Memecoins
The spectacular return of Memecoin in the context of the cryptocurrency crisis
10.18am ▪ 3 minute read ▪ by Fenelon L.
While the cryptocurrency market is experiencing an overall slowdown, some memecoins in The Open Network (TON) ecosystem are posting surprising gains in the last 24 hours, defying the bearish trend.
An unexpected bullish trend on TON despite the overall market decline
According to data from CoinGecko, a reference platform for monitoring cryptocurrency prices, some memecoins in TON ecosystem have seen a surprising increase in the last 24 hours. Resistance Dog (REDO) jumped 32%, The Resistance Cat (RECA) jumped 49% while Ton Inu (TINU) rose 9.5%.
This bullish dynamics It contrasts with the prevailing bearish trend in the overall cryptocurrency market. While the total market capitalization fell just 0.1% to $2.54 billion, a relatively resilient performance, the two giants Bitcoin and Ethereum each lost around 0.2%.
The Block’s GMCI Meme index, which tracks the main memecoins by market capitalization, fell by as much as 2.88%. These statistics illustrate the unique, even counterintuitive, trajectory of memecoin anchored in the TON ecosystem in the face of the current panic that is sweeping the cryptocurrency market.
TON, an atypical and promising crypto ecosystem
Born from the teams behind the popular messaging app Telegram, the TON platform integrates particularly innovative blockchain and cryptographic features. Although it is a native token Toncoin fell 0.4% to $7.78, memecoins anchored in its ecosystem seem to stand out in this turbulent market environment.
However, these recent fluctuations have not stopped Bitfinex analysts from sounding the alarm about the risks of a prolonged “crypto winter.” They specifically cite growing regulatory pressures as the main threat looming over the entire cryptocurrency industry.
If confirmed, the unexpected bullish momentum of TON memecoins could represent a rare reason for optimism in a market plagued by prevailing uncertainty.
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Fenelon L.
Passionate about Bitcoin, I want to explore the meanings of blockchain and cryptocurrencies and participate in my discoveries with the community. My dream is to live in a world where privacy and financial freedom are guaranteed for everyone, and I firmly believe that Bitcoin is the tool that can make this possible.
DISCLAIMER
The views, thoughts and opinions expressed in this article are solely those of the author and should not be relied upon as investment advice. Do your research before making any investment decisions.