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On March 29th, WIF broke through $3.98 in the morning, hitting a historic high. It's now priced at $3.8817, with a 24-hour increase of 24.16%. Despite the market's surges in AI, blockchain gaming, cross-chain, and RWA sectors, their advances still pale in comparison to MEME, which remains the focus of this bull market.
WIF Hits Another High
WIF can be considered the "rising tide" of MEME. As a project without a community or narrative, it achieved a thousandfold increase in less than 4 months, becoming the first dog coin to surpass $1. With WIF's listing on Binance, its price surged to a high point with emotions before slightly retracing.
During WIF's thousandfold rise, it has garnered not only support from KOLs like BitMEX co-founder Arthur Hayes but also believers. According to on-chain analyst Yu Jin's monitoring, the address wifto100billy.sol started buying WIF on December 13, 2023, and has since spent $9.33 million to purchase 37.62 million WIF (3.76% of the total WIF supply), becoming the largest individual/institutional holder of WIF.
The average purchase price of wifto100billy.sol is $0.248, and all the purchased WIF has been transferred to the wifto100billy.sol address for storage, with no sales for profit-taking yet. According to birdeye data, after trading sideways around $2, WIF's price has risen again today, breaking through $3.98, a new all-time high. The largest holder of WIF is currently profiting 1440%, with a floating profit of $134 million.
WIF's new high once again draws attention to MEME. Solana remains the main battlefield for MEME speculation, with the "god token" BOME bringing about a wave of MEME frenzy during its presale. Although its price fell after being listed on Binance, it still has tens of times of potential bottom gains. Today, in the new round of MEME frenzy, its price still shows an upward trend. At the time of writing, BOME's price is $0.0135, with a 24-hour increase of 11.55%.
In addition to Solana MEME, MEME from other ecosystems has also started to gain momentum. According to Bitget data, DOGE, a dog coin, has risen by 9.8% in the past 24 hours, ranking in the top three in trading volume; PEPE has risen by 3.8% in the past 24 hours; DEGEN, a MEME coin from the Base ecosystem, has risen by 74.2% in the past 24 hours, ranking in the top three in real-time increases.
DEGEN is a MEME project truly led by the community, originated from the Farcaster community. Its rise has also increased the visibility of the Base ecosystem, with its TVL surpassing $2.5 billion, hitting a historic high. MEME from Base has thus become a hot topic, with hundreds of smart money addresses lurking in the Base ecosystem's MEME.
MEME Season Returns?
Today, the market still lacks a mainstream narrative that can compete with Bitcoin ETFs, so MEME coins have taken on the emotions of crypto players, with some even saying "Value is boring; money-making depends on MEME."
With more and more innovative ways to play MEME, the market has seen sectors take turns surging, such as the GPU-driven AI boom, AXL driving cross-chain interoperability, ONDO bringing the RWA narrative, and so on. However, the enthusiasm has not lasted long, and each track can still create countless MEME coins for retail investors to speculate on. As of March 29th, according to alphascan data, MEME occupies 3 spots in the top ten cryptocurrencies ranked by market sentiment.
Maartje Bus, Vice President of Research at Messari, said, "MEME coins will continue to be an important part of the cryptocurrency market and may even become a new asset class. Cryptocurrencies are often criticized for lacking use cases for ordinary people, which is a fair criticism. However, MEME coins have been successfully attracting people to the blockchain."
However, MEME itself has no practical value, so investments should be made cautiously. |
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Post time 11-4-2024 22:19:48
