Lưu trữ cho từ khóa: Meme coin

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Moo Deng spikes as FOMO pushes holders to a record high

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Moo Deng, the recently launched Solana Pump.fun token, continued rising on Saturday, reaching an all-time high as the fear of missing out set in.

Moo Deng (MOODENG), a hippo-themed token, jumped to a record high of $0.3495, bringing the weekly gains to over 700%. Its market cap has soared to over $300 million, making it the biggest token in the Pump.fun ecosystem.

Moo Deng price chart | Source: TradingView

Moo Deng holders are rising

The rally triggered FOMO, or ‘fear of missing out,’ among traders, as evidenced by the rising number of holders.

Coincarp data shows an uptick in the number of holders — over 24,140. That’s much higher than this week’s low of 9,000. Solscan data shows that the holders have hit 27,000.

There are signs that whales are accumulating tokens. According to Lookonchain, a whale acquired Moo Deng tokens worth over $1.59 million.

The whale now holds Moo Deng tokens worth $3.57 million.

Minting Millionaires

Data by DexScreener shows one trader who bought coins worth $7,172 and made $1 million in profit. Another trader spent $14,000 and exited with a $976,000 profit within a few days. 

However, some traders have missed an opportunity by exiting very early. One of them sold tokens worth $297, which would now be worth over $6.3 million.

Moo Deng’s surge happened as the meme coin recovery accelerated. Most of these tokens have soared by double digits in the last seven days. Dogecoin (DOGE), the biggest meme coin, rose by 15.8%, while Shiba Inu (SHIB) pumped by 35%. 

Popcat (POPCAT), a top Solana (SOL) token, achieved a market cap of $1 billion for the first time, while the total valuation of all of these coins has jumped to over $55 billion. 

Fear and greed index rises

Many investors are embracing a risk-on sentiment after the Fed slashed interest rates and the Chinese government announced a series of stimulus measures.

Central banks in the U.S., Europe, and most Asian countries have slashed rates to prevent a hard landing. Subsequently, the crypto fear and greed index approached the greed zone of 60.

The CNN Money index has risen to the greed area of 68 while the US dollar index has dropped to $100.40.

Crypto fear and greed index | Source: CMC

The risk for Moo Deng investors is that most cryptocurrencies are highly volatile. Typically, when a coin surges, there is always a risk of a harsh reversal. 

For example, Shiba Inu initially soared to a record high of $0.000088 in 2021 and then crashed by over 93% to $0.0000058 in 2022. Dogecoin also soared to an all-time high of $0.4845 and has dropped by 74% to the current $0.1230.

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Theo Crypto News

DeFi

Crypto-native platforms need on-ramps to grow and leap forward | Opinion

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Crypto was once a self-contained industry. The average user only heard about it at the Bitcoin (BTC) price peaks and was reluctant to invest in this new asset class. Those passionate about crypto found their way through with limited options to convert their digital coins into fiat and back.

But those days are gone. As crypto products grow in popularity, many platforms, previously entirely confined to web3, are integrating fiat bridges to open their doors to new users. 

Disruption that doesn’t benefit users 

Imagine a common type of web3 product that wants to disrupt its niche and make its service go mainstream. It describes its solution and how blockchain revolutionizes the traditional way of doing things. Then, it says: connect your web3 wallet and make sure you have enough Ethereum (ETH) to pay gas fees. If you don’t have any, set up an account on a centralized exchange and buy some.

This path is ridiculously long and bumpy for a regular non-crypto user. Centralized exchanges are still the most common way to convert fiat money into crypto, but their cumbersome interface often leaves newcomers feeling dizzy. Even for experienced users, CEXes as a gateway are not always convenient—withdrawing funds to an external platform involves multiple confirmations and extra fees. All of this creates a great deal of friction, complicating the user’s journey into web3.

Why would a DEX need a fiat gateway? 

One could argue that web3 projects aiming to go mainstream and blockchain-native platforms mostly focused on the crypto audience are different—in the sense that crypto protocols don’t really need fiat. For example, decentralized exchanges that let enthusiasts swap various L1 and L2 tokens earned in airdrops, bounty campaigns, and other activities confined to the blockchain realm.

