Memecoins based on Sam Bankman-Fried rocketed and then crashed as a U.S. court handed down more than two decades of jail time for the former FTX CEO.
Memecoin News
Memecoins, also known as meme cryptocurrencies or meme crypto, are digital currencies inspired by popular internet memes. Several meme tokens with large market caps boast active communities, such as Dogecoin (DOGE), Shiba Inu (SHIB), which are based on the Doge meme, and PEPE, which was inspired by Pepe the Frog.
So, what is a memecoin? Memecoins are a type of cryptocurrency featuring an internet meme character for its logo. Memecoins may serve a variety of purposes — or none at all — as they are not always the same, but they can still be bought and sold like other digital assets on most centralized and decentralized exchanges.
If you are looking to buy memecoins, do so at your own risk, as they are widely seen as speculative and volatile assets, and trading them is seen as risky.
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DOGE's price surge is driven by increased whale accumulation, X payment platform's license approvals, and heightened interest in the derivatives market.
3332The CryptoPunks collection recorded another $16-million transaction this month as CryptoPunk #7804 sold for 4,850 ETH on March 20.
5431SOL price struggles to rally above $200, but on-chain and derivatives metrics point to a healthy market.
8072DOGE's bullish fractal also gains support from expectations of interest rate cuts, the upcoming Bitcoin halving, and Elon Musk's influence.
9885Solana flipped Ethereum in weekly stablecoin transfer volume as investors chase after yield, airdrops and high returns from the memecoin frenzy.
2293The price of the Boden token went on a wild run shortly after its launch on March 9.
16026The new Polkadot-based memecoin’s Telegram channel amassed over 20,000 airdrop hunters within a few days.
5763An Indonesian man who earned $1 million by selling nonfungible token selfies on OpenSea re-appeared with the second iteration of his NFT project.
12909Iceland’s prime minister reportedly wants to reallocate renewable energy away from crypto miners, a venture capital firm is raising $100 million for crypto startups, and more.
13185It took 203 days for Coinbase’s Base network to notch $1 billion in total value locked but only 25 days to reach $2 billion.
14865Avalanche, which started to dive into memecoins in December, has announced it will use a $100 million fund to buy Avalanche-based community tokens.
2962SOL price faced a setback at the $210 level, but consistent DApp activity suggests traders are not abandoning the Solana network.
9831The wallet added over $1.04 million worth of Shroom coins during the same block when new liquidity was deployed.
9923ETH price fell by 20% in the past week, but futures data shows investors still believe in the bull trend.
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