Lưu trữ cho từ khóa: Meme coin

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Catizen listing date nears as exchanges prepare for launch

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Catizen price is performing well in pre-market futures ahead of the official airdrop scheduled for Sept. 20.

Catizen (CATI) token was trading at $0.51 on Monday on OKX, up by 45% from its lowest level on Sep. 5.

This rebound happened in a difficult time for the crypto market as Bitcoin (BTC) and most altcoins dropped. Bitcoin dropped to $52,558 last week while Ethereum (ETH) fell to a monthly low of $2,150.

Catizen’s token rose as developers confirmed that it will be listed on several high-profile exchanges like Gate.io, Binance, and Bitget. These exchanges have already started running promotions for the airdrop.

Bitget Wallet is offering users a chance to win $20,000 for those who enter the Catizen earn page by Sep. 20. Binance, which has invested in Catizen, has pledged to distribute $300,000 in Fish Coins and MNT to users.

Catizen has become one of the more popular play-to-earn platforms on Telegram, where it has accumulated over 35 million users worldwide. These users earn tokens by playing simple cat-themed games.

In addition, users can make more tokens by participating in simple tasks like joining its Telegram news channel, following it on X, where it has over 2.7 million followers, and making daily purchases in the ecosystem. CATI holders will then be able to redeem them for cash when the airdrop happens later this month. 

Catizen’s challenge, however, is how to maintain momentum after its airdrop, as many Telegram tokens have retreated after beginning to trade. Notcoin (NOT), a popular Telegram tap-to-earn token, has dropped by over 72% from its all-time high. 

Similarly, Pixelverse (PIXFI) has fallen by 93%, while Avacoin has crashed by more than 90% from its record high. Most recently, the DOGS token initially surged to $0.002 after listing but has since crashed by 50% to $0.001.

Catizen’s other challenge will be to avoid the mistakes made by other play-to-earn platforms like Axie Infinity (AXS), Decentraland (MANA), and Gala Games (GALA). Their tokens have dropped by over 80% from their all-time high, while the number of users has dwindled. Decentraland had just 750 unique active wallets, in the last 30 days while The Sandbox had 2,000 users.

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Theo Crypto News

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Trump and Harris crypto tokens in focus ahead of Tuesday’s debate

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Donald Trump and Kamala Harris-themed cryptocurrencies were mixed on Monday, Sep. 9, ahead of a key debate that could influence the outcome of the next general election.

Donald Trump and Kamala Harris debate ahead

MAGA (TRUMP), the largest Trump-themed coin, was down by 2.1% to trade at $3.38. It has risen by 6.3% in the last seven days, giving it a market cap of over $155 million. Doland Tremp (TREMP) has surged by 40% in the last seven days, while Trumpcoin (DJT) has fallen by over 4%.

On the other hand, Kamala Horris (KAMA) token has fallen by 6.6%, bringing its valuation to over $8 million, making it the sixth-biggest coin in the world.

The main catalyst for these politfi coins is Tuesday’s debate between Trump and Harris, which can impact the race. Recent polling data shows that the race is close, meaning that many undecided voters may pick a side after the debate.

A closely watched New York Times/Sienna poll showed Trump leading by one point nationally. In top swing states, the poll—together with that of CBS News—had Harris leading by one point, indicating that the race is virtually tied.

Polymarket, a popular prediction market, shows that Donald Trump has a 52% chance of winning the election. Another poll suggests that Harris will win the popular vote, as Democrats have done in the last few elections.

Trump tokens jumped after his debate with Joe Biden

Most Trump-themed tokens surged after the first Trump and Joe Biden debate on June 27. In that debate, it became apparent that Biden was likely to lose the election to Trump. The MAGA token rose by 18%, while MAGA Hat jumped by over 28%. Doland Tremp rose by 15%.

These tokens then retreated as the market predicted that Democrats might nominate a younger candidate with a higher chance of winning.

Most Trump tokens and other cryptocurrencies are likely to perform well if he wins the debate for two reasons. First, these meme coins are often driven by hype among market participants.