Is that really the case? In practice, that’s not quite so. For instance, Uniswap introduced its fiat-to-crypto bridge back in December 2022 and has since partnered with various providers to expand opportunities for its users. This is a good example of how a DeFi project realized that it couldn’t reach the next level without opening a channel for inflows from the traditional economy. The move also strengthened the project’s value proposition, giving people more opportunities to safely trade in a decentralized environment.

Memecoins are another example. As the memecoin frenzy unfolded in 2024, this asset class became well-known to a wider audience, catching the attention of traditional investors. While many of them turned to centralized exchanges due to a lack of other options, the Shiba Inu (SHIB) memecoin integrated a fiat on-ramp, offering users the ability to purchase the token directly into their wallet. Investors gained an easy way to buy the asset, and the project increased the value and utility of its token.

The efforts of top crypto platforms to integrate on- and off-ramps highlight the user demand. However, they also indicate that the infrastructure for fiat-to-crypto bridges is now ready. Today, setting up an on-ramp can take just a few days using pre-built software that supports dozens of countries, payment methods, and national currencies. Good gateways are fully licensed in many regions, freeing their clients from compliance issues.

Some argue that crypto-native platforms don’t really need fiat bridges because not many people have used them so far. But what if that was the case simply because there were far too few bridges available?

We constantly think of how to make crypto more accessible. But it often doesn’t require us to reinvent the wheel—it’s about removing the friction faced by those who want to use their fiat in the crypto world. There was a time when fiat and blockchain realms barely intersected. However, as they continue to converge, only tighter integration between traditional and digital currencies will facilitate faster adoption of crypto.

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Theo Crypto News

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Floki, Wormhole, Pepe pumps as US PCE inflation nears 2%

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Cryptocurrencies, stocks, and other risky assets received another catalyst on Friday, Sept. 27, after the U.S. government published encouraging inflation data.

US PCE inflation dropped in August

Bitcoin (BTC) held steady above $65,000 while altcoins like Wormhole (W), Floki (FLOKI), Pepe (PEPE), and Shiba Inu (SHIB) jumped by over 15%. Futures tied to the Dow Jones, S&P 500, and Nasdaq 100 rose by over 25 basis points.

Data from the statistics agency showed that personal consumption expenditure dropped from 0.2% in July to 0.1% in August, lower than the expected 0.2%. Year-over-year, it fell from 2.5% to 2.2%, marking the lowest point in over two years.

Core PCE, which excludes volatile food and energy prices, also fell from 0.2% to 0.1% during the month.

These numbers suggest that the Federal Reserve is nearing its inflation target of 2.0%. As a result, the bank will likely continue cutting interest rates in the final two meetings of the year, as the unemployment rate remains above 4%. The Fed had already slashed rates by 0.50% in its last meeting.

Other global central banks, including the Swiss National Bank, European Central Bank, and the Bank of England, have also adopted a dovish tone.

Historically, cryptocurrencies like Bitcoin, Ethereum, and Shiba Inu have performed well when the Fed is cutting interest rates.

In addition, China, the world’s second-largest economy, has opened the floodgates of money. On Tuesday, the central bank reduced a key interest rate and lowered reserve ratios, a move that will unlock over $100 billion to stabilize the stock market. Beijing is also considering delivering over $150 billion in additional stimulus.

Changpeng Zhao release

Bitcoin, Wormhole, and Pepe also rose as crypto investors awaited Changpeng Zhao’s release from custody.

Zhao, Binance’s founder, had been serving a four-month prison sentence as part of his settlement with the U.S. government.

In addition to his sentence, Zhao was fined $50 million and relinquished his role as Binance’s CEO. Binance was ordered to pay $4.3 billion in penalties.

Analysts believe that CZ’s release will lead to more crypto upside. In an X post, Ki Young Ju, the CEO of CryptoQuant predicted that crypto would “skyrocket” when he is released. Another analyst, Adrian Zdunczyk, who has over 600k followers on X predicted that traders will start pumping cryptocurrencies after his release.

Zhao’s release came at a time when sentiment in the crypto market had improved, with Bitcoin entering a technical bull market.

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Theo Crypto News

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LandWolf, Moo Deng surge as Solana DEX volume jumps

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Solana-based meme coins led the charge as the crypto fear and greed index approached the greed zone of 60.

LandWolf (WOLF) and Moo Deng (MOODENG) were the best-performing tokens as they rose by over 112% and 56% on Sep. 27.  WOLF has surged by over 390% from its lowest point this month, bringing its market cap to over $38 million.

