Kategorie: Crypto Analysis

Meme coins have done well in the past few months, with most of them outperforming the likes of Bitcoin, Ethereum, and Solana. Tokens like Floki Inu, Dogwifhat, and Pepe have all jumped by more than 300% this year while most big coins have jumped by less than 100%. 

Dogecoin and Shiba Inu lose momentum

There are signs that most traders are focusing on newer meme coins as the biggest ones lose momentum. 

A good example is looking at the performance of pioneer tokens like Dogecoin and Shiba Inu. The two tokens have jumped by over 20% and 30%, respectively while most newer tokens like Dogwifhat and Pepe have more than doubled.

The other way to look at this is their daily trading volume. Data by CoinMarketCap shows that the volume of Dogecoin in the past 24 hours stood at over $288 million while Shiba Inu stood at more than $115 million. These are small numbers considering that these tokens have a market cap of over $17 billion and $9.9 billion.

In contrast, Pepe’s volume in the past 24 hours stood at over $356 million while Dogwifhat had $326 million. The two’s market cap stands at over $4.5 billion and $1.9 billion, respectively. 

Other smaller tokens like Floki, Bonk, and Mog Coin are also seeing higher volume than Dogecoin and Shiba Inu. 

Solciety is doing well

This performance is happening at a time when Solciety’s token sale is doing well. Recent data shows that the Solciety network has raised over $556k in less than a month, meaning that investors are bullish about the network.

Solciety is an upcoming token that hopes to become a leading player in the meme coin industry. Specifically, the developers hope that it will become the leading political meme coin because of its neutrality. 

That is unlike other politically biased tokens like TRUMP and JEO Boden that are biased. Instead, its standout feature, the meme coin generator allows users to create their own memes, share them on social, and then be rewarded. 

The developers are hoping that funds raised in the presale will help them build the biggest meme coin platform in the industry. As part of its tokenomics, Solciety will have 10 billion tokens, 30% of which will be through its token sale and 20% will be used in marketing. The rest of the funds will go to Treasury, Liquidity, and Development.

Solciety joins other networks that have raised millions of dollars in token sales this year. Bitcoin Dogs raised over $13 million in a token sale while BitBot raised over $6 million. You can buy the Solciety token here.

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• Solana rolled out the Blinks and Action feature, allowing users to buy crypto, tip vendors, and transact directly on the blockchain from regular websites and social media apps.
• The Solana Foundations says “Actions” will allow developers to integrate Solana ecosystem transactions into regular websites and apps.

The Solana Foundation, in collaboration with Dialect, an on-chain smart messaging protocol, built “Actions and Blinks” (also called “Actions”), a set of features that allow users to interact with the Solana blockchain directly from a website,  popular social media applications, or QR code.

The feature aims to bring Solana closer to everyday users by allowing developers to integrate virtually all transactions into websites and applications that regular people already use.

Actions and blinks on Solana allow any website and application on the internet to be a distribution point for on-chain interactions – furthering the goal of mainstream adoption,” said Jon Wong, the Solana Foundation’s head of ecosystem engineering.

“From your X feed, you can buy an NFT, tip a creator, receive money, vote, stake, swap, and so much more,” says Chris Osborn, founder of Dialect.

Popular Solana wallets like Phantom and Backpack will immediately support the new features, while others can integrate by following the instructions in the chain’s developer documentation.

Applications like Telegram trading bots, which simplify the on-chain trading process, have been successful and serve as a reference for the viability of features that plug into Web2.

While Solana is not the first to roll out extended blockchain functionality on social media, it is the first to plug directly into Web2 social media.

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• Cryptocurrency prices have crashed hard in the past few weeks.

• The crash happened as Bitcoin supply increases and as hopes of a Fed cut increases.

• BitBot will start its token claim event on Thursday.

Bitcoin and other cryptocurrency prices remained under pressure on Wednesday as investors waited for the next important catalyst. After rising to $62,000, Bitcoin dropped to $60,000, triggering a reversal among most altcoins. Some of the top laggards were the likes of Blur, Mother Iggy, Turbo, and Apu Apustaja.

