Memecoins
3 Memecoins to Watch in July 2024 | BONK, TEA, and TrumpCoin Spotlight
BONK Price Action, July 2024 | BONK/USD TradingView
In traditional memecoin markets, June 2024’s performance suggests that investors are now showing a preference for small- and mid-cap memes over mega-cap assets like DOGE and SHIB.
In reference to this, PEPE has risen to 2 new all-time highs in May 2024, while DOGE and SHIB have struggled for traction. In particular, since US fund manager VanEck applied for Solana spot ETFs in late June, investor attention seems to be shifting towards Solana-hosted memecoins.
If approved by the US SEC, billions of dollars of investment from institutional players could flow into Solana’s memecoin ecosystem. This puts Dogwifhat (WIF) and BONK on the verge of a strong recovery in July 2024.
As seen in the chart above, BONK has already rallied 47% since VanEck filed the spot SOL ETF last week. If positive developments follow, BONK could be one of the memecoins to watch in July 2024.
Memecoin Product: Exploring a New Trend
Product memecoins are the latest trend shaking up the crypto memecoin market. Unlike their animal-themed predecessors in the legacy meme space, these food-themed tokens tap into everyday products to foster a sense of community and offer the potential for real-world utility. The early success stories of BEER and WATER, coupled with the rapid growth of TEA, demonstrate the potential of this new wave.
Marking a global shift from animal-based memecoins, coins like $BEER had a pre-sale of 30,000 SOL and grew over 330% in a month, while the $WATER campaign raised $41 million.
The latest memecoin product to hit the market is $TEA, a token that aims to combine the elegance of tea culture with the fast-paced world of cryptocurrency.
TEA’s core narrative revolves around the unifying and stress-relieving properties of tea, attracting a rapidly growing customer base. Community of 3 million users. With a structured tokenomics model and a pre-sale starting July 1st, $TEA focuses on DeFi features, community engagement, and social responsibility initiatives.
On July 1, TEA raised over $3.4 million within 10 minutes of launching, before hitting the $4.5 million milestone on July 3. Having closed 4 out of 5 rounds in a relatively short period of time, this signals investor interest in the newly launched asset.
While the long-term viability of these tokens remains to be seen, their focus on recognizable products and the potential for real-world benefits such as community initiatives and unique perks paint a promising picture. This shift suggests a move toward memecoins with a more defined purpose beyond pure speculation.
Political Memecoins: DJT Could Breakout as Donald Trump’s Lead Widens
Political memecoins are a unique subset of cryptocurrencies that blend the world of digital assets with political commentary and satire. These coins often aim to attract attention and engagement from politically motivated individuals and communities.
While they share the humorous, meme-centric nature of traditional memecoins, political memecoins also serve as a form of social commentary, reflecting the creators’ views or critiques of the political landscape.
In recent months, figures like Elizabeth Whoren (WHOREN) and MAGA and Jeo Boden (BODEN) have all made huge strides in terms of media traction. However,
DJT, linked to former US President Donald Trump, emerged as the standout performer towards the end of June 2024.