Moo Deng has performed even better, skyrocketing by over 1,800% from the September low, pushing its valuation to nearly $200 million.

Other popular Solana (SOL) meme coins have also seen double-digit gains in the past few days. Notably, Popcat (POPCAT) surged, bringing its market cap to $1 billion for the first time.

Their performance coincides with improved sentiment in the crypto market. Bitcoin has jumped from its September low of $52,000 to over $65,000, while the crypto fear and greed index has risen from the fear zone of 34 to 56.

Meme coins often outperform large-cap coins like Bitcoin and Ethereum during bull runs due to their lower prices.

Additionally, data shows that Solana’s decentralized exchange volume has risen by over 32% to $6.3 billion in the last seven days. This volume was largely driven by decentralized exchange platforms like Raydium, Orca, Phoenix, and Lifinity.

Data from Solscan shows that many investors have purchased Moo Deng and LandWolf, which explains their rising daily volume. LandWolf has over 45,000 holders while Moo Deng has accumulated more than 20,000 holders.

One of Moo Deng’s holders was highlighted by LookOnChain, which noted that the trader had converted $1,331 into $3.4 million within 15 days. Another trader bought the token when its market cap was at $70,000, making a profit of almost $392,000. Such statements often lead to fear of missing out, triggering parabolic price moves.

Additionally, Ki Young Ju, the CEO of CryptoQuant, noted that cryptocurrencies were soaring due to the anticipated release of Changpeng Zhao, the founder of Binance.

Other catalysts for LandWolf, Moo Deng, and other cryptocurrencies include Federal Reserve interest rate cuts and massive stimulus measures by the Chinese government.

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Theo Crypto News

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Here’s why Shiba Inu price is soaring

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Shiba Inu made a strong comeback on Sept. 26, soaring to its highest level since July 27, as Shibarium’s fees surged.

Shibarium fees are rising

Shiba Inu (SHIB), the second-largest meme coin, jumped to $0.000017 as on-chain data showed that Shibarium’s fees rose to 438, significantly higher than this month’s low of 27, marking a 1,522% increase.

Shibarium is a layer-2 network launched by Shiba Inu’s developers. A big increase in fees indicates that the network is seeing more activity. Indeed, data from Shibariumscan shows that the number of new transactions rose to 8,025 on Sept. 26 from this month’s low of 2,186.

Shibarium transaction fees | Source: Shibariumscan

Higher Shibarium fees are also significant because part of the collected BONE revenue is converted to SHIB and then burned. Data from Shibburn shows that Shiba Inu’s burn rate rose by 640% in the last 24 hours to 5,555,360 tokens.

Shiba Inu’s surge also coincided with the ongoing meme coin rally. Most meme coins have rallied by over 5% in the last 24 hours, pushing the total market cap to $50.9 billion. Pepe (PEPE) rose by 7.5%, while Mog Coin rose by 14%.

Popcat (POPCAT) has also risen by 15% in the last seven days, pushing its market cap to over $1 billion. Meme coins often exhibit a degree of correlation.

Additional data from Nansen shows that Shiba Inu has had a net outflow of 41 million tokens in the last seven days. As a result, the total supply of tokens on exchanges has moved to 25.48%. Token outflow is a bullish indicator, suggesting that many investors are holding their coins in personal wallets.

Shiba Inu crossed key resistance

Shiba Inu price chart | Source: TradingView

Shiba Inu’s rise was also driven by positive technical indicators. It formed a double-bottom chart pattern and moved above the neckline at $0.000016, its highest swing on Aug. 24.

SHIB also rose above the descending trendline that connects the highest swings since July 16. Additionally, the Relative Strength Index continued rising, signaling that momentum is building.

This price action suggests that the token will continue rising as bulls target the key resistance at $0.00002, its highest level in July.

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Theo Crypto News

DeFi

BABYDOGE surges 120% in 10 days, further gains or correction ahead?

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BABYDOGE rallied over 120% in ten days after Binance listed the memecoin, with upcoming products and features further fuelling bullish momentum.

Based on the Binance Smart Chain, the memecoin has surged 17.6% in the past day and over 120% in the last ten days, now trading at $0.0000000023—levels not seen since April. Over this period, Baby Doge Coin’s (BABYDOGE) market cap soared from $158 million to $357 million, reflecting an influx of investor interest.

