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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 might be the subsequent massive factor within the meme coin trade.
Meme cash have accomplished nicely this 12 months, as they outperformed most mainstream cash like Bitcoin, Ether, and Ripple. Some, like Pepe and Ebook of Meme (BOME) have surged to a document excessive whereas the whole market cap of all cash has soared to over $60 billion. SolJu, an upcoming Solana meme coin, might be the subsequent massive factor within the trade.
Why meme cash soared
There are three foremost the explanation why meme cash have accomplished nicely this 12 months. First, most of those tokens soared as a way of greed unfold available in the market. The concern and greed index has principally been within the inexperienced this 12 months as buyers anticipated fee cuts by central banks just like the Federal Reserve and the ECB.
Second, meme cash jumped due to Bitcoin’s efficiency. Bitcoin, the most important crypto on the earth, jumped to a document excessive in March as buyers cheered the approval of Bitcoin ETFs by the Federal Reserve. Since then, these funds have seen inflows of over 800k Bitcoins and the development could proceed.
The main target 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 12 months.
Meme cash are likely to do nicely when Bitcoin is prospering due to their cheaper costs. Consequently, most buyers purchase them as an alternative of the extremely costly cash like Bitcoin, Litecoin, and Bitcoin Money.
Moreover, the idea of meme buying and selling has rebounded as evidenced by corporations like GameStop and AMC. Additionally, merchants are being incentivised to purchase meme cash by actions in social media.
SolJu might be the subsequent massive factor
Now, focus amongst meme crypto buyers has shifted to SolJu, a brand new Solana meme coin that might be launched on Tuesday.
It is 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 identify is derived from Sol – for Solana – and Soju, a preferred South Korean spirit. As such, the hope is that the token might 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 an alternative, the builders are planning a good sale, the place all tokens might be launched after which the market discovery will assist to find out its worth.
The preliminary provide of the token might be 100 million tokens whereas the preliminary liquidity might be $12,000. The beginning value might be $0.00012, giving it room to develop within the coming months.
After the launch, the builders goal to spice up its value by way of trade listings, video games, and partnerships within the crypto neighborhood. You possibly can be taught extra about SolJu right here.