Second, Trump is viewed positively in the crypto community. He owns cryptocurrencies worth over $5.76 million, has called for the government not to sell its Bitcoin (BTC) holdings, and is supported by crypto fans like Elon Musk and Tyler Winklevoss. 

Harris, on the other hand, is said to favor Gary Gensler as Treasury Secretary and has not delivered a specific crypto policy. Elizabeth Warren, one of her supporters, has called for more crypto regulations.

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Theo Crypto News

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GME and KITTY tokens form God candles but gains could be brief

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The GME crypto token formed a God candle on Sep. 6 after Roaring Kitty made a surprise return to X ahead of GameStop’s earnings.

GME (GME) surged to a high of $0.0052, its highest swing since June 24, and 93% above its intraday low. It has risen by 168% from its lowest level in August, making it one of the best-performing cryptocurrencies in the market. Its market cap jumped to over $32 million.

GameStop’s stock also rose by over 3.7%, even as a sea of red spread in the market, with the Dow Jones and Nasdaq 100 indices falling by 0.90% and 2.43%, respectively. Bitcoin (BTC) dropped to $53,000 while the market cap of all coins fell below $2 trillion.

This performance happened after Keith Gill, popularly known as Roaring Kitty, returning to X, sending the post below. The thinly traded Roaring Kitty (KITTY) token also formed a God candle, rising by over 65%. A God candle is a sudden bullish candlestick that catches traders off guard.

Gill is one of the more popularized traders due to his role in the meme stock frenzy in 2021. Most recently, in May, he returned to the market, pushing meme companies like GameStop, AMC, and Faraday Future sharply higher.

Gill’s return is notable because it happened as GameStop prepares to publish its financial results on Sept. 10. Analysts have low expectations for the company as its business continues slowing down. The average estimate among analysts is that its revenue dropped from over $1.1 billion in Q2’23 to $895 million this year.

The company is facing major headwinds as more gamers opt to buy games and consoles online and as operations costs rise. 

It remains unclear whether the GME and KITTY tokens will sustain the ongoing rally. Historically, such gains have been short-lived. In May, the GME token rose from $0.0035 to $0.029 after Roaring Kitty’s return, only to erase all those gains within a few days. It dropped to a record low of $0.0017 in August.

Similarly, KITTY surged to $0.093 amid the hype and then fell by almost 100% to a low of $0.0013 in August. 

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Theo Crypto News

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Here’s why the DOGS token is rising as cryptocurrencies sink

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DOGS token rose for the third consecutive day as most cryptocurrencies retreated after the U.S. jobs report reignited recession fears.

DOGS (DOGS), which recently launched its airdrop, rose to a high of $0.0011, up by 16.5% from its lowest point this week. Still, it remains 33% below its all-time high.

Its rally was notable because Bitcoin (BTC) and most altcoins continued to fall. Bitcoin dropped below $54,000 for the first time in a month, while Solana (SOL) fell below $130. The total market cap of all cryptocurrencies dropped to $1.92 billion, and the crypto fear and greed index fell to the fear zone of 30.

The DOGS token rally was supported by increased volume in the spot and futures markets. Data shows that its futures open interest rose to $124 million, its highest point since Sep. 3. Additionally, volume in the spot market jumped to $541 million, its highest level since Aug. 31.

The most likely reason for the rally is the ongoing Binance Carnival, which is offering traders 40 million DOGS and 5 million NOT tokens for participating. The event, where users are depositing and trading the tokens’ futures, will end on Sep. 17. 

This carnival likely explains why the DOGS open interest in the futures market on Binance has risen. $55 million of the $124 million in open interest was on Binance, followed by Bybit and Bitget. Binance also accounted for most of the volume in the spot market.

DOGS also rose as other tokens in the TON Blockchain gained after Pavel Durov delivered his first statement following his arrest. Toncoin (TON) rose by 1.67%, while Notcoin jumped by over 2%. In his statement, Durov expressed surprise at the arrest and mentioned that Telegram has an official EU representative handling law enforcement requests.

