Meme Coin News: The Hottest Meme Coins and BONK’s Partnership with TipLink
By Sead Fadilpašić
Updated on May 13, 2024, 11:41 EDT
Get your weekly, condensed update on meme coin news.
This week, we bring you the following highlights:
Meme Coin News: Market Overview
The meme market capitalization has experienced a 1.8% increase in the past 24 hours, reaching a total of $52.2 billion.
Dogecoin (DOGE) continues to dominate the market with a market cap of $20.76 billion.
In second place, Shiba Inu (SHIB) boasts a market cap of $13.84 billion.
Pepe Coin (PEPE) holds the third position with a significantly smaller market cap of $3.7 billion.
DOGE also leads in terms of 24-hour market volume, with a total of $52.6 billion.
Dogwifhat (WIF) takes second place with a trading volume of $889 million.
This represents a substantial difference between the top two positions.
Source: cryptonews.com/coins/meme-coins/
Looking at the price movements in the past 24 hours, three out of the top 10 meme coins have experienced a decline.
WIF, COQ, and MEME have all decreased between 0.5% and 2%.
SHIB stands out as the best performer, with a 4% price appreciation to $0.00002.
BONE follows closely with a 2.6% increase, trading at $0.57782.
The remaining coins have seen gains between 0.5% (BABYDOGE) and 2% (DOGE).
However, all of these coins have seen a decrease in price over the past seven days.
WIF has dropped by 19%, DOGE by 14.5%, FLOKI by 12.8%, SHIB by 8.1%, and PEPE by 3%, among others.
Base Chain Emerges as a Hub for Meme Coins
Since its launch, Base has been gaining more attention and may soon surpass Solana, which would greatly benefit the meme coins it hosts.
There are several reasons for this potential shift. Coinbase’s Ethereum layer-2 blockchain is anticipating significant ecosystem developments, and on-chain metrics also support this trend.
Key developments include the Base Chain Smart Wallet and the ‘Magic Spend’ smart contract.
In terms of on-chain metrics, Base’s 24-hour trading volume currently stands at $125.47 million, according to DeFiLlama.
At the beginning of the year, this number was just $21.63 million.
Additionally, Base’s total value locked (TVL) has reached $1.508 billion, approaching its all-time high of $1.65 billion.
To put this into perspective, at the start of the year, the TVL was $437 million, marking a significant 245% increase over four months.
Source: defillama.com
As for Solana, its TVL has increased from $1.4 billion at the beginning of the year to $4.02 billion, representing a 187% increase.
The current 24-hour volume for Solana is $598.93 million, compared to $545.88 million on January 1.
In addition to the discussion around Base potentially surpassing Solana, there is also a debate regarding which chain is faster.
BRETT Leads the Way Among Base-Based Meme Coins
Taking a closer look at the Base chain, let’s explore the top 10 meme coins within its ecosystem.
The market capitalization of these Base meme coins currently stands at $877 million.
At the top of the list is Brett (BRETT) with a market cap of $289.4 million.
DEGEN follows closely behind with a market cap of $235.1 million.
These two coins alone contribute $524.5 million out of the total $877 million.
TOSHI is the only other coin with a market cap surpassing $100 million.
Source: coingecko.com
Over the past 24 hours, only three coins – NORMIE, HIGHER, and BRETT – have seen a decline in price. While the first two have fallen by around 10%, the latter is down by 4%.
Among the green coins, BOOMER stands out as the top performer, experiencing a nearly 40% increase to $0.03265.
DOGINME takes a distant second place with a rise of 12% to $0.0002355.
The remaining coins have seen gains between 0.5% and 5%.
However, when looking at the seven-day picture, all coins have experienced a decline in price.
HIGHER and NORMIE have seen the largest drops, each decreasing by over 30%.
Meanwhile, DEGEN has recorded the highest 24-hour trading volume of $26.6 million.
Mfercoin (MFER) follows closely behind with a volume of $9.3 million.
BONK Introduces Email Login and Launches E-cards
Meme coin BONK has announced several exciting developments this week.
On Wednesday, the project announced its partnership with TipLink, a lightweight wallet designed to simplify the transfer of digital assets by using email login on BONKrewards and allowing users to lock their coins.
Currently, over 3.28 trillion BONK are locked on the platform.
According to TipLink’s documentation, users can create a TipLink and send it to anyone over any platform, such as text, Discord, email, and more.
“The amazing thing is, the link is the wallet,” the project explained.
TopLinks can hold SOL, SPL tokens, non-fungible tokens (NFTs), and semi-fungible tokens (SFTs), offering decentralization and self-custody without the need for seed phrases, key management, apps, or browser extensions.
Furthermore, BONK announced the launch of BONKmark E-cards just in time for Mother’s Day.
Thanks to the collaboration with TipLink, users can now send BONK anywhere using only email and allow moms worldwide to use their BONK.
The e-cards feature various designs for Mother’s Day, celebrations, and milestones.
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