Meme coin buzz rocks crypto community
Meme coins continue to generate a lot of hype on Twitter following several events, bringing many of them to the forefront of the online crypto conversation.
At the beginning of the month, Twitter CEO Elon Musk, an unabashed proponent of Dogecoin (DOGE), replaced the iconic blue bird with the DOGE meme.
The DOGE community supported Musk’s move, and the token also reacted positively in the market, jumping nearly 30% on the day.
Weeks later, a Pepe (PEPE) token was introduced, and it did not only cause a stir on social media, but its value increased by over 21,000% in its first three days, generating $30 million in trading volume on Uniswap and reaching a market capitalization of as much as $33 million.
Pepe is based on the image of Pepe the Frog, a popular internet meme that originated in a comic strip by Matt Furie. Pepe claims to be “the most memeable memecoin in existence” and has a total supply of 420 trillion tokens, referencing the cannabis culture slang “4/20.”
Floki Inu listed on Binance.US
More recently, Binance.US sent crypto Twitter over the edge with its listing of Floki Inu. As reported by crypto.news, the price of FLOKI has significantly increased due to the listing, rising 38% in just 24 hours of trading as of the time of writing.
FLOKI’s trading volume increased by almost 2000% during the same time.
ShibaSwap’s BONE token also benefited from listings on Huobi and OKX and some positive crypto Twitter hype to add 5% to its value.
BONE has had a price increase of 36% since the beginning of 2023. It is still down 55% from the $2.40 all-time high (ATH) reached in August 2022.
Many anticipate that the new listings on Huobi and OKX will increase the token’s visibility and trading volume. Additionally, the crypto community is actively watching the performance of BONE and other ShibaSwap tokens in the next few months.
But not just FLOKI, PEPE, and BONE have been getting all the attention. Other meme coins trending on Twitter include Tamadoge, RichQuack, BabyDoge Coin, Hamster Coin, and Pitbull.
These coins have various features and use cases, such as utility tokens for decentralized applications, deflationary mechanisms, metaverse plans, and charity donations.
Some have also been listed on major exchanges or platforms, such as AAX Exchange and Deepcoin Global.
