AdTOKEN6900: The Spiritual Successor to SPX6900 is Here. Presale Live!
AdTOKEN6900: The Successor to SPX6900
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Last week was an eventful one for memecoins as several new memecoins made waves in the crypto community. Let's dive into some of the biggest memecoin news stories from the past seven days.
One of the first stories that popped up last week was some massive whale accumulation in everyone's favorite memecoin, Dogecoin (DOGE). According to data provided by IntoTheBlock, DOGE large holders' inflows increased by a whopping 975% on September 11, with the token's whale outflows plunging significantly. This indicated that whales had started scooping up large amounts of DOGE, absorbing much of the selling pressure.
Some on-chain signals also surfaced showing signs of potential bullishness for DOGE. Its exchange net inflow declined sharply, which usually leads to lower selling pressure. At the time of the news, DOGE was up slightly around $0.10. While still well off its all-time high above $0.70 from May 2021, the whale buys and on-chain data had many DOGE hodlers feeling optimistic that their memecoin might start moving higher after long periods of ranging.
One memecoin that saw significant price action last week was Sundog (SUNDOG). The price of Sundog jumped 25% after a whale purchased $2 million worth of the token.
When a crypto whale makes a major purchase, it often triggers smaller investments from others looking to get in on the action. Such was apparently the case with Sundog last week. With one large buy-in setting the tone, the price rose over 25% as demand climbed.
It wasn't all mooning rockets for memecoins last week. The GameStop-inspired GME token took a tumble, diving over 15% as its corporate namesake GameStop (GME) stock fell sharply after missing Q2 earnings estimates. The sell-off in the retail trader-favored stock brought down its associated memecoin as well, showing how closely correlated some crypto assets can be to real world companies.
Meanwhile, two major new memecoin protocols geared up for their big public entries. Catizen (CATI) inched closer to listing date as major exchanges like Binance, Gate.io, and Bitget prepared to offer trading, while dishing out promotion prizes to lure users. Dogs (DOGS), the Telegram-based meme token, made headlines for amassing a record-breaking 17 million users - the biggest community of any memecoin in history according to reports. Its expansion showed the power of viral adoption through social messaging platforms.
Speaking of Solana, the high-performance blockchain recorded its highest ever daily active address count according to Solana (SOL) tracker Solana Beach, hitting over 1 million users on the chain. This milestone showcased Solana's rising popularity for everything from DeFi to NFTs and, of course, memecoins. As one of the few blockchains capable of handling heavy user loads without congestion, Solana is fast becoming a go-to choice for popular crypto projects of all stripes.
Always on the lookout for the next potential moonshot, crypto traders closely tracked several new memecoin presales and airdrops launching recently. "Green memecoin" EcoChain (ECO) incorporating carbon offsets into its model and aiming to launch November 1. Carbon-negative focus appeals to growing ESGuards.
Elsewhere, moonshot hunter site CoinSniper hosted its regular roster of "quests", incentivizing community engagement for projects through reward structures. New projects are always vying for exposure through platforms attuned to speculative traders' interests.
With so much frenetic activity across the wide world of memecoins, prospective investors may feel overwhelmed wondering where to start uncovering potential gems. Here are some tips for finding the newest and most promising memecoin launches:
By actively researching across these sources, savvy crypto traders can position themselves to potentially get in early on the next big memecoin wave. Of course, thoroughly vetting projects and only investing what you can afford to lose remains crucial advice in the volatile crypto jungle.
Last week served as a reminder of both the inherent volatility but also huge community backing present in the memecoin ecosystem. For those intrigued by the entertaining and lighthearted vibe of memecoins mixed with the opportunity for ludicrous overnight gains, platforms like CoinSniper offer a useful starting point. If you are wondering what happened in the memecoin world last week, coinsniper memecoin news will help you.
Disclaimer
The information on Coinsniper is user-generated and not verified. Coinsniper does not provide financial advice or facilitate transactions.
Also note that the cryptocurrencies listed on this website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments.
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