The crypto space has witnessed a deluge of new meme coin projects launched in a short time frame. Some of these tokens have seen incredible gains, while others plummeted after a brief moment in the spotlight. One example is $SLUTS, which captured attention after a viral tweet by social media influencer Andrew Tate. Despite denying knowledge of the project’s launch, the token surged 4.95% in a day to trade at $0.05227.
In recent weeks, low-valued crypto assets known as shitcoins have gained traction amid macroeconomic events affecting market leaders like Bitcoin and Ethereum. Tokens such as $LFG and $WAGMI have displayed remarkable growth with minimal information available about them. However, investors are shifting their focus towards more promising meme projects with long-term potential.
One such project is AiDoge, an AI-powered meme generator blockchain project. AiDoge allows users to create contextually-relevant memes in real-time and rewards top meme creators with its $AI token. The token has garnered over $10.4 million in presale funds since its April debut.
Another notable project is Copium, which aims to lift the spirits of traders who have suffered losses through humor and shared experiences. $COPIUM has seen rapid growth, reaching a market cap of over $8 million just minutes after its launch.
Love Hate Inu is a meme project that offers users a platform to vote on trending online polls and earn digital tokens. With a successful presale completed, the $LHINU token is set for exchange listings, such as OKX. The project aims to disrupt the $3.2 billion online survey market, offering companies a secure way to gather public feedback on product launches and feature upgrades.
Even popular TV shows like SpongeBob SquarePants have inspired meme projects, with the $SPONGE token surging over 1,800% shortly after launch. While this token lacks intrinsic utility, it benefits from the hit TV show’s global success.
Lastly, $PEPE has served as a catalyst for the meme coin market, amassing a market valuation of $1.6 billion in under a month. The token, based on Matt Furie’s Pepe the Frog meme, has made many investors millionaires. Despite controversies, such as being labeled a ‘hate symbol’ by Coinbase, $PEPE continues to demonstrate bullish signals.
As the tide shifts towards more promising meme projects, the price of the Sluts token has dropped over 12% on the day. Investors may be divesting from short-lived tokens and seeking stable, long-term investments in the meme coin space.
Source: Cryptonews