Durov, Telegram, and TON’s founder, was indicted for allegedly facilitating illegal activities on the app, which is used by over 900 million users. He was also accused of not responding to France’s law enforcement officials and now faces 10 years in prison.

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Theo Crypto News

Altcoin

Neiro on ETH price doubles as crypto dump unfolds

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It was a sea of red in the crypto and stock markets on Friday, Sep. 6, as the market reacted to the mixed U.S. nonfarm payrolls report.

Bitcoin (BTC) crashed to $53,000, its lowest point since Aug. 7 while AAVE (AAVE) and Near Protocol (NEAR) fell by over 4%. 

The same sell-off occurred in the stock market as the Nasdaq 100, Dow Jones, and S&P 500 indices fell by over 1%. The tech-heavy Nasdaq 100 and the small-cap-heavy Russell 2000 indices were among the worst performers. Popular technology companies like Tesla, Nvidia, and Broadcom fell by over 5%.

On the other hand, Neiro on ETH (NEIRO), a relatively new meme coin, was the best-performing asset as the Black Friday sell-off continued. Its token jumped by more than 100% to a high of $0.176, its highest swing since Aug. 5. 

It has surged by more than 538% from its lowest point this week, giving it a market cap of over $147 million. This rally occurred as the token went viral on social media, becoming the most shared token on X.

Neiro on ETH also jumped after Binance launched its USD-margined perpetual contracts. Data compiled by CoinGlass shows that the token’s open interest surged to a record high of $35 million. This open interest was mostly from Bybit, meaning the figure could increase when Binance is fully integrated.

In most cases, tokens tend to see more activity after being listed on Binance and other tier-1 exchanges. However, these gains are often short-lived as the market adjusts to the new normal. For example, Pyth Network surged after its Binance listing in February, only to drop to a record low this month.

The other risk for Neiro on ETH is that Bitcoin is about to form a death cross pattern, which could lead to further downside. Most altcoins tend to drop when Bitcoin is underperforming.

Still, a potential catalyst for Neiro and other coins is the weak jobs report, which could prompt the Federal Reserve to cut interest rates, a historically bullish signal.

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Theo Crypto News

DeFi

Helium top gainer of the week, cat-themed tokens lead meme coin gains

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Helium, Solana’s top Decentralized Public Infrastructure Network, outpaced the broader altcoin market in the last seven days, with cat-themed meme coin Simon’s Cat also leading with double-digit gains.

According to price data from crypto.news, Helium (HNT) has jumped 27.6% from its lowest point of $6.66 on Aug. 30 to an intraday high of $8.5 on Sep. 6, a level not seen since March 12, 2024. Over the past seven days, Helium has soared by more than 17.3%, positioning HNT as the top gainer among the 100 largest cryptocurrencies by market value.

Meanwhile, the total crypto market valuation has decreased by 3.5% in the last 24 hours, settling at $2.05 trillion. Bitcoin declined by 2.2%, and Ether saw a 2.3% drop.

Helium’s weekly bullish momentum aligns with the continued growth in its mobile subscriber base.
Helium Mobile, which connects to global hotspots for data sharing and communication without relying on traditional cellular or WiFi networks, saw its subscriber count surpass 100,000 in early August, reaching 112,867 by Sep. 6. This marks a 300-fold increase in just one year, according to Helium Mobile data.

Helium Mobile subscribers | Source: Helium Mobile

HNT also gained attention after two major U.S. telecom companies began testing its network as part of a carrier offload program, where carriers redirect traffic to Helium’s network during periods of congestion. These tests have reportedly attracted nearly 790,000 users, transferring over 20.47 terabytes of data.

At the same time, Helium’s trading volume has been on the rise, averaging more than $25 million daily, despite Binance delisting HNT futures earlier this year.

HNT’s price rally is being fueled by a 254% increase in total open interest over the past seven days, reflecting growing trader engagement. Coinglass data shows that open interest in the futures market surged to $10.87 million on Sept. 6, the highest level since Dec. 25, 2022. This is especially noteworthy as Binance had delisted HNT’s futures earlier this year.

