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    Home»Altcoins»Degens Are Flocking to These Solana Meme Cash Amid Crypto Market Turmoil – Decrypt
    Degens Are Flocking to These Solana Meme Cash Amid Crypto Market Turmoil – Decrypt
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    Degens Are Flocking to These Solana Meme Cash Amid Crypto Market Turmoil – Decrypt

    By Crypto EditorFebruary 3, 2025No Comments3 Mins Read
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    Degens Are Flocking to These Solana Meme Cash Amid Crypto Market Turmoil – Decrypt

    President Donald Trump’s Friday tariff announcement has put the market in shock, with crypto principally being within the crimson throughout the board. However some meme cash are nonetheless within the inexperienced, combating in opposition to the macro pressures as a result of some degens by no means stopped clicking “purchase.”

    Meme cash, as categorized by CoinGecko, are down 11.3% over the previous 24 hours, 29% over the previous week. The precise chain hit the worst was Ethereum layer-2 Base meme cash, down 7.3% this week adopted by Solana meme cash down 4.4%.

    “Most individuals I do know are getting slaughtered,” pseudonymous dealer 0xWinged, who additionally deployed Sharkcat, instructed Decrypt. “A whole lot of group chats are lifeless proper now. Sentiment is so trash.”

    Nonetheless, in response to Dune information, 53,248 tokens have been created on fashionable launchpad Pump.enjoyable on Saturday—only a 9.7% downturn in comparison with the earlier Saturday. Whereas the market is in concern, some merchants within the trenches are discovering methods to flip a revenue off this sense.

    “Lots of people have simply resorted to buying and selling low cap shitters, there are nonetheless $5 million market cap runners daily,” 0xWinged stated. “Many of the cash that run are connected to detrimental feelings.”

    Over the weekend, for instance, a token referring to hanging your self with the intention to die by suicide referred to as Rope (ROPE) ran to a $6 million market cap. In keeping with DEX Screener, 15 merchants profited greater than $10,000 every on the coin. That stated, meme cash are closely risky and create simply as many losers with 12 merchants presently within the crimson for greater than $10,000.

    “It’s as a result of everybody shares that detrimental, trash sentiment,” 0xWinged stated. “Individuals are suicidal on this market. Joke or not, the emotion is shared.”

    Equally, on the time of writing, McDonald’s McValue (MCVALUE) has just lately shot as much as an $824,000 market cap, with the highest dealer profiting $3,600. The token is but to dip to create any main losers, however with the quick shelf lifetime of most meme cash it seemingly will create some quickly.

    Solely one of many high 10 meme cash is not within the crimson over the previous 24 hours, with Fartcoin (FARTCOIN) rising 36%.

    Worst hit is Dogwifhat (WIF) down 23%, after a Sphere consultant instructed Decrypt that there isn’t a deal to promote the token on its Las Vegas venue on Friday. SPX6900 (SPX) can be down 9%, Pepe (PEPE) 15%, and Official Trump (TRUMP) 10%.

    After Fartcoin, Base cat coin Toshi (TOSHI) is the most important meme coin within the inexperienced, which has jumped 33%. Following that, AI Rig Complicated (ARC), a Solana-based AI meme coin, has climbed 43% and Popcat (POPCAT) has bounced 14.5%.

    Meme cash are extremely risky crypto belongings with no actual underlying worth, as such shopping for and promoting them is extraordinarily dangerous. With this, many meme cash die shortly after being created leaving tons of individuals dropping cash whereas a smaller quantity get away with a wholesome revenue.

    “I believe AI and non memecoins are the play proper now, though some giant [meme coins] are on a reduction,” 0xWinged added. “However I believe the perfect threat reward for the typical investor is clearly shopping for cash with fundamentals. 99% of individuals get killed within the trenches anyway.”

    Edited by Stacy Elliott.

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