OPRR Flash Depth Activities

Search Extension

The myth of wealth creation coexists with anxiety. Who will take the next Meme throne after PEPE?

2023-05-06 11:15

Read this article in 19 Minutes

AI summary

View the summary

Original title: "PEPE is now on Binance, who will be the next meme king?"

Source: Flowie, Biscuit, ChainCatcher

PEPE is now on Binance. Binance announced that it will list Pepe (PEPE) on its innovation zone and open trading pairs of PEPE/USDT and PEPE/TUSD at 24:00 tonight Beijing time. After the announcement, PEPE surged over 25% in the past hour.

Recently, the successive surges of PEPE have once again brought meme coins/dog coins to the forefront of the cryptocurrency market. In just a few days, dozens of meme coins/dog coins have emerged, with gains of tens of times, causing half of the market to revel in the wealth creation myth and the other half to continue to be anxious about Fomo.

Currently, there are multiple genres of gameplay and scams disguised as meme coins/dog coins in the popular meme coin/dog coin industry. Players need to be cautious of the risks involved.

1. Meme Coin/Typical Gameplay of Dogecoin

1. Famous meme-derived coins

PEPE

Pepe Frog MEME Coin, its official website and Twitter account posted the first tweet on April 5th, and PEPE trading was launched on April 15th. The initial price of PEPE was about 0.000000001 US dollars, with a total supply of 420.69 trillion.

PEPE has no pre-sale, zero burning tax, and LP Tokens are destroyed, and has given up contract permissions. PEPE claims to be "the most popular meme coin in existence". Dogecoin is outdated, it's time for Pepe to dominate.

Shortly after its launch, a series of wealth myths about the pepe yield, which increased by hundreds of times, quickly made it popular. According to Lookonchain monitoring, a smart money address spent 0.125 ETH (equivalent to $251) to purchase 5.9T PEPE (currently worth $1.14 million) on April 15th. Based on the price of 0.0000001933 USD on the 19th, the yield exceeded 4500 times. Five addresses associated with pepecexwallet.eth purchased 8.87 trillion PEPE at a low price, costing about 0.19 ETH ($385), and sold 7.76 trillion PEPE on DEX at a price of $1.23 million, with a yield of over 3200 times.

Currently, according to Coingecko data, the market value of PEPE has skyrocketed to over 800 million US dollars, ranking among the top 100 cryptocurrencies (currently at 61), with a nearly 600% increase in token price in the past 7 days, and a 24-hour trading volume with over 93,000 holding addresses. PEPE is listed on trading platforms such as OKX, Uniswap (v2), Uniswap (v3), Gate.io, and Huobi.

Recommended reading: "PEPE Enters Top 100 Cryptocurrencies! Understanding the Past and Present of the Viral Meme"

WOJAK

After PEPE went viral, WOJAK, the coin associated with the well-known meme Wojak (also known as Feels Guy), was also launched. According to its official website, it is supported by PEP's mememeter. The original form of Wojak is a simple drawing of a wrinkled, depressed bald man. Celebrities such as Zhao Changpeng also shared Wojak emoticons last year.

WOJAK Token has a total supply of 69.42 billion and experienced a surge within 24 hours after its launch on April 18th. Shortly after its release, renowned crypto artist beeple also shared WOJAK's related post.

Currently, the market value of WOJAK has reached over 60 million US dollars, with a growth rate of over 1000% in the past 7 days and a trading volume of over 70 million US dollars in the past 24 hours. There are over 10,000 holding addresses. WOJAK is available for trading on Uniswap (v3), Gate.io, Huobi, Bitget, and LBank.

CHAD

Similar to Pepe the Frog and Wojak, Chad is also a well-known meme on the internet. After the Pepe meme coin PEPE became popular, it gave birth to the meme coin CHAD. The original meaning of Chad is a term used to describe someone who is very talkative and thinks highly of themselves. When someone is being annoying and you don't want to deal with them, you can respond with "Yes Chad".

The total supply of CHAD is 235 trillion coins. Since its launch on April 18th, it has surged by 79,202%, but compared to PEPE and WOJAK, its decline has been more severe, falling more than 50% from its peak.

Currently, the market value of CHAD exceeds 4.3 million US dollars, with a growth rate of over 690% in the past 7 days and a trading volume of over 5.57 million US dollars in the past 24 hours. There are 2268 holding addresses. The exchanges that have listed CHAD include Huobi, Bitget, Poloniex, and Uniswap (v2).

POGAI

POGAI is a Chinese dogecoin that is almost as well-known as a publicly traded company. Its meme image is a spoof of a panda head expression pack, and it has been very popular in the past two days.

POGAI has a total supply of 100 billion and was officially launched on May 4th with no private placement or pre-sale. POGAI has a strong marketing strategy, using the popular airdrop model from the past two years of Dogecoin and having KOLs promote it. Its model is very similar to a group of lowb Dogecoin, and it is even speculated that it was created by the original team of lowb.

Currently, POGAI has risen by over 75% in the past 24 hours, with a trading volume of over 24 million US dollars and over 42,000 holding addresses. It is listed on trading platforms such as Gate.io, Bitget, and Uniswap.

2. Airdrop Speculation

AIDOGE, a meme coin with AIDOGE as its token, mainly revolves around the speculation of Arbitrum airdrop accounts. Later, there was even speculation around zksync account airdrops, but it didn't make much of a splash.

