates new capital entering the market, strengthening the upward trend.

Funding Rates and Possible Directional Change:

However, it is noteworthy that the open interest-weighted funding rates have dropped close to zero at the moment. This suggests a balance between bullish long positions and bearish short positions. Funding rates determine the cost of holding long/short positions, and positive values indicate a prevalence of bulls, while rates near zero signify a balance between both sides. #MEMECOINS

Conclusion and Future Expectations:

Recent market performance indicates that DOGE might take a temporary break from its upward trend. However, Elon Musk's consistent Twitter posts about cryptocurrencies and his rebranding efforts for DOGE could still have an impact on its price in the future. Market participants can evaluate DOGE's future performance by closely monitoring funding rates and technical analyses. #ElonMusk #TWITTER

In Summary:

DOGE's recent successful performance points to interesting developments in the cryptocurrency world. Nevertheless, as with the overall cryptocurrency market, investors need to exercise caution and make well-informed decisions through proper analysis. Market conditions and news can change rapidly, so it is essential to carefully consider investment decisions. #DogeCoin $DOGE

In the galaxy of token memes that have taken hold in recent months, among scam and non-scam projects, a bizarre token that caught my attention 2 months ago named HUNDRED stands out.

Hundred calls itself an " ANTI-PAPER HANDS " token, why?

When you buy HUNDRED it will automatically prevent you from selling for 100 hours.

For the creator of the token this is the only way to avoid speculation on the price of the token as happen for $PEPE or other meme tokens.

A major innovation could come with a market cap of $1m, currently at $483k.

The development team, states that should it reach that milestone, they would implement a staking section for all meme token holders.

New updates soon!

** NOT FINANCIAL ADVICE**

#Binance #BINANCEFEED #crypto2023 #MEMECOINS

The cryptocurrency world has been constantly attracting attention with new and interesting projects, and recently, "meme coins" have gained significant popularity. Meme coins are generally low-value cryptocurrencies associated with internet jokes and humor. In this article, we will take a look at the stories and popularity of the biggest meme coins, especially Dogecoin, Shiba Inu, Pepe, BONE, and Floki.

Dogecoin: The Originator of Meme Coins:

Dogecoin was created in 2013 as a parody of cryptocurrencies. It took its name from the "Doge" Shiba Inu dog featured in internet memes. Initially created as a joke, Dogecoin surprisingly garnered significant interest and quickly grew in popularity. It has gained a large following, especially with support from social media platforms and celebrities. #Dogecoin $DOGE

Shiba Inu (SHIB): The Doge's Sibling:

Shiba Inu is another meme coin inspired by internet memes, much like Dogecoin. Created anonymously in August 2020, SHIB quickly grew in value to become a significant market cap coin. While it briefly reached high price levels after being listed on Coinbase, it has since stabilized to a more consistent level. #shibaInu $SHIB

Pepe: Cryptocurrency Reflection of a Cartoon Frog:

Pepe may have been overshadowed by Dogecoin and Shiba Inu, but it gained attention with its entry into the market in the spring of 2023. This meme coin, popularizing a cartoon frog, quickly reached a significant market value and then experienced a decrease in value. #PEPE $PEPE

BONE: Governance Token of the SHIB Community:

BONE is a governance token used by the SHIB community on the decentralized ShibSwap exchange. BONE tokens are used to vote on decisions about the exchange's future. Its market value and token price fluctuate based on the community's confidence in the exchange's decisions. #MEMECOINS

Floki: A Meme Coin Focused on NFTs:

Floki is another branch of the Shiba Inu and Doge meme pool. Inspired by Elon Musk's dog, Floki serves as the native currency of an ecosystem focused on NFTs and NFT games. While its market value experiences fluctuations, it still garners significant interest. #FLOKI

Meme coins represent the fun and surprising side of the cryptocurrency world, but investors and cryptocurrency users should consider the volatility and risks that come with such investments. The unexpected value gains of some meme coins like Dogecoin have prompted attention to others. However, it is crucial to remember that cryptocurrency markets are highly volatile, and investments should be managed carefully.

In Summary:

Mme coins represent an interesting intersection of internet culture and the cryptocurrency world. Investors should manage their cryptocurrency investments with careful research and risk assessment. Keeping track of developments in the cryptocurrency markets and making informed investment decisions is always essential for investors.

Good morning, and welcome to "Morning Crypto News." Today, we bring you the latest updates from the cryptocurrency market, where stability prevails despite some noteworthy developments. Let's dive in!

