The cryptocurrency world continues to be a whirlwind of activity, with the rise of meme coin projects, established projects making inroads in DeFi, and lesser-known tokens entering the market. Here’s a closer look at some of the highlights…
Meme coin craze left its mark on the market
The list below includes altcoins that have experienced a significant price increase in the last 24 hours. It is noteworthy that these are all meme coins.
- YouTube co-founder supports PAJAMAS: YouTube co-founder Steve Chen has revealed his surprising entry into the memecoin space. Chen explained that his crypto assets consist solely of Solana (SOL) and Pajamas (PAJAMAS), a memecoin inspired by his own cat and the first video uploaded to YouTube in 2005. Although he was not initially affiliated with the project, Chen adopted PAJAMAS after a long time. The coin is currently trading up over 80 percent.
- Notcoin (NOT) defies market correction: Bucking the broader market trend, Notcoin (NOT) has experienced a notable price increase of 40% in the last 24 hours. This increase occurs amidst a period of inactivity and coincides with the growing popularity of Notcoin’s win-win Web3 game hosted on Telegram. The price of the token currently stands at $0.007899 with a market cap of $811 million. Well-known analyst Zen predicts that there will be an uptrend for NOTE in the medium term.
- Floki gains traction: The Floki memecoin project attracted attention once again with a price increase exceeding 23%, reaching $0.0002812. This follows a week of promising developments, including the launch of trading bots designed to increase demand and accessibility for Floki holders. The project also recently implemented a token burn program to reduce the overall supply, a strategy implemented by other successful memecoins such as Shiba Inu (SHIB).
- New meme coin releases: Adding to the Memecoin craze, Pepe in a Memes World (PEW), launched today in the Ethereum ecosystem, has surged more than 144x from its opening price.
- Shiba Inu benefits from KNINE listing: The Shiba Inu (SHIB) community is celebrating a major victory for K9 Finance DAO (KNINE) following its listing on the LBank exchange. KNINE, recognized as the official liquid staking solution for SHIB and the Shibarium blockchain, saw a price increase following the announcement. The collaboration positions K9 DAO as a pioneer in Shibarium’s liquid staking space.
A rising altcoin attracted attention
Besides the above meme coin rises, SEI has risen. In a significant advancement for DeFi, Pyth Network has integrated Pyth Price Feeds and Entropy into Sei V2. This allows developers to equip Sei V2, a parallelized Ethereum Virtual Machine (EVM), with 500+ real-time price feeds and a reliable on-chain random number generator. These features aim to improve the scalability and flexibility of DeFi applications. The Sei V2-specific SEI token subsequently witnessed a price increase of over 8%.
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