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Meme cash have a market cap of over $60 billion.
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Tokens like Pepe and Bonk have made many millionaires.
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SolJu may very well be the subsequent huge factor within the meme coin trade.
Meme cash have achieved nicely this yr, as they outperformed most mainstream cash like Bitcoin, Ether, and Ripple. Some, like Pepe and E-book of Meme (BOME) have surged to a report excessive whereas the whole market cap of all cash has soared to over $60 billion. SolJu, an upcoming Solana meme coin, may very well be the subsequent huge factor within the trade.
Why meme cash soared
There are three fundamental the explanation why meme cash have achieved nicely this yr. First, most of those tokens soared as a way of greed unfold out there. The concern and greed index has largely been within the inexperienced this yr as traders anticipated price cuts by central banks just like the Federal Reserve and the ECB.
Second, meme cash jumped due to Bitcoin’s efficiency. Bitcoin, the largest crypto on the earth, jumped to a report excessive in March as traders cheered the approval of Bitcoin ETFs by the Federal Reserve. Since then, these funds have seen inflows of over 800k Bitcoins and the development might proceed.
The main focus now shifts to the upcoming approval of Ethereum ETFs. In a press release final week, Gary Gensler predicted that these approvals will occur later this yr.
Meme cash are inclined to do nicely when Bitcoin is prospering due to their cheaper costs. In consequence, most traders purchase them as a substitute of the extremely costly cash like Bitcoin, Litecoin, and Bitcoin Money.
Moreover, the idea of meme buying and selling has rebounded as evidenced by firms like GameStop and AMC. Additionally, merchants are being incentivised to purchase meme cash by actions in social media.
SolJu may very well be the subsequent huge factor
Now, focus amongst meme crypto traders has shifted to SolJu, a brand new Solana meme coin that will probably be launched on Tuesday.
This can be a meme coin that has been impressed by the success of Beercoin, a token whose market cap jumped to over $300 million just lately.
Its title is derived from Sol – for Solana – and Soju, a preferred South Korean spirit. As such, the hope is that the token will probably be a social platform the place Solju holders will collect and type a makeshift gathering with beer and meals.
SolJu will forego the favored route of a token sale. As a substitute, the builders are planning a good sale, the place all tokens will probably be launched after which the market discovery will assist to find out its worth.
The preliminary provide of the token will probably be 100 million tokens whereas the preliminary liquidity will probably be $12,000. The beginning value will probably be $0.00012, giving it room to develop within the coming months.
After the launch, the builders goal to spice up its value by trade listings, video games, and partnerships within the crypto group. You possibly can study extra about SolJu right here.