HNT price, MA Cross and RSI – Sep. 6 | Source: crypto.news

Technically, HNT is exhibiting strong bullish momentum, with the formation of a golden cross—where the 50-day and 200-day Moving Averages intersect—acting as a key bullish indicator. Combined with a mid-range Relative Strength Index around 63, the market conditions seem close to the overbought level, however, suggesting room for further gains.

The recent price surge saw Helium break through the critical resistance at $7.98, signaling ongoing reversals. As previously noted by crypto.news, the $7.98 level is significant as it marks August’s highest swing point and the upper limit of an emerging double-top formation.

Next, Helium buyers are likely to aim for the $8.50 level, which could pave the way for a move toward the channel target of $10.50.

Cat-themed token see double-digit gain

Amid the weekly surge in HNT, cat-themed meme coins were also seen enjoying a green period, while the broader meme coin market fell by 2.9% to $38.6 billion at the time of writing.

Simon’s Cat (CAT), a meme token themed after the popular animated series, surged by 18.47% over the past week and debuted on Aug. 23. Positive community sentiment is evident on platforms like CoinGecko and CoinMarketCap.

In a strategic move, 20% of CAT’s total supply was airdropped to the Floki community, intended to attract more investors to the BNB ecosystem. However, this airdrop led to a temporary dip in CAT’s price. Despite this, Binance, a major cryptocurrency exchange, has expressed support for the initiative. The token is traded on several well-known exchanges, including BingX, Gate.io, KuCoin, and MEXC.

Even with the recent price dip, market analysts are optimistic about CAT’s potential for growth. Analyst IBCIG has highlighted that Simon’s Cat coin is undervalued, particularly on the Binance Smart Chain (BSC), noting its resilience in tough market conditions. They anticipate a strong rebound, especially with potential strategic moves from Binance CEO Changpeng Zhao.

Additionally, analyst Ted is encouraged by CAT’s climb above $0.000028, seeing it as a precursor to a potential bullish trend. He believes sustained interest could propel the token towards a billion-dollar market cap.

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Theo Crypto News

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Monkey Pox token dives amid significant rug pull concerns

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Monkey Pox, a new crypto token that more than doubled in value on Wednesday, Aug. 5, has since erased all its gains amid concerns over market manipulation.

Monkey Pox (POX) dropped to a low of $0.0355, down 68% from its weekly high. This plunge reduced its market cap from over $92 million to just above $54 million.

The sharp decline is attributed to increasing fears of market manipulation, a common issue in the meme coin space.

Data from DEX Screener shows that Monkey Pox has over 25,000 holders. Further data from RugCheck shows that the largest holder controls 660 million tokens, or 66% of the total supply. The top holders own 72% of all POX tokens in circulation.

Notably, the mutable metadata can be altered by the owner at will, a risky situation since the creator is anonymous. Unlike in the stock market where disclosures are expected and required, many meme coin creators are unidentified.

Therefore, there is a risk that the creators of the Monkey Pox token may manipulate the market and leave many investors holding the bag.

This has happened before. In May, Nigerian singer Davido promoted the $DAVIDO token, which later collapsed. It is estimated that the creator, Sahil Arora, profited significantly as the token initially surged. Arora has reportedly made over $30 million from similar celebrity-themed tokens.

The Monkey Pox token was likely launched to capitalize on the fear surrounding Mpox, which the World Health Organization declared a public health emergency in August. The disease is spreading in several countries, primarily in Africa, evoking memories of COVID-19, which claimed millions of lives.

Meme coin creators are benefiting from the ease of creating tokens on platforms like Pump.fun and SunPump. Data shows that SunPump has generated over $57 million in fees in less than a month since its launch, highlighting the popularity of these tokens.

Solana’s (SOL) Pump.fun, which was used to create the Monkey Pox token, has generated over $219 million in fees in the nine months since its launch. In addition to the Monkey Pox token, creators have developed new tokens to exploit viral events. For example, political tokens like MAGA (TRUMP) and ConstitutionDAO (PEOPLE) have a market cap of over $567 million.

