RNT coin from Tate, MOTHER, BRETT and more

TL;DR

• New meme coins, including MOTHER, RNT and others, have made headlines in recent days.
• The growing popularity is due to price volatility and associated controversies.

The latest sensations on meme coins

According to many industry players, the cryptocurrency market has been in a bullish phase since the beginning of the year. Bitcoin (BTC) reached up in mid-March it reached a new all-time high of over $73,500, while Ethereum (ETH) briefly surpassed the $4,000 mark.

However, meme coins appear to be the rock stars of this bull cycle. Many of them, including dogwifhat (WIF), Bonk Inu (BONK), Pepper (PEPPER), Floki Inu (FLOKI), and others, have made headlines numerous times in recent months after seeing impressive price increases. They have also gained support from major cryptocurrency exchanges and prominent figures.

While the aforementioned have recently slowed down their progress, others have entered the market with a bang.

An obvious example is MOTHER – a cryptocurrency announced by Australian model and rapper – Iggy Azalea. Its price reached an all-time high of around $0.23 on June 7, while the market capitalization approached $300 million. Currently, MOTHER is worth $0.19 (according to data from CoinMarketCap), which represents a 150% increase on a weekly scale. The market capitalization has fallen to around $187 million.

MOTHER, Source: CMC

The token has been the subject of some controversy, triggering responses from well-known figures. Ethereum co-founder Vitalik Buterin was among those who criticized it, said:

“So far I feel quite dissatisfied with the “celebrity experimentation of this cycle”. […] Ashton and Mila’s Stoner Cats was far more honorable than anything we’ve seen in the celebrity meme coin era of 2024 — at least there was an actual show funded.

Andrew Tate, a former kickboxer and current online influencer known for sharing his wealth and misogynistic views, also introduced his own meme coin. The asset, called RNT, surpassed the price of $0.05 on June 9 before falling to the current level of around $0.037.

Some may see the token’s emergence as a surprise considering Tate’s past position that he will “never launch a cryptocurrency.”

The best performers

Other recently emerged meme coins that have taken center stage recently include Beer Coin (BEER) and Brett (BRETT). The first is based on the Solana ecosystem and (somewhat predictably) associated with the alcoholic beverage.

Its price increased by 150% on a weekly basis, while its market capitalization peaked at $300 million earlier in the month. Currently, the market capitalization is around $270 million.

BRETT’s success showed even more significant progress. At the moment, the frog-themed asset is worth around $0.17, a 400% increase on a 30-day scale. Its market capitalization rose above $1.7 billion, ranking BRETT as the 65th largest cryptocurrency and the 7th largest in its kingdom.

BRETT, Source: CMC

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