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All eyes are on the meme coin market as projects across various blockchains begin to explode.
From Ethereum to Avalanche to the Bitcoin Network, meme coins are significantly outpacing other project types.
Bonk Rises After Binance and Coinbase Listings
Solana-based meme coin Bonk recently attained listings on Binance and Coinbase, attracting liquidity inflows upward of $1 billion at its peak.
While the crypto retraced shortly after the euphoric pump, Bonk still holds a $1.2 billion market cap, almost 50% higher than before the tier-one exchanges listed it.
It is priced at $0.0000212, down 13.5% today but up 82% this week and 725% this month.
But its recent pullback is not a cause for concern according to crypto analyst MOON, who believes that Bonk is forming “an ascending triangle up against a massive parabolic curve” and suggested that this is highly bullish.
While Bonk’s price has retraced deeper since the tweet, it remains inside MOON’s support zone, but holding above is crucial for its mid-term price action.
Shiba Inu Pumps After 8.6B SHIB Burned
Shiba Inu has added over $1 billion to its market cap in one day after 8.6 billion SHIB were burned.
The SHIB tokens were generated as transaction fees on the Shibarium layer 2 network, and the process of burning them has removed them from circulation, reducing Shiba Inu’s circulating supply.
Shytoshi Kusama, Shiba Inu’s lead dev, took to X to announce that a significant amount of SHIB will be burned alongside other cryptic references in a recent thread.
The dev envisions Shiba Inu going “from memes and lore to moving onto a global standard that can easily support the technology all of us are building for the betterment of the world.”
Data from Shiba Inu’s token burn portal, Shibburn, shows that 8.6 billion SHIB have been burned today.
The data caused a massive boost in price, with Shiba Inu jumping almost 20% after the news broke. It has retraced since but remains up 3.3% in the last day.
GambleFi Presale Meme Kombat Strikes $3.6M
Trending presale Meme Kombat surges past $3.6 million after prominent analyst Jacob Bury backs it to 10x.
Bury referred to it as the “next Pepe coin,” highlighting its spectacular use case and extensive security efforts as to why it could explode.
The presale has been in tall order, with investors rushing to get in at the lowest price. The presale is currently priced at $0.246, but this will incrementally increase throughout.
Meme Kombat is a compelling GambleFi utility token cross meme coin with various ways for users to earn crypto.
Firstly, it boasts a thrilling battle arena where users can watch and gamble on AI-generated fights between prominent meme coin characters. Users require the $MK token for gambling, providing a steady and predictable demand stream that could equate to long-term potential.
It also features a staking mechanism with a 244% APY, but this will decrease as more tokens are staked.
Lastly, traders can earn through the speculative lure, from which Meme Kombat and other meme coins benefit. However, considering its early stage, expert backing, and multiple utilities, Meme Kombat stands out as a better alternative to other meme projects.
Avalanche’s Premium Meme Coin Coq Inu Climbs 200% This Week
Following the explosive rise of Solana’s Bonk, trend-savvy traders have begun searching other emerging blockchains for meme coins that could explode next. One on the top of the list was Coq Inu, Avalanche’s premium meme coin.
Like Solana, Avalanche has experienced notable success recently, pumping over 100% this month.
Consequently, liquidity has cycled down its ecosystem, causing Coq Inu to explode. Currently, COQ is up 207% this week with a $93 million market cap.
It has also secured a place on CoinMarketCap’s trending list, illustrating significant hype and community interest.
Analyst Nyce believes the project has lots of untapped potential, reaching a $100 million market cap without any tier-one exchange listings.
“We tapped $103M market cap yesterday… And still not a single Cex listing,” said Nyce on X.
1000SATS Takes the BRC-20 Lead
In an unwitting turn of events, the Bitcoin Network has also become a hotbed for meme coins and NFTs thanks to the rise of BRC-20 tokens. Currently, the largest BRC-20 token by market cap is 100SATS, a project enabling users to inscribe data onto Bitcoin blocks.
The project has pumped 24% since launching on CoinMarketCap on 12 December and currently holds a staggering $1.59 billion market cap.
However, CoinMarketCap warns that 1000SATS is a meme coin project and that messages are “inscribed by an anonymous team.”
The reason for 1000SATS’ rise is that Binance recently listed the token for trading on its platform.
Since then, it has become the largest BRC-20 coin and climbed into the top 50 cryptos, overtaking formidable players like Render, Algorand, and Aave.
X commentator DeFi PANDA remains highly bullish on BRC-20 tokens, comparing the BRC-20 ecosystem’s market cap to that of ERC-20’s.
Image by Petra Göschel from Pixabay