Why cryptocurrencies are crashing

There are three main reasons why cryptocurrencies are retreating. First, the drop is mostly because there have been no major catalyst to push the coins higher in the past few months. The most important events have already happened this year.

The Securities and Exchange Commission (SEC) has already approved spot Bitcoin ETFs while the halving event has already happened. There are signs that the agency will approve spot Ethereum ETFs soon. 

Second, they have dived because of the ongoing Bitcoin selling pressure. The German government has dumped substantial amounts of Bitcoin in the past few days. Similarly, many exchanges and Mt. Gox have started selling coins. Moves in the Bitcoin market tend to have an impact on other altcoins.

Finally, there are signs that the Fed will be among the last central banks to slash interest rates because US inflation has held quite steady in the past few months. The headline Consumer Price Index (CPI) has remained above 3% and has struggled to move to the Fed’s target of 2%.

There are other reasons why these coins have crashed. Technically, Bitcoin has formed a death cross, which is a popular bearish sign while the volume of Tether transactions has retreated. 

Attention turns to BitBot

Amidst this gloom, investors have turned to BitBot, one of the most popular pre-sale coins in the industry. The developers raised over $4.3 million in its token sale as hopes of its rally continued. 

BitBot will be in the spotlight on Thursday as the developers open the network for claiming. Those who participated in the token sale will be required to first connect their wallets from the BitBot website. They will need to use the wallet they used to purchase the BitBot tokens.

https://x.com/Official_Bitbot/status/1805902031997075804

After that, one will need to click the claim token in BitBot token and then verify their Telegram account. Finally, one will need to complete the claim process by clicking the verification button.

Analysts believe that BitBot has a great future because of what the network promises to do. For starters, BitBot aims to be the biggest Telegram trading bot in the industry. Users will be able to receive quality trading signals and alerts in a non custodial manner. You can find more about BitBot here.

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• New MAGA Puss memecoin launches during intense US election campaign, which some analysts believe could continue to drive viral growth for tokens that tap into political narratives
• New coin aims to follow in footsteps of $TRUMP and $TREMP, which recorded gains of 9,500% and 770% respectively
• $PUSS also taps into cat meme narratives, which have pushed the $MOG memecoin to 8,000% gains and a $500 million market cap.

With the looming US election driving many PolitiFi memecoins to clock up remarkable gains, MAGA Puss ($PUSS) is a new politically-inspired Solana memecoin that aims to tap into these viral narratives in a bid to ‘meow America great again’. 

It launches on Pump.Fun today. 

The PolitiFi token, $TRUMP, recorded gains of 9,500% between January and June of this year, according to data from Coinmarketcap, while its Solana-based political cousin, $TREMP, rose by 770% in less than a month. 

$PUSS taps into the same political narrative – and combines it with the cat meme narrative that has been taking the memecoin space by storm recently.

The $POPCAT token has risen by over 2,600% since January, while $MOG has recorded an even more impressive 8,700% gain in the same timeframe. 

Launch Details

MAGA Puss is set to launch with 100% of its Liquidity Pool (LP) burned, ensuring stability and trust among investors. The token will be listed on Pump.Fun, a platform known for hosting some of the most promising memecoins. 

The LP event on June 26, 2024 marks the official start of MAGA Puss’s journey, aiming to attract a community of patriots who love both cats and Trump memes.

Why Solana?

The choice of the Solana blockchain is a strategic one. 

Known for its speed, reliability, and low transaction costs, Solana provides an ideal platform for a memecoin aiming for rapid adoption and viral growth. To quote the Maga Puss developers, “every good country-loving, god-fearing American can join the MAGA Puss journey, thanks to Solana’s accessible and efficient blockchain”.

So, should you ‘‘Grab ‘em by the $PUSS’’?

