Get your weekly, bite-sized digest of meme coin news – this week, we take a look at MOODENG, Arthur Hayes’ latest purchases, and more!
This week read about:
• Meme Coin News: Market Highlights
• MOODENG Surges 400% as Whales Pour in Millions
• Gotbit Hedge Fund and SunPump Partner to Bolster Meme Coin Space
• Arthur Hayes Buys PEPE, MOG, PONKE
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Meme Coin News: Market Highlights
Over the past 24 hours, the meme coin market capitalization has decreased by 3% to $55 billion.
Most meme coins have seen their prices drop in this period.
Neiro on ETH (NEIRO) recorded the highest loss of 16.4% to $0.072.
Next up is Bellscoin (BEL) with a 15.4% drop to $0.9031 and Basenji (BENJI) with a 12.9% fall to $0.02441.
Three more coins marked double-digit decreases, while the rest are down below 8% each.
On the other hand, the day’s winner is Smoking Chicken Fish (SCF), which is up 30.7% to the price of $0.09412.
It’s followed by Baby BNB (BABYBNB)’s 30% rise, while the other coins on the green list saw increases below 20%, most below 5%.
Only four of the top 10 coins have seen their prices turn green in this timeframe.
Dogwifhat (WIF) sits at the top of this list, with a nearly 6% rise to the price of $2.44.
BONK and MEMECOIN follow, with a 4% and 3% rise, respectively, while PEPE increased less than 0.5%.
On the red side, Baby Doge Coin (BABYDOGE) fell the most in this category (6%), followed by TURBO (4.7%).
The top two coins per market cap are also down today. Dogecoin (DOGE) fell 2.9% to $0.12265, while Shiba Inu (SHIB) decreased by 3.84%, trading at $0.00002.
MOODENG Surges 400% as Whales Pour in Millions
The recently launched Moo Deng (MOODENG) coin has seen quite a surge in popularity – and its price – over the past week.
The Solana-based coin was launched on September 11, less than 20 days ago. It’s inspired by the super-cute Thai baby pygmy hippo named Moo Deng.
Let’s talk price.
Over the last 24 hours, MOODENG appreciated 5.8%, trading at $0.2355.
Notably, in the last week, it surged 406%.
It actually hit its all-time high of $0.3387 on September 28, falling 28% since.
With this weekly increase, it is outperforming the crypto market in general and the meme coin market in particular.
Notably, most traders buy and trade the coin on XT.COM. The most active trading pair on the exchange is MOODENG/USDT, with a trading volume of $4.2 million in the last 24 hours.
It’s 24-hour trading volume stands at $152.9 million. With a circulating supply of 990 million MOODENG, its market capitalization is $233.56 million, placing it in the 262nd place.
Notably, MOODENG made major news globally – in crypto and TradFi publications – when a trader turned a $1,300 investment into $3.4 million.
Many, however, also commented on the legitimacy of the gain and the probability of cashing it out.
And this person wasn’t the only one making major gains.
This guy spent only 6 $SOL($815) to buy 30.1M $MOODENG 17 days ago, now worth $9.4M, a 11,534x return! #Moodeng https://t.co/83CP9Vn3jb pic.twitter.com/zJpCFAr3rQ
— Lookonchain (@lookonchain) September 28, 2024
Notably, whales keep pouring in thousands – even millions – into the project.
So crazy buying of #MOODENG!
The whale withdrew 2,000 $SOL($311K) from #OKX to buy $MOODENG again!
So far, the whale has spent 27,848 $SOL($4.34M) to buy 17.73M $MOODENG at $0.245, becoming the second-largest holder of $MOODENG.https://t.co/MNpTOqbZ6z pic.twitter.com/r0BRHdL6Ew— Lookonchain (@lookonchain) September 29, 2024
Others weren’t as lucky, missing the opportunity to profit. Such is the way of the trade.
What an unlucky guy!
The 21M $MOODENG he sold for $297 is now worth $6.3M! #MOODENG
He discovered $MOODENG one hour after it started trading and spent 26 $SOL($3,537) to buy 21M $MOODENG, which had a $210K market cap at the time.
