The memecoins are winning. Is this a top signal?

Ass Coin is mooning — up 144 per cent today, and nearly twentyfold in a week.

Shiba Inu token has come out of nowhere to become a top 25 cryptocurrency, ranked this afternoon in the 21-spot with a total market capitalisation of US$27.8 billion.

CumRocket (Cummies) has rocketed from US1.2c to US16c in the past two weeks.

Even respected DeFi crypto project Yearn.Finance has gotten in on the craze, releasing a dog token (“WOOFY”) overnight that sent the value of its YFI token soaring.

If the early crypto bull run was marked by hype over decentralised finance and non-fungible tokens, we’re surely in peak meme season now — and not everyone is happy about it.

The crypto meme craze seemed to begin in February, when the meme-driven Gamestop saga had ebbed and Dogecoin began to pump.

Now there’s even a DogeBSC token that aims to unify the various dog tokens on the Binance Smart Chain.

There’s also LoserCoin (LOWB), which Decrypt reports is the hottest meme coin in China. The coin “is all about embracing the so-called diaosi, or underdog culture, of China,” by encouraging hodlers to embrace their inner loser, writes reporter Shuyao Kong.

It’s not really clear where all this meme coin mania is going — but the tokens do have their defenders.

 

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The post The memecoins are winning. Is this a top signal? appeared first on Stockhead.

Barry Stroman was a reporter for Zerg Watch, before becoming the lead editor. Barry has previously worked for Wired, MacWorld, PCWorld, and VentureBeat covering countless stories concerning all things related to tech and science. Barry studied at NYU.

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