It’s certainly worth a punt, because MAGA Puss could see its growth trajectory driven by not one, but two dominant metanarratives at the very same time. It’s well positioned to capitalize on the political fervor of the upcoming US election, even as the viral popularity of cat memes could help it break through potential resistance levels. 

The judge who loosened Donald Trump’s gag order yesterday could also help push this memecoin higher, considering how much Donald Trump enjoys exercising that freedom of speech.

Given those tailwinds, a growing number of analysts are predicting that $PUSS could graduate from Pump.Fun on the first day of trading and reach a market cap of $500,000 in as little as two weeks.

The post “Meowing America Great Again” – This new cat-meets-Trump PolitiFi memecoin launches today appeared first on CoinJournal.

Key takeaways

• Bitcoin briefly dropped below $59k on Monday as Mt. Gox plans to repay some of its clients.
• Solciety has raised $400k in a week as its 30-day presale begins excellently.

BTC slips below $59k as buyers suffer losses

The cryptocurrency market is having a poor start to the week, with Bitcoin and other major cryptocurrencies currently in the red. Bitcoin, the leading cryptocurrency by market cap, lost more than 4% of its value on Monday and briefly dropped below $59k per coin.

The poor performance comes as Mt. Gox announced repayment plans starting in July that could see more than 140,000 bitcoins dumped into the market. Some investors anticipate that the Mt. Gox bitcoins could lead to a decline in Bitcoin’s price. At press time, the price of Bitcoin stands at $60,520.

What is Solciety?

While the general trend of the market has been bearish so far this week, the market is still in a bullish cycle and interesting projects continue to emerge. One project that investors could keep an eye on is Solciety. 

Solciety is a meme coin that seeks to become a leader in the PolitiFi meme ecosystem. According to the development team, Solciety wants to become the very first political party of degens. This meme coin is pegged to the only real-world currency: attention. The project wants to become a platform to spread the degen gospel across the Twitterverse. 

Solciety’s development plans

Although Solciety will launch as a meme coin, it will provide value to investors and users. Solciety will offer the Meme Campaigner, a tool that allows users to create their own meme coins. The tool will also offer users over 200 traits, backgrounds, and fonts.

The development team revealed that the tool can allow users to create and share memes on Twitter to earn points. Users will earn one point for every meme shared, the points will be collected and the top ten users will earn presale tokens.

The Solciety presale has begun and will last for only 30 days. The funds raised from the presale round will be channelled towards developing new tools such as Solciety’s AR. The Augmented Reality tool will allow users to view their weird and wonderful meme creations layered over the real world.

Furthermore, some of the funds will go towards developing Solciety’s AI, which will be launched in the first quarter of 2025. The AI will facilitate natural language programming to autogenerate captions and translate memes into other languages.

Solciety raises $400k in a week

The Solciety presale began a week ago and has already reached an important milestone. So far, the presale has raised $399,588.

The presale would run for 30 days and have ten stages. Early investors enjoyed a heavily discounted price of $0.000963 in the first stage. 

The presale is currently in its third stage, with the SCLTY token going for $0.002222. The SLCTY token’s price will increase every 72 hours, with early investors enjoying an astonishing 125% surge in price before the presale ends. 

According to the project’s tokenomics, the presale offers 30% of the supply with 3 billion tokens available to early investors. Meanwhile, 20% of the tokens have been allocated to marketing and 10% to community rewards and incentive programs. Finally, liquidity will account for 17%.

Should you buy the SLCTY token?

Meme coins have become an important part of the crypto ecosystem thanks to massive adoption by degens. Solana has become home to some of the crypto ecosystem’s leading meme coins and DeFi protocols thanks to its transaction speed, security, and transparency,

By launching on the Solana blockchain, Solciety is leveraging the network’s features to provide unique utilities to its users. SLCTY is launching in a booming PolitiFi ecosystem and could record massive growth as the elections in the United States and some parts of Europe draw closer. 

By allowing users to create their meme tokens and share them on social media platforms, Solciety is promoting quality content creation and encouraging the Degen movement. Its native SCLTY token could become a leading meme coin with the right level of adoption.

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