Key developments 

Most of this impressive rally was sparked by the Binance listing on Sept. 16, which sent the token soaring nearly 100%, with its price climbing from $0.000000001047 to $0.000000002058 within just a few hours.

Since then, the project has secured listings on centralized platforms like Tokocrypto, ZKE, LBank, and CoinDCX, while also expanding into perpetual trading on HTX Global and Bitrue, along with several decentralized exchange listings, boosting its global presence.

Meanwhile, the project is working on several new offerings under the hood. One of the most anticipated projects is puppy.fun a memecoin launcher rivaling Solana’s Pump.fun and Tron-based Sun.Pump. 

Baby Doge developers are also set to introduce BabyDoge PAWS, the native wallet for the Baby Doge ecosystem.

However, the latest rally in the token came after the project revealed that Binance has added BABYDOGE to its yield-earning offering named ‘Binance Earn.’ 

Within hours after the announcement, the Baby Doge team unveiled BabyDoge explorer, a multichain search tool that will be integrated into all Baby Doge products including puppy.fun and Baby Doge wallet app.

The success and price action of a memecoin is often based on the hype around it and the strength of its community. For Baby Doge, the recent developments have clearly played a key role in sustaining its price rally, as each new announcement and listing added to investor confidence and kept the momentum going.

Social sentiment around the project remains positive at press time, with community members on X and the project’s Telegram group excited about the upcoming launches. This optimism could drive the price higher, particularly given the token’s relatively small market cap, which leaves plenty of room for growth.

Correction soon?

Technical indicators suggest that BABYDOGE is currently on an upward trend, having broken above the upper Bollinger Band, supported by a surge in volume, which is up 393.40% over the past 24 hours. However, the Relative Strength Index at 100 indicates a highly overbought scenario, suggesting a potential correction could be on the horizon.

BABYDOGE Price, Bollinger Bands and RSI chart | Source: crypto.news

Adding to this bearish outlook, BABYDOGE’s weighted funding rate has turned negative at -0.0881, while its open interest has dropped 5% to $580.67k. This dip in open interest signals reduced market participation and hints at a shift in trader sentiment towards bearish positions, possibly anticipating a pullback.

Currently, the memecoin is trading between the support level of $0.000000001586 and resistance at $0.000000002738. 

If buying pressure continues and the price breaks through the resistance, we could see a push toward new highs. However, if the price fails to hold the support level, especially with the RSI indicating overbought conditions, a correction could potentially drive the price lower.

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Theo Crypto News

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Hoppy meme coin hits 2-month high as holders jump

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Hoppy, a popular Ethereum-based meme coin, surged to its highest level in over two months as the number of holders increased.

Hoppy (HOPPY) rose for two consecutive days, reaching a high of $0.00012, its highest level since July 23. 

The rally mirrored the performance of other meme coins. Shiba Inu (SHIB), for example, has risen by 15% in the last seven day, while other meme coins like Dogwifhat (WIF) are up by more than 40% in the same period.

This performance has been triggered by Bitcoin’s (BTC) rebound, which has seen it rise from $52,000 earlier this month to $64,000. Meme coins tend to perform well when Bitcoin and Ethereum are rising.

Meanwhile, the number of Hoppy holders has been on a strong uptrend over the past 30 days, increasing from 13,200 on Aug. 25 to 13,852.

Hoppy holders | Source: Coincarp

Unlike most meme coins, Hoppy’s holders are relatively diverse, with the top ten holders owning 24% of all tokens. The top 100 holders control 54% of all tokens, according to Coincarp. 

Meme coins, when traded wisely, have become some of the most popular wealth generators this year. For example, data from Nansen shows that a trader who spent $9 buying Hoppy in July has gained $6,500. That same trader now has over $673,000 in unrealized profits.

Hoppy has more upside

Hoppy price chart | Source: TradingView

There are signs that Hoppy has further upside potential. It formed a double-bottom pattern at $0.000037 between August and September and has crossed its neckline at $0.000083, its highest point on Aug. 26.

Hoppy has risen above the 50% Fibonacci retracement level and the lower side of Andrew’s pitchfork tool. It has also moved above the 50-day moving average, pointing to more gains toward the 61.8% retracement point at $0.00013.

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DeFi

POPCAT hits all-time high as market cap surges past $1b

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Solana-based memecoin POPCAT hit an all-time high on Sep. 25 as its market cap shot past the $1 billion mark.