AIDOGE

During this round of meme token craze, while PEPE was going crazy overseas, AIDOGE in China also quickly became popular. The ArbDoge AI website (AIDOGE) claims to be an experiment in the Arbitrum ecosystem, and its token AIDOGE was launched on April 15th with a total supply of 21 trillion tokens. Addresses eligible for ARB token airdrops can receive 95% for free, and the mechanism is such that the earlier you claim, the more tokens you receive.

In addition, AIDOGE has designed a mechanism for transaction burning tax. Users will be charged a 15% burning tax for each transaction on the chain, with 3% used for ecological development, 1% to be destroyed, 2% rewarded to liquidity providers, 3% used to purchase ARB for subsidizing protocol games and voting (in the early stages, some ARB Tokens will be directly used to encourage users to increase liquidity pool funds), and 3% used for AIDOGE holders' staking rewards. 3% will be used for lucky drops, which will be exchanged for ARB Tokens and deposited into the lucky pool.

Currently, the market value of AIDOGE exceeds 100 million US dollars, with a 24-hour trading volume of over 157 million US dollars. Its Token has increased by 241% in the past 7 days, with over 130,000 holding addresses. AIDOGE is listed on exchanges such as OKX, Gate.io, Huobi, Bitget, and BKEX.

Recommended reading: "Reviewing the surge of PEPE and AIDOGE, how do we dance with meme coins?"

MONG

MongCoin launched MONG Token on April 23rd. According to its official website, MongMob was born from the ramblings of a US congressman, and MongMob is immortal and can survive in a bear market.

Unlike pure meme coins, MONG is related to MONGS NFT created in January 2022. MONGS NFT consists of 6,943 NFTs, each depicting a unique ferret. Holders of these NFTs will receive MONG coin airdrop rewards.

MONG has risen by over 88% in the past 24 hours, with a trading volume of $24.4 million and over 10,000 holding addresses. The currently available exchange for trading is Uniswap (v2).

3、Social Experiment/CX Category

This type of game mechanism, similar to CX, is used to create Fomo emotions in users.

CLIPS

Last night's CLIPS, which was just launched, should be the hottest "Tu Gou Bi" today. Its official gameplay seems to be more complicated. Simply put, it is a fomo game to compete for advertising space. It has a prize pool, and the first time a single wallet mints, it will receive five million CLIPS, and then it will be halved and decayed subsequently. You can also use your own coins to bid for the homepage advertising space, and the consumed coins will also be burned. The successful bidder needs to pay 1.5 times the previous bidder's Token. If no one bids for more than a week, they can receive Token rewards.

The total supply of CLIPS is 220 billion, and currently the 24-hour increase of CLIPS token is over 88%.

RG has not been as popular as CLIPS, but its gameplay is also a relatively new way to create FOMO sentiment. Its official website claims that smart contracts are completely generated by ChatGPT.

The total supply of RG is 999,999,999, and all Tokens are placed in the Uniswap V2 pool, while LP Tokens have been burned. If an address holds RG for more than 9 days, its held Tokens will be destroyed, and the holder must send the Tokens to a new wallet during this period. Currently, RG's 24-hour trading volume exceeds $2.44 million, with a 24-hour increase of over 170%.

二、Meme project has been running away one after another, users need to be cautious of risks

Recently, popular meme coins such as SHIBERA and XIRTAM have run away. On April 26th, blockchain data analyst ZachXBT posted on social media that in the past month and a half, users have created 114 consecutive meme coin scams and transferred the profits to the same address (starting with 0x73). Under the FOMO created by memes, users need to be cautious of risks.

XIRTAM

XIRTAM is the first protocol proof deployed on Arbitrum. Its official website claims to establish the world's first advanced non-KYC blockchain reputation system. It is committed to creating a free Play-to-Earn game world, where players can participate without purchasing any admission tickets.

There are many KOLs promoting XIRTAM. From April 23-26, the project conducted a public sale on FjordFoundry and successfully raised 2.11 million USD with an ending price of 0.0456 USD. Then, on the 29th, the project raised funds at a unit price of 0.037 in a public presale on Pincubator_io and mapped the tokens to Arbitrum after raising 633 ETH.

However, surprisingly, SushiSwap was launched in the early hours of May 3rd and plummeted from 0.02 USD to 0.0018 USD, with a market value drop of 90% in just a few hours.

SHIBERA

SHIBERA is a meme project on zkSync. It previously announced an airdrop, but shortly after, a Rug occurred. Currently, the official Twitter account has been deactivated and the liquidity pool on SyncSwap has been withdrawn. It is worth mentioning that before deactivating the official Twitter account, the account changed its Twitter username to "你好" (which means "hello" in Chinese).

III. Is Ethereum the biggest winner??

Along with the meme/dog season comes high gas fees. According to beaconcha.in data, the gas fees for ETH have continued to soar, with gas fees reaching over 100 Gwei in recent days becoming the norm.

Why are meme/dog season coins so high? According to analysis by crypto industry experts, the main reason for the high volatility of meme/dog coins is due to their liquidity being primarily on-chain and with generally small LPs. This leads to large price fluctuations for meme coins, causing buyers and sellers to set higher slippage rates to prevent failed transactions resulting in wasted gas fees. This in turn creates opportunities for MEV arbitrage, driving up gas prices.

From the perspective of ETH burning, in the recent downturn of the NFT market, the total supply of ETH has decreased by 32,242 in the past 7 days, and the current deflationary annualization is about 1.398%. Since the merger (231 days ago), a total of about 560,000 ETH has been burned, and 45,400 ETH has been burned in the past 7 days. The power of memes is evident, so have you fomoed yet?

Investing in the meme sector carries significant risks, and users should not blindly fomo. Manage risks and investments well. This article does not provide any investment advice. DYOR.