Bitcoin (BTC), Ethereum (ETH), and Binance Coin (BNB), the major players in the crypto space, are experiencing minor oscillations, remaining relatively stable at the start of the day. While market uncertainties loom, these cryptocurrencies continue to hold their ground.

However, amidst this market tranquility, the cryptocurrency community is abuzz with controversial remarks made by Gary Gensler, Chairman of the U.S. Securities and Exchange Commission (SEC). Gensler's recent comments have ignited a heated debate within the industry. He stated, "We don't need cryptocurrencies," opening a free war against the crypto space, criticizing the crypto industry's compliance with regulations, and expressing concerns about the combination of functions seen in crypto exchanges. Gensler drew a hypothetical parallel with traditional finance, citing the New York Stock Exchange operating a hedge fund.

As Gensler's remarks continue to reverberate within the crypto community, the market presents an interesting contrast. While the major cryptocurrencies maintain their stability, it's the meme tokens that are capturing attention with their impressive growth.

Among the gainers of the day in the Binance Top Gainers list, we find notable meme tokens showcasing significant surges with almost 200% up.

While the market remains stable overall, the ongoing debates surrounding cryptocurrency regulations and the growing popularity of meme tokens add an extra layer of intrigue to the crypto landscape. It is essential for investors and industry observers to closely monitor these developments and their potential impacts on the broader market.

That concludes our morning crypto news update. Stay tuned for further updates, follow me, and post your questions here throughout the day as we continue to track the latest trends and events in the dynamic world of cryptocurrencies.

#BTC #Binance #MEMECOINS

Ripple's (XRP) strong performance in the crypto market recently has increased the popularity of memecoins. Particularly, projects like Shiba Inu (SHIB) have attracted investors' attention. However, with Bitcoin falling below $30,000, the momentum in the crypto market has somewhat diminished. Nevertheless, the high trading volume and interest in memecoins continue on the XRP side. The rapid rise and popularity of memecoins like DOGE and SHIB, especially on social media, have been indicators of this interest. SHIB continues to show a positive price performance, but its future price levels remain uncertain.

Price Analysis:

SHIB managed to surpass the resistance level at $0.00000845 with a rebound from the $0.00000695 level, but it failed to hold above these levels and retraced. However, compared to other altcoins, SHIB has largely maintained its value and continues to trade just below the resistance. If we consider that a portion of the trading volume in XRP has shifted to memecoins, it can be said that SHIB may target price levels of $0.00000845, $0.00000919, $0.00001000, $0.00001075, and $0.00001160, respectively. $SHIB $XRP

Risks and Support Levels:

However, if the memecoin craze loses its strength or Bitcoin shows a downward trend, SHIB's price may be affected in a negative direction. In such a case, investors should consider the support levels to watch for SHIB. Significant support levels can be identified as $0.00000775, $0.00000755, $0.00000695, and $0.00000645, respectively. Especially a drop below the $0.00000645 level could push SHIB into the background. #SHIBAINU #MEMECOINS #XRP #SEC

In Summary:

Ripple's high trading volume in the crypto market and the interest in memecoins have increased the popularity of projects like SHIB. SHIB's price shows a positive performance due to high trading volume and investor interest. However, if the memecoin craze loses its strength or Bitcoin shows a downward trend, SHIB's price may be affected in a negative direction. It is important for investors to closely monitor the support levels for SHIB. While the future price levels of SHIB remain uncertain, it is considered a noteworthy asset in the crypto market.

🛡️Disclaimer: This article is intended for educational purposes only. It does not provide investment advice. Cryptocurrency investments, particularly in meme tokens, carry a high level of Always exercise due diligence when investing on platforms such as BNBChain.

In the ever-evolving landscape of Blockchain technology, MEMES have been on the rise with some offering minimal to zero utility until recently.

Firstly let's cover some facts about #MEMECOINS

Facts about meme Coins:

🔶 Social Media Driven: Meme coins typically gain popularity through social media. Examples include Dogecoin, which started as a joke but gained significant attention through platforms like Reddit and Twitter and of course thanks for Elon Musk

🔶 Community Support: A strong, active & engaging community often backs meme coins, contributing to their virality and potential growth.

🔶 Volatility: Meme coins can be extremely volatile, meaning their value can change rapidly in a very short time, making it possible for investors to experience significant gains or losses.

Let's look at Dons as an example:

The $DONS token, which launched on #BNBChain April 12, has captured the attention of cryptocurrency enthusiasts from all over, making substantial strides since its launch.

