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 massive factor within the meme coin trade.
Meme cash have executed nicely this 12 months, as they outperformed most mainstream cash like Bitcoin, Ether, and Ripple. Some, like Pepe and Guide of Meme (BOME) have surged to a report excessive whereas the whole market cap of all cash has soared to over $60 billion. SolJu, an upcoming Solana meme coin, could possibly be the subsequent massive factor within the trade.
Why meme cash soared
There are three principal the reason why meme cash have executed nicely this 12 months. First, most of those tokens soared as a way of greed unfold out there. The concern and greed index has principally been within the inexperienced this 12 months as traders anticipated fee cuts by central banks just like the Federal Reserve and the ECB.Â
Second, meme cash jumped due to Bitcoin’s efficiency. Bitcoin, the largest crypto on the earth, jumped to a report 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 target now shifts to the upcoming approval of Ethereum ETFs. In an announcement final week, Gary Gensler predicted that these approvals will occur later this 12 months.Â
Meme cash are likely to do nicely 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.Â
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 could possibly be the subsequent massive factor
Now, focus amongst meme crypto traders has shifted to SolJu, a brand new Solana meme coin that might be launched on Tuesday.Â
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.Â
Its title is derived from Sol – for Solana – and Soju, a well-liked 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.Â
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.Â
The preliminary provide of the token might be 100 million tokens whereas the preliminary liquidity might be $12,000. The beginning worth might be $0.00012, giving it room to develop within the coming months.
After the launch, the builders intention to spice up its worth via change listings, video games, and partnerships within the crypto group. You may study extra about SolJu right here.
