Meme cash have a market cap of over $60 billion.
Tokens like Pepe and Bonk have made many millionaires.
SolJu could possibly be the subsequent large factor within the meme coin business.
Meme cash have achieved properly 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 document excessive whereas the full market cap of all cash has soared to over $60 billion. SolJu, an upcoming Solana meme coin, could possibly be the subsequent large factor within the business.
Why meme cash soared
There are three essential the reason why meme cash have achieved properly this yr. First, most of those tokens soared as a way of greed unfold available in the market. The concern and greed index has largely been within the inexperienced this yr 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 document 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 pattern 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 yr.
Meme cash are likely to do properly when Bitcoin is flourishing due to their cheaper costs. In consequence, 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 large factor
Now, focus amongst meme crypto traders has shifted to SolJu, a brand new Solana meme coin that can 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 not too long ago.
Its identify is derived from Sol – for Solana – and Soju, a preferred South Korean spirit. As such, the hope is that the token can 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 can be launched after which the market discovery will assist to find out its worth.
The preliminary provide of the token can be 100 million tokens whereas the preliminary liquidity can be $12,000. The beginning worth can be $0.00012, giving it room to develop within the coming months.
After the launch, the builders intention to spice up its worth by alternate listings, video games, and partnerships within the crypto neighborhood. You’ll be able to study extra about SolJu right here.