Having been created by the founders of the largest NFT projects on BNBChain (PlanetZuud & PancakeSquads) with the most loyal #nftcommunity DONS quickly appeared on everyone's radar

The $DONS token's saw its 150 #BNB pinksale allocation sell out within an 20 seconds 👀. This quick uptake propelled the token to the number one trending spot on Dextools, a sign of the heightened interest it had generated.

As the community surrounding the token grew rapidly, the Telegram group garnered over 3500 members in 24 hours, expanding to over 5500 members within a week, with the platform hosting thousands of messages every hour.

The growth was not limited to Telegram; the $DONS Twitter account saw similar success. Within its first 24 hours, the account gained 2000 followers, a number that has since expanded to over 13000. The token has consistently trended throughout the week, amassing over 4 million tweets.

In terms of token holders, the $DONS community has grown rapidly, boasting nearly 11,000 holders at the time of writing this. From a financial perspective, the token's launch day saw an impressive $4 Million trading volume 🔥, contributing to a total trading volume of over $10 Million to date. The market cap made a staggering leap from $80,000 to over $10 Million at its all-time high (ATH). 🚀

The token's trending status was not limited to social media; it also made waves on various cryptocurrency platforms, including Dextools, Dexview, Coinmarketcap, and even Crypto.com. This achievement is a testament to the relentless efforts of the team behind $DONS.

Significant Twitter accounts have recognized and joined the $DONS community, including notable figures such as Eljaboom, Travladd, Wombex, Samy, Kushed, and many more. Does their support add credibility and fuel the momentum behind this project?

To maintain open channels of communication, the team held an Ask Me Anything (AMA) session on twitter, which attracted over 1000 listeners. These sessions provide a platform for sharing future plans and integrations, it also demonstrates the team's dedication to transparency and community engagement.

The $DONS team also worked tirelessly behind the scenes, ensuring smooth integration of the tokens into various databases. Several significant integrations include listings and support from Trustwallet, OKX, Binance, Crypto.com, Coinmarketcap, Coingecko, Safepal, Getdelta, C98, Bitget, and BSCscan.

Renounce or not to Renounce?

Additional noteworthy attributes of $DONS are the 4% reflections rewarded to its holders, contract renouncement, and audit completion, as well as a liquidity lock for a ten-year period. The $DONS team's integrity is well-regarded within the BnB community, which provides an additional layer of trust and security to potential investors.

Is this another fad like Pokemon Cards?

With this kind of hype surrounding Memecoins at the moment Will DONS make it onto the Binance listings? it makes me wonder is this another fad like Pokemon cards or yoyos? (showing my age now) will this engagement continue or will there be something else next week?

I would also like to ask do you think projects should renounce contracts? I am seeing this on nearly every launch at the moment

Remember to always stay safe while investing and thoroughly research any potential investment opportunities.

Are MemeCoins the future?

Let me know your thoughts below 👇

Looking at what Dons has achieved so far along with other tokens such as #floki #pepe and #DOGE it does make me wonder where the future might take us

This is not a paid post nor an endorsement of Dons it is an oversight of one of the many MemeCoins making a huge impact on the #crypto space

The week is starting off on the wrong foot for the crypto industry's second largest meme coin, Shiba Inu (SHIB). The meme coin has seen a dramatic reversal in its burn rate, which at the time of writing has slumped by 96.38%, per data from Shibburn. Within this time frame, just about 4.5 million SHIB tokens had been sent to dead wallets over the past 24 hours.

The poor start to the week was also extended to its price action. At the time of writing, SHIB is changing hands at a price of $0.000008538, down by 1.43% over the past 24 hours. The growth rate for the week has also fallen by 2.80% to showcase slowing sentiment for the token in the short term.

While its short term growth outlook appears bleak, Shiba Inu has promising tendencies to correct its current bearish trend owing to some of the innovations currently developing.

The Shibarium protocol is one of the major Layer 2 protocols that is yet to go live on the mainnet; however, the team behind the protocol are working assiduously to ensure the transition from its current Puppynet Testnet to the mainnet takes place as soon as possible.

Shiba Inu and projected trend reversal

As one of the most volatile digital currencies, there is arguably no growth pattern that will be permanent, as far as Shiba Inu is concerned.

As such, we can expect there to be a recovery in both the burn rate and the price of the meme coin as the week journeys on. We can use the extent of last week's milestones to project what might be this week and, as such, the SHIB burn rate is expected to beat the more than four billion tokens sent to dead wallets last week, as reported by U.Today.

#SHIBAINU #MEMECOINS #BinanceTournament