Tag Archives: Meme coin news

Bitcoin

Iggy Azalea MOTHER Coin Surges 58% On DWF Labs Collaboration Announcement

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The well-known token impressed by Australian singer Iggy Azalea, the Mom Iggy (MOTHER) token on the Solana (SOL) blockchain, skilled a big surge of 58% on Thursday, rising as the highest performer out there, because the meme coin introduced a brand new collaboration with Web3 investor and market maker DWF Labs. 

Iggy Azalea Collaboration With DWF Labs 

DWF Labs, by a sequence of posts on social media platform X (previously Twitter), introduced its strategic partnership with now crypto investor Iggy Azalea, as the corporate just lately signaled a brand new chapter for the corporate, specializing in “subsequent technology” liquidity partnerships to assist crypto tasks. 

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In response to the collaboration, Iggy Azalea revealed that she had loaned her complete MOTHER token holdings to DWF Labs and Wintermute, an algorithmic buying and selling agency specializing in digital property. 

Iggy Azalea’s response to the collaboration with DWF Labs. Supply: IGGY AZALEA on X

By entrusting her holdings to those market makers, Azalea expressed confidence of their experience and talent to extend the token’s stability and finance. One person on social media emphasised the importance of this transfer, highlighting that the founder tokens at the moment are locked, guaranteeing the token’s “unruggable” nature.

Nevertheless, no additional particulars on the collaboration have been offered by both occasion, leaving questions as to how the partnership will doubtlessly enhance MOTHER’s value or its stability within the coming months. 

MOTHER Worth Evaluation

This newest partnership provides to Iggy Azalea’s rising involvement with the meme coin, because the singer unveiled plans in June to revive a telecommunications firm she co-founded, which had an instantaneous optimistic influence on the worth of the MOTHER token, leading to a 27% spike on the time of the announcement. 

Azalea shared her imaginative and prescient of permitting MOTHER and Solana token holders to make use of their tokens to buy telephones or month-to-month wi-fi plans. 

The singer revealed in her assertion that the fee infrastructure for these transactions might be dealt with by expertise firm Sphere Labs, with cellphone companies offered by Unreal Cellular, which led to a value spike above the $0.2300 mark for the meme coin. 

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With the current announcement and the partnership of the meme coin with DWF Labs, the token surged almost 60% within the early hours of Thursday, with the MOTHER token hitting a 5-day excessive of $0.04816. 

Nevertheless, after the preliminary hype surrounding the inception of the meme coin, MOTHER has steadily declined after hitting an all-time excessive of $0.2306 on June sixth, now down 85% from that stage. 

At the moment, the token has corrected to its present buying and selling value of $0.0347, which reveals the volatility skilled over the previous month, whereas the token additionally notes a 16% value drop over the previous seven days. 

Nevertheless, within the potential situation the place the present uptrend continues, $0.0349 would be the subsequent impediment to beat for the meme coin, because it has acted as a resistance wall for the token prior to now week. However, the following assist stage is at $0.286. 

Iggy Azalea
The 1-hour chart reveals MOTHER’s value spike on Thursday following the announcement. Supply: MOTHERUSD on TradingView.com

Featured picture from DALL-E, chart from TradingView.com 

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Solana Meme Coins Outperform Ethereum 800% YTD

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Within the first quarter of the yr, Solana-based meme cash have emerged because the frontrunners, surpassing Ethereum’s meme coin ecosystem and synthetic intelligence (AI) tokens, in line with a latest report by market information platform CoinMarketCap. 

This shift in recognition signifies a change in dynamics inside the cryptocurrency market, with meme cash gaining traction and difficult beforehand dominant narratives corresponding to good contracts, decentralized finance (DeFi), and non-fungible tokens (NFTs).

Solana Ecosystem Dominates Development Chart

The CoinMarketCap report highlights that the Solana ecosystem has persistently topped the expansion chart for the previous eight months, with over 20 new tokens launched in Q2 alone. 

Ethereum’s ecosystem adopted carefully behind with 14 new tokens, whereas Derivatives and Stablecoins witnessed comparatively lesser progress with 5 and 4 new tokens, respectively. This surge in Solana-based token choices signifies a rising curiosity within the community and its potential.

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Solana’s meme coin ecosystem, specifically, has gained important momentum in value efficiency and recognition since October 2023. Though Ethereum stays the dominant blockchain, Solana’s rising prominence suggests a noteworthy pattern within the crypto house.

Apparently, SOL memes have considerably outperformed ETH memes, delivering a median return of 8,469% in comparison with 962% for Ethereum, as seen within the chart under. 

Prime Solana and Ethereum meme cash winners. Supply: CoinMarketCap

As “speculative capital” from different chains rushed into Solana, attracted by the explosive rallies of tokens like dogwifhat (WIF) and Bonk Inu (BONK), extra meme cash skilled value surges, attracting extra consideration and capital. 

The highest winners within the meme coin house embrace the cat characters MEW, POPCAT, and E book of Meme (MEME). These tokens have outperformed even the most well-liked ones like WIF, BONK, Ethereum’s Pepe coin (PEPE), and Shiba Inu (SHIB).

Notably, political memes additionally emerged as a preferred subcategory, with the main MAGA (TRUMP) meme coin gaining over 5100% year-to-date, largely resulting from vocal help for crypto from former President Donald Trump and the acceptance of crypto for marketing campaign donations.

