Memecoin price
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About Memecoin
Memecoin’s price performance
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Technically, BNB is consolidating between support at $1,055 and resistance near $1,112, with buyers attempting to absorb selling pressure.
Trading volume has surged, reflecting increased volatility, and technical analysis suggests bearish signals that could extend the recent downturn
BNB's price movement follows a 45% surge in the past month, which made it the third-largest cryptocurrency by market capitalization.
A firmer U.S. dollar and fading risk appetite weighed on bitcoin Thursday, while Binance’s new Meme Rush platform targets surging Chinese-language memecoin speculation.
The sell-off was driven by significant activity in the crypto space, with whales taking profits and investors seeking cover from rising political risks.
21Shares’ Matt Mena says Solana’s $2.85B in annual revenue shows lasting strength across DeFi, trading and new app sectors even as memecoin mania has cooled.
The price jump comes amid growing whale accumulation, with top 100 PEPE addresses on Ethereum adding 4.28% to their holdings in 30 days.
ETF speculation flows that could re-anchor memecoin bids across DOGE and SHIB.
Technical desks noted Golden Cross signals across majors, reinforcing bullish momentum. Analysts flagged a decisive break above $0.255 as opening a path toward $0.32.
The hack involved phishing links promoting a fake memecoin, but the BNB community responded by buying the token en masse after the hacker dumped it.
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Dive deeper into Memecoin
Memecoin is a cryptocurrency that was created on the Ethereum blockchain. It is a social experiment and a source of amusement within the cryptocurrency landscape.
Memecoin does not have any inherent functional utility, intrinsic value, or the expectation of financial returns, unlike some other cryptocurrencies such as Bitcoin or Ethereum. Despite its lack of traditional use-cases, Memecoin has carved out its own niche within the cryptocurrency universe. Its impact and value are derived from its dynamic community and the whimsical charm of internet memes.
How does Memecoin work
Memecoin is a cryptocurrency that works differently from traditional cryptocurrencies such as Bitcoin and Ethereum. It does not have any inherent applications and its value is derived from the collective entertainment that it brings to the world of cryptocurrencies.
The volatility of Memecoin's trading volume makes it challenging to use traditional market approximation techniques to value it. However, Memecoin has managed to create a significant impact within the global cryptocurrency market due to its unique and entertaining nature.
About the Founder
Memecoin was founded by the team at Memeland, a web3 venture studio that was spun off from 9GAG, a leading global meme platform. 9GAG has over 200 million monthly followers and is ranked among the top 500 websites globally. The team at Memeland has over 15 years of experience in building community-focused products and has worked with hundreds of distinguished brands, thousands of leading creators, and millions of passionate supporters.
Memeland is focused on the potential of social banking and the Creator Economy. Since June 2022, the team has launched three non-fungible token (NFT) collections: You The Real MVP, The Captainz, and The Potatoz.
Highlights of Memecoin
Memecoin raised $15.80 million USD in two pre-sale rounds. Private investors purchased 12% of the total supply, and the Memeland community purchased 11%. As of October 27, 2023, the total supply of MEME tokens is 69 billion, with a circulating supply of approximately 8.8 billion tokens upon listing, representing about 12.75% of the total supply.
The Memecoin whitepaper states that MEME is not intended to serve as a medium of exchange, a representation of money, or a security, share, or debenture. It does not offer any rights to exchange MEME for goods or services, voting rights in the Memeland ecosystem, participation in any enterprise's business operations, or any entitlement to profits, dividends, or revenue. MEME does not represent any indebtedness or the promise of a financial return.
Memeland has not released a roadmap or made any explicit promises to investors or the community. Despite its lack of traditional utility and value expectations, Memecoin brings a new perspective to the cryptocurrency world, fueling a global culture of humor and fun.
To learn more about Memecoin, you can visit the Memecoin whitepaper.
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