This year’s strongest sector growth has come from non-serious tokens, and the rally shows no signs of stopping. The Dogwifhat community raised $650,000 to showcase a meme at the Las Vegas Globes. This move led to a 48 percent increase in WIF prices. Other meme coins such as Pepe, Dogecoin, and Mog also saw significant gains. The PoliFi sector revolving around US politicians has seen a surge in tokens such as BODEN and TREMP. Investment managers believe the meme coin craze will continue for a long time due to low fees on platforms like Solana.
Meme coin wind is blowing in the market!
cryptokoin.comAs you follow from , the meme coin industry has had a very strong rally. It has outperformed the broader crypto market in the process. Due to this, a meme coin craze continues to grow in crypto circles. Ethereum and the Solana ecosystem’s leading meme tokens first began gaining momentum in late February as a way to bet on the growth of the blockchain. Meme coins such as Floki (FLOKI) and Shiba Inu (SHIB) rose up to 800% in a short time.
The Dogwifhat (WIF) community managed to raise over $650,000 to put a meme coin image on the Las Vegas Sphere, an entertainment venue with a huge display panel that wraps completely around its dome. That’s why investors are now predicting the “next round” in the industry.
Featured: WIF, BONK, DOGE and others
According to the data, WIF increased by 48% in the last 24 hours, reaching the highest level among its peers. BONK rose 18% following a Franklin Templeton report mentioning the tokens. Pepe (PEPE) increased by 14% and reached the highest level of its life. The original meme coin, Dogecoin (DOGE), saw an 8% increase. Smaller tokens like Mog rose as much as 35%.
PoliFi tokens like BODEN and TREMP, which are misspelled versions of Joe Biden and Donald Trump, rose as much as 300%. BODEN’s rise came about when an auto-generated Coinbase article about purchasing the token went viral on X. PoliFi is a relatively new industry that revolves around US politicians. Since early March, investors have been using such tokens to bet on the victory of the next president.
“Solana meme coin projects can continue the rally!”
Meanwhile, some investment managers are pointing out that the meme coin craze will continue. The users’ hope of making a large amount of profit plays a major role in this. Because many investors dream of multiplying their small amounts of capital. In other words, he is taking a gamble. “This craze will probably last longer than most people think,” said Tushar Jain, co-founder of Multicoin Capital. Past meme coin crazes died out because of Ethereum’s fees. “It doesn’t make sense to wander around the 100s when the wages are in the 100s.” says.
Also, Tushar Jain expects the Solana meme coin craze to last much longer due to low fees. Solana’s ecosystem has witnessed a meme coin craze since December following the rapid rises and success stories of WIF and BONK.
Still, the industry is volatile and ripe for fraud. DEXTools data shows that hundreds of meme tokens with themes ranging from frogs to Spider-Man have been mined by opportunistic developers in the last 24 hours. Many of these lost 100% of their value within hours of launch, causing hopeful investors to lose thousands of dollars.
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