Memecoin News. The market capitalization of meme coins is currently at $49.3 billion, representing an increase of 8.4% over the previous twenty-four hours. Billy is the most successful performer during this period. It has increased by 52% to reach a price of $0.1562. With a price increase of 44.2% to $0.0000585, LandWolf (WOLF) came in second place from the competition.
Concurrently, only a few coins are down today. Spike (SPIKE) and Doland Tremp (TREMP) sustained the most losses. While SPIKE experienced a decline of 29.1% to $0.01829, TREMP experienced a decline of 18.3% to $0.4427.
As far as the top ten meme coins according to market cap, they are all green at the moment. As a result of the greatest rise, TURBO emerged victorious in this particular area. The value increased by almost 17%, reaching $0.0042.
The value of TokenFi (TOKEN) has also increased significantly, reaching $0.07688, a 12.9% increase. Currently, the most popular meme coin in the market, known as Dogecoin (DOGE), is trading at $0.11886, representing a 4.4% increase. The remaining items on this list have experienced an increase of between three and six percent. On the whole, it is a profitable day for meme currencies. That is, except for the MAGA coins.
MAGA Coins Drop Following Donald Trump Assassination Attempt
Over the last twenty-four hours, the prices of Memecoin News that include the term “MAGA” in their names have experienced huge drops. In a single day, MAGA Hat (MAGA) had a decline of 23%, and Bridged MAGA (TRUMP) experienced a decline of 21%. The most widely used of these coins is the MAGA (TRUMP) cryptocurrency.
After seeing a boom at the beginning, its price has dropped by over 12% in the past twenty-four hours, and it is currently trading at $8.22. As a result, the coin has experienced a weekly increase of 42.5% and a monthly decrease of 32%. On June 1, MAGA reached its peak price of $17.51, which was recorded. Since then, it has decreased by 53%.
The trading volume for this period is $26,188,802, which is a reduction of 38.1% compared to the volume recorded yesterday. While this is happening, the acronym “MAGA” stands for “Make America Great Again,” which is the slogan that former President Donald Trump of the United States of America popularized during the election cycle in that country in 2016.
After a slew of scandals, allegations, and a trial that resulted in Trump being the first former president of the United States to be convicted of a felony – he was found guilty on 34 charges in a Manhattan court on May 30 – he is now back on the campaign trail for the elections that will take place in 2024.
During a protest that took place on Saturday, there was an attempt made on his life. While Trump was defending his family, two individuals were shot, and one person was killed. Trump managed to escape with only a scrape to his ear.
New Split Between Establishment and Anti-Establishment Forces in Meme Coins
As noted in the CoinMarketCap report for the first half of 2024, the researchers said new projects are gaining momentum in the larger meme currency market at an “unprecedented speed” compared to any previous cycle. Although they fall under artificial intelligence, the most popular projects among CMC users are primarily “meme-fied” AI concept tokens such as Turbo.
“This could potentially mark a shift from the previous dichotomy of crypto versus traditional finance to a new split between the establishment and anti-establishment forces within the crypto space,” the report stated. “This could be a significant development.”
In addition, meme currencies are considered to “reign” within the Solana (SOL) ecosystem. According to the analysts, this represents a rush into traded assets on speculation. Retail investors’ priority for immediate gains over venture capital-backed high FDV ventures is more evidence of an anti-establishment mindset.
According to their argument, “the rapid influx of liquidity into Memecoin News creates a casino-like mood,” which means that investors prefer to wager on high-risk assets rather than relying on more value-oriented, traditional, slower-build ventures.
Meanwhile, in June, meme coins became the most popular category in cryptocurrency on CoinMarketCap for the first time in the cryptocurrency market’s history. They turned the Smart Contract, DeFi, and NFT narratives upside down.
According to the CMC crypto user traffic, the nations with the most users are Brazil, India, Indonesia, Germany, and Russia. This is because memes dominate the market climate. However, nations such as the United States of America, the United Kingdom, and France, which have traditionally placed a greater emphasis on Bitcoin/Ethereum, decentralized finance, infrastructure, and institutional markets, have witnessed a decline in the market share of cryptocurrency users.
Turbo In Talks With Animoca Brand’s AAA Gaming Studio
Immediately following the announcement of their relationship with the blockchain gaming giant Animoca Brands, the team responsible for the artificial intelligence concept token Turbo revealed that they are “in talks” for another partnership.
In the tweet, Turbo stated they are “in talks with [Animoca Brand’s] AAA gaming studio to integrate TURBO Toad into their upcoming karting game.” Turbo then presented the minimum system requirements and requested that the followers vote on whether or not they would participate in this game.
Memecoin News: Eighty-seven percent of the 2,043 votes cast indicated participation, while thirteen percent indicated not. Turbo announced in late June that it would collaborate with Animoca Brand’s Motorverse. The press release states that this business agreement is “designed to leverage Animoca Brands’ robust ecosystem and position TURBO as a recognized name with long-term market presence and token value.”
The Sandbox and Phantom Galaxies are two of the most notable projects Animoca Brands has worked on. Additionally, the company has collaborated with big intellectual properties such as The Walking Dead, Power Rangers, MotoGP, and Formula E. Motorverse will participate in a token exchange between its REVV tokens and TURBO tokens. The TURBO tokens it has received will be distributed to the REVV holders in the Motorverse community.