However, when $MOODENG dropped, he panicked and… pic.twitter.com/XUt9lAk2yU— Lookonchain (@lookonchain) September 28, 2024
Note: The market is volatile and prices drop fast. Make sure to always do your research before investing and never invest more than you are prepared to lose.
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Gotbit Hedge Fund and SunPump Partner to Bolster Meme Coin Space
Performance-focused market maker Gotbit Hedge Fund and SunPump, a meme coin launchpad on the TRON blockchain, have announced a collaboration to strengthen the meme coin ecosystem.
According to the press release, the partners plan to drive growth and innovation for meme coin projects.
Gotbit Hedge Fund said that it has been “a consistent supporter” of SunPump’s meme projects.
Therefore, it plans to improve market opportunities for these projects by combining its resources and market-making expertise with SunPump’s vision.
“This official partnership marks one more step in their shared commitment to expanding the meme coin space,” the duo said.
We’re excited to announce our strategic partnership with @SunPump!
This collaboration strengthens our presence in the MEMEs projects on @Trondao, paving the way for accelerated growth and new opportunities
Flex your MEME narratives & guess the next 1B Memecoin on TRON… https://t.co/4ryercxSeT pic.twitter.com/Q5ej6j0IhR— Gotbit Hedge Fund (@gotbit_io) September 27, 2024
Alex Andryunin, Founder and CEO of Gotbit Hedge Fund, commented that a “fascinating” trend we are now observing is the memecoin sector “taking on a life of its own.” It is growing separately from the broader crypto market.
“Multiple chains are now positioning themselves for the next surge, drawing in new waves of retail investors, becoming hotspots of meme token activity, and signaling many exciting launches ahead,” said the CEO.
Andryunin said this collaboration will contribute to this transformation.
“Working together, we will do our part in building a sustainable meme coin environment that can thrive for a long time to come,” he added.
You might also like Tron’s SunPump Meme Coin Launchpad Outperforms Solana’s Pump.fun
Arthur Hayes Buys PEPE, MOG, PONKE
Billionaire Arthur Hayes, the former CEO of BitMEX, recently announced that he is building his meme coin portfolio, asking for subscribers’ suggestions on what to invest in.
He noted that ‘UPtober’ is on its way – a month of the bullish crypto market.
Fam I need some help. It’s about to be UPtober and I need a PORTFOLIO of memecoins. I got $MOTHER, $MOG, $PEPE. Shill me your best memecoin.
— Arthur Hayes (@CryptoHayes) September 28, 2024
So far, said the co-founder, he has invested or is interested in MOTHER, MOG, and PEPE.
Not long after that post, he announced he had purchased some MOG.
According to Lookonchain, Hayes bought 24.39 billion PEPE on the crypto exchange Binance, investing approximately $252,680 into the coin.
Arthur Hayes(@CryptoHayes) is calling for #MEMEcoins $MOTHER, $MOG and $PEPE!
On-chain data shows that he withdrew 24.39B $PEPE($252.68K) from #Binance 20 minutes ago.
Address:
0x6cd66dbdfe289ab83d7311b668ada83a12447e21 pic.twitter.com/MC9ZPF2Eg4— Lookonchain (@lookonchain) September 27, 2024
Following this, on September 28, he announced another purchase, saying he added PONKE to the list.
$PONKE the memes be dank.
Yachtzee— Arthur Hayes (@CryptoHayes) September 28, 2024
The coins generally tend to rise on the news that a well-known figure has invested in the project – at least initially.
PEPE has dropped around 1% over the past 24 hours, but it is up 36.5% in a week. Indeed, it recorded increases on September 26 and 27.
MOG, too, is down nearly 1% in a day but is up 30% in a week, while PONKE appreciated nearly 8% in 24 hours and 14% in seven days.
Celebrity Iggy Azalea’s MOTHER increased by 0.5% and 59% in the same timeframes, respectively.
This is not to say that the increases were solely the result of Hayes’ investment. After all, many other meme coins have recorded rises as well.
However, his participation may have been a factor to some degree.
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