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Theo Crypto News

DeFi

Pump.fun hits $100m revenue, but users criticize unsustainable model

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Solana’s Pump.fun surpassed $100 million in revenue since its January launch, but users aren’t sure the feat is good for crypto and decentralized finance.

It took the Solana (SOL) memecoin launchpad 217 days, or roughly seven months, to achieve its record revenue. Pump.fun beat DeFi giants like Ethena (ENA), Pancakeswap (CAKE), and even Curve Finance (CRV) to the milestone.

The protocol allows anyone to create meme-inspired tokens on Solana’s blockchain. Once developers launch a coin, the crypto trades on a bonding curve till it exceeds a $69,000 market cap.

Solana became the go-to memecoin chain in DeFi after the service debuted in early 2024. At one point, developers created over 500,000 memecoins via the platform in a month. The launchpad paved the way for oversaturation in the Solana ecosystem since creating tokens became easier than a few clicks. A crypto.news research found that less than 1% of Pump.fun wallets profited $1,000 or more.

Crypto users unhappy with Pump.fun success

Pump.fun may have raced to $100 million in revenue in record time, but many have questioned if it’s a net positive development for DeFi and the whole cryptocurrency industry.

The biggest concern stemmed from the protocol’s sustainability and its promotion of the casino-like underbelly of digital assets. 

One user argued that the platform fueled cash grabs by celebrities that did not align with crypto’s ethos. Several public figures, from Andrew Tate to Iggy Azalea, launched Pump.fun memecoins. Most of the tokens have crashed well below their peaks.

Questions over regulatory scrutiny of the Solana-based platform also remain, with agencies like the U.S. Securities and Exchange Commission insisting SOL itself, and perhaps its ecosystem, violates federal securities laws.

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Theo Crypto News

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DOGS token suffers a harsh reversal, market cap falls $300m

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DOGS, the popular Telegram meme coin, has suffered a harsh reversal as its hype among market participants waned.

DOGS token sell-off has continued

DOGS (DOGS) price has dropped by over 38% from its highest level last week and was trading at $0.0011, its lowest level since Aug. 26.

The decline coincided with a sharp drop in its volume on centralized and decentralized exchanges. Data from CoinGecko shows that its 24-hour volume on Monday stood at $490 million, down from last week’s high of $1.8 million. It was the lowest intraday volume since it started trading. 

The data also indicates that the token’s futures open interest has started falling, indicating that demand among investors is fading. Its open interest stood at over $118 million, down from last week’s high of $149 million.

DOGS token has likely dropped for three main reasons. First, the news of Pavel Durov’s arrest in France has started to fade as fans await the next action by French authorities.

Durov, the founder and owner of Telegram, was arrested and is facing up to ten years in prison for activities conducted on the app. Many crypto enthusiasts, including Elon Musk and Kim Dotcom, have criticized the allegations on free speech grounds.

DOGS’ popularity and initial jump last week occurred as traders followed his arrest and arraignment.

Cryptocurrencies are not doing well

Second, the DOGS token has also retreated due to waning sentiment in the crypto industry as Bitcoin (BTC) remains in a tight range. The coin has stayed between $57,000 and $60,000 in the past few days. In most cases, altcoins struggle to find direction when Bitcoin is rangebound.

Third, DOGS’ price action has mirrored that of newly launched tokens. Typically, tokens rise in the first few days and then drop after a few days as some initial buyers start to exit their investments.

DOGS, Pixelverse, and Notcoin prices | Source: TradingView

Other Telegram tokens had a similar price action. Notcoin (NOT) initially jumped to a high of $0.02930 in the first few days and then crashed by over 71% to $0.0083. Similarly, Pixelverse (PIXFI) rose to $0.10 after its airdrop and has now dropped by over 93% from its all-time high.

Therefore, there is a risk that the token will continue falling in the near term as many investors who bought during the airdrop continue selling. If this happens, it may drop below the psychological point of $0.0010.

Tổng hợp và chỉnh sửa: ThS Phạm Mạnh Cường
Theo Crypto News