Memecoins
If anime fans like it, markets will buy it. Will KAI be the next step?
Over the past 30 days, ending May 14, meme coin prices have risen even as the overall market has continued to capitulate from mid-March highs after Bitcoin hit a two-year-plus all-time high. Pepe Coin (PEPE), Bonk (BONK), and Floki (FLOKI) led cryptocurrency gains. Floki surged 34% on cryptocurrency exchanges. Pepe hit the ground running at 110%.
Meanwhile, Bitcoin ETF issuer VanEck launched to Meme Coin Index, great opportunity for dog money on Wall Street. Meme finance is so hot in May that the original meme stock, Gamestop (NYSE:GME), is up more than 100% this week, after Reddit forum member WallStreetBets who led its first bull run in January 2021, posted for the first time in three years.
Meme Coins: Are the Dog Days Over?
As the CryptoBubbles.net chart above shows, the ROI is coming in very nicely this year:
When it first launched just last year, PEPE boldly predicted: “The Dog Days Are Over.”
Not that electronic currencies like Dogecoin, Pepe Coin, and Bonk are going anywhere. With potentially millions of users and market capitalizations of $21 billion, $4.6 billion and $1.5 billion respectively for these three coins, they are now small economies in their own right.
And Dogecoin was once a $4.6 billion market cap coin, and Pepe was once a $1.5 billion “joke” blockchain project. So they may be on track for greater adoption in the future. Dogs like Dogecoin, Bonk, and Shiba Inu are probably here to stay.
But their early return rates probably aren’t.
The currencies of the great doges are still valid, but they are now older memes. Unfortunately, cryptocurrency investors are slow to get these pieces into their exchanges, but they have already overcome the ultra-steep initial adoption curves of so many new internet currencies in the 2020s.
Doge coins are simply no longer secret, new currencies that begin their product life cycle with a value of essentially $0 on the open market of cryptocurrency exchanges.
Early investor returns on the most successful meme currency projects are so incredible that most people won’t bother taking these opportunities even if they absurdly outperform Bitcoin and most stocks.
The Best Kept Secret in Cryptocurrency Markets Altcoins
After just 12 months on the market, PEPE may already be a conservative investment that can’t provide the kind of moonshot price launches that successful new projects can.
So if the dog days are over and so are the frog days, where’s an impatient altcoin degenerate with an aversion to low losses looking for new meme coins that can really take flight?
While this is probably not a strategy that a typical financial advisor would recommend, or that you would find in any classic investing text, and it actually seems completely crazy, one way to evaluate the new prospects of meme coins is to ask: would they Anime fans do you understand this?
Dogecoin was the first meme coin and today it is one of the top 10 cryptocurrencies by market capitalization. The effigy that adorns the coin and many of its successful peers is the Doge meme from 2013.
The Shiba Inu is a popular Japanese dog breed, so anime fans love it.
The Pepe meme, meanwhile, has become popular on the 4/chan forums. Power users of this *not safe for work* website are huge anime fans.
One theory gaining traction in the altcoin community in Q2 2024 is that cat memes will be next for adorable big drops and huge super cute manifestations.
Will Cat Memes Be Ethereum’s Next Big Opportunity?
Anime fans are crazy about cats.
In fact, if you Google “anime dogs” you only get 148 million results (two commas). If you search for “anime cats” you get 1.7 billion results (three commas!).
A new meme coin project with a cat meme denomination, Kai Cat (KAI) is coming to Ethereum presale in May. It’s the last chance altcoin gem hunters have to buy the coin at the same fixed price before it starts floating as investors trade it on multi-billion crypto liquidity markets.
After the stunning success of PopCat (POPCAT) earlier this year, it may be worth looking into for investors looking to take the next big trip to the moon for some of their extra savings that they can risk comfortably and responsibly.
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