Ethereum Tops Payment Earnings Rankings

Regardless of Solana’s important beneficial properties, Ethereum continues to dominate the Layer 1 (L1) good contracts market, representing 62.11% of the foremost L1s. The report notes that Ethereum’s latest milestone was propelled by the SEC’s approval of Ethereum Spot ETFs. 

Nevertheless, Binance Sensible Chain (BNB) and Solana have additionally gained traction, including $42 billion and $18 billion to their market share amongst L1 networks. Solana at the moment leads with over 1.6 million energetic every day addresses, adopted by BNB with 1 million energetic addresses.

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In Q2, Ethereum skilled document low fuel charges, reaching ranges not seen since 2020 because of the rising adoption of Layer 2 options and the market pleasure surrounding Solana-based meme cash. 

Regardless of representing 62% of the market cap amongst main L1s, Ethereum accounted for 70% of the every day income, producing roughly $2.7 million. Solana ranked second with round $900,000 in every day income.

In accordance to Lookonchain, Ethereum topped the payment earnings rankings previously yr with $2.728 billion, adopted by Bitcoin with $1.302 billion. 

Different notable networks embrace Tron ($459.39 million), Solana ($241.29 million), Binance Sensible Chain ($176.56 million), Avalanche ($68.83 million), zkSync Period ($59.77 million), Optimism ($40.4 million), and Polygon ($23.91 million).

Solana
The 1-D chart reveals SOL’s value volatility skilled previously few days. Supply: SOLUSD on TradingView.com

Regardless of each platforms experiencing success in varied monetary metrics and progress charts, Solana’s native token, SOL, has considerably outperformed Ethereum’s ETH token. 

As of the present buying and selling value, SOL is valued at $143.25, showcasing a year-to-date progress of 650%. ETH has seen a extra modest surge of 68% throughout the identical time-frame, at the moment buying and selling at $3,310.

Featured picture from DALL-E, chart from TradingView.com 

Bitcoin

Pundit Predicts Shiba Inu Competitor Dogwifhat Will Reach $10 Amid Short liquidations

Crypto dealer and analyst Unipcs (Bonk Man) has reiterated his bullish prediction for Dogwifhat (WIF). He made this assertion whereas revealing the sums misplaced by quick merchants because of their bearish sentiment across the meme coin. 

Dogwifhat Headed To $10

Unipcs talked about in an X (previously Twitter) submit that Dogwifhat is “headed to $10” and can by no means drop to as little as $1 once more. He added that the market is presently in a meme coin supercycle, which is why he believes the meme coin can attain such heights. The crypto dealer additionally highlighted how WIF shorts have been “getting squeezed exhausting” and mentioned that is the “means it must be.”

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Supply: X

In addition to Dogwifhat, Unipcs usually has a bullish outlook in the direction of meme cash. He earned a popularity for longing Bonk, one other Solana-based meme coin, with $16,000 in October 2023 and nonetheless holding as on the final time he shared an replace on the commerce. Based mostly on his replace, his unrealized revenue has risen to as excessive as $13.7 million sooner or later. 

Unipcs’s bullishness on meme cash can also be not shocking, contemplating this class of crypto tokens is projected as one of many main narratives in this bull run. It’s also price noting that meme cash Dogwifhat and Pepe (PEPE) are presently this 12 months’s best-performing crypto property among the many high 50 cash by market cap, with year-to-date (YTD) positive factors of over 1,800% and 1,000%, respectively. 

Unipcs isn’t the one one who believes that WIF may rise to $10. One other crypto dealer often called ‘Free’ has additionally reaffirmed on completely different events that the meme coin will nonetheless rise to that worth stage. In the meantime, crypto analyst Bluntz Capital can also be ultra-bullish on Dogwifhat, as he as soon as instructed that the meme coin will flip PEPE and Shiba Inu (SHIB) to turn out to be the second-largest meme coin by market cap, solely behind Dogecoin (DOGE).

This Crypto Analyst Has Different Expectations

Crypto analyst CrediBULL Crypto just lately revealed his bearish expectations for meme cash, together with WIF. He foresees a “meme wipeout,” which might be worse than he initially thought. He added that this incidence would “catch a ton of individuals off guard.” He claimed he would turn out to be a meme coin bull when the time is true, however now is just not the precise time. 

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In a latest video posted on his YouTube channel, CrediBULL Crypto additionally analyzed Dogwifhat. He famous that WIF had considerably moved to the upside, as he rightly predicted in an earlier market replace. Again then, he talked about that he was anticipating the meme coin to rise to $3.8 earlier than it dropped to as little as $1.6.

Nonetheless, in his latest video, he revealed that he received’t be shorting Dogwifhat even when it reaches $3.8. As a substitute, he’ll watch for the meme coin to assert the untapped highs on the $4 vary to validate his bearish expectations. 

On the time of writing, Dogwifhat is buying and selling at round $3, up over 6% within the final 24 hours, in response to knowledge from CoinMarketCap.

Dogwifhat price chart from Tradingview.com (Shiba Inu)
WIF worth at $2.9 | Supply: WIFUSDT on Tradingview.com

Featured picture created with Bulb.io, chart from Tradingview.com