At press time, Popcat (POPCAT) was still up 10% over the past day, exchanging hands at $1.02. The meme coin had surged to its all-time high of $1.07 earlier on the day, and almost 60% higher than its weekly low.

Popcat’s recent price surge has pushed its market cap over $1 billion, landing it in the 82nd spot among cryptocurrencies, according to CoinGecko. Its daily trading volume also jumped by 53%, hitting around $136 million.

Meanwhile, the social sentiment around Popcat has been bullish, according to CoinMarketCap data. Following its recent feat, whales have turned their attention to the meme coin, with one investor scooping up $1.3 million worth of POPCAT at $1 on the same day.

A look at Coinglass data shows POPCAT’s open interest is up 13%, reaching its all-time high of $106 million when writing, pointing to a rise in the number of traders that are engaging with the meme coin driving its rally. Additionally, the weighted funding rate has spiked to a record high of 0.0200%, further supporting the coin’s upward momentum.

The surge has propelled POPCAT close to the upper Bollinger Band, which currently sits at $1.0704. This indicates that the asset will soon reach an overbought zone, though it also reinforces the strong bullish momentum in the short term.

POPCAT price, Bollinger Bands and CCI – Sept. 25 | Source: crypto.news

Furthermore, its Commodity Channel Index spiked to 143.81 following the recent rally, a level well above the overbought threshold of 100. Such elevated readings typically signal the potential for an impending correction, urging caution among traders.

If POPCAT continues to gain momentum and breaks above the $1.070 resistance level, it could push higher, with $1.2 as the next psychological target.

In contrast, failure to maintain current support levels could result in a further decline, with the middle Bollinger Band around $0.7482 serving as the first support zone. Traders should be cautious of potential consolidation or heightened volatility around these critical levels.

Popcat’s latest rise is part of a broader rally in cat-themed meme coins. Cat in a Dog’s World (MEW), another Solana-based cat-themed token, saw an 8% gain in the last 24 hours, while Mog Coin (MOG) and Michi (MICHI) climbed 5.6% and 7.4%, respectively.

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Theo Crypto News

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Polymarket: Odds of Iggy Azalea lawsuit rise amid online casino plans

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Rapper Iggy Azalea’s crypto token continued its rebound after she unveiled plans to release an online casino called Motherland.

Mother Iggy (MOTHER) rebounded to a high of $0.0950, up by 180% from its August low. This recovery has brought its valuation to over $88 million.

Part of the surge can be attributed to Azalea’s decision to launch Motherland, an online casino that will use her token for transactions. The casino, set to launch in November, will feature games like blackjack, roulette, and poker.

This initiative is part of her strategy to ensure that the MOTHER token is not just another meme coin. Azalea hopes to give it more utility, including enabling users to purchase phones and monthly plans.

However, MOTHER and other celebrity tokens remain significantly lower than their levels a few months ago. MOTHER has dropped by 63% from its highest point this year.

Similarly, Andrew Tate’s (DADDY) token has plunged by over 74% from its record high, while Caitlyn Jenner’s (JENNER) has slumped by over 96%, giving it a market cap of just $170,000. All celeb tokens tracked by CoinGecko have a market cap of $92 million.

Meanwhile, Polymarket users have raised their odds that the U.S. government will bring charges against Azalea. Odds of her being charged rose to 25%, the highest level since July 28, and up from this month’s low of 8%.

Odds of Iggy Azalea lawsuit rise | Source: Polymarket

Celebrities have been charged in the past for promoting cryptocurrencies. In 2022, Kim Kardashian paid $1.26 million to the Securities and Exchange Commission on allegations that she touted the EMAX token. The SEC also fined Floyd Mayweather and DJ Khaled for launching initial coin offerings.

MOTHER is forming a cup and handle

MOTHER price chart | Source: TradingView

The MOTHER token has bounced back and crossed the 25-day Exponential Moving Average. It has also risen above the weak stop-and-reverse point of the Murrey Math Lines at $0.0855.

Additionally, there are signs that it is forming a cup and handle chart pattern, a popular bullish indicator. It has also established a triple-bottom pattern at $0.033, while the Average Directional Index has risen to 34, indicating a strong trend.

Therefore, the MOTHER token is likely to continue rising ahead of the Motherland casino launch in November.

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