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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 could possibly be the subsequent huge factor within the meme coin trade.
Meme cash have carried out effectively this 12 months, as they outperformed most mainstream cash like Bitcoin, Ether, and Ripple. Some, like Pepe and E-book of Meme (BOME) have surged to a file excessive whereas the overall market cap of all cash has soared to over $60 billion. SolJu, an upcoming Solana meme coin, could possibly be the subsequent huge factor within the trade.
Why meme cash soared
There are three foremost the reason why meme cash have carried out effectively this 12 months. First, most of those tokens soared as a way of greed unfold out there. The worry and greed index has principally been within the inexperienced this 12 months as traders anticipated charge 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 file 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 could 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 12 months.
Meme cash are likely to do effectively when Bitcoin is prospering due to their cheaper costs. Because of this, most traders 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 firms like GameStop and AMC. Additionally, merchants are being incentivised to purchase meme cash by actions in social media.
SolJu could possibly be the subsequent huge factor
Now, focus amongst meme crypto traders has shifted to SolJu, a brand new Solana meme coin that will likely 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 lately.
Its identify is derived from Sol – for Solana – and Soju, a preferred South Korean spirit. As such, the hope is that the token will likely be a social platform the place Solju holders will collect and kind 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 likely be launched after which the market discovery will assist to find out its worth.
The preliminary provide of the token will likely be 100 million tokens whereas the preliminary liquidity will likely be $12,000. The beginning value will likely be $0.00012, giving it room to develop within the coming months.
After the launch, the builders intention to spice up its value by way of alternate listings, video games, and partnerships within the crypto group. You’ll be able to study extra about SolJu right here.
