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Every time a dog-themed memecoin like Dogecoin (DOGE) or Shiba Inu (SHIB) goes mainstream, another memecoin seems to be lurking in the shadows, waiting to pounce on its own hype train .
The value of the latest meme coin Bonk (BONK), a Shiba Inu-themed Solana token, has risen more than 400% this month, according to CoinMarketCap. data. Last week, hype for the token and the Solana Saga mobile phone skyrocketed after owners of the phone learned they could claim 30 million BONK tokens, worth approximately $560 at the time of issuance.
Sagaphone sold out 20,000 units in the US soon after, and Bonk’s price hit an all-time high six days ago. Solana (SOL), the Layer 1 blockchain-connected cryptocurrency that Saga and Bonk are focusing on, also rose more than 21% this week.
Since then, the hype around Bonk has dissipated, but other Solana-based meme coins like Dogwifat (WIF) have also benefited greatly from this interest.
literal token Image of a Shiba Inu wearing a knit cap, At the time of writing, Dogwifat has surged 42.46% in the past 24 hours and 864% in the past 7 days. According to CoinGecko, the token’s market capitalization is currently around $218 million. data. By comparison, Bonk’s market capitalization is more than five times that at $1.14 billion.
Of course, these aren’t the first meme-driven dog tokens, and I doubt they’ll be the last. Still, these market movements indicate that retail interest and appetite is returning to cryptocurrencies after a long bear market.
what is happening in web3
- Worldcoin no longer offers Orb certification in India, Brazil, and France
- Why asset tokenization could be the main driver for the growth of cryptocurrencies (TC+)
- Cryptocurrency valuations “back to reality” in 2023, but venture capitalists expect them to rise again in 2024 (TC+)
- AR platform Really launches ‘Fandime’ NFT to reward users with exclusive movie-related content
- EthSign brings DocuSign-like functionality to Line, Telegram with a Web3 twist
- WazirX trading volume falls off a cliff amid India’s crypto surveillance
- Why 30 Web3 founders are optimistic about 2024 (TC+)
- Robinhood is delving deeper into cryptocurrencies (TC+)
latest pod
this week's episode, Jacqueline We interviewed Staci Warden, CEO of the Algorand Foundation, the organization behind the layer 1 blockchain Algorand.
Previously, Warden worked at the Milken Institute, where he oversaw initiatives related to capital markets development, fintech financial inclusion, cryptocurrency, and blockchain.
Prior to that, he worked at JPMorgan, where he led public sector coverage as executive director. She also worked at Nasdaq and the U.S. Treasury. Worden serves on the advisory boards of the United Nations Capital Development Fund, the European Parliament's Science and Technology Options Assessment, and the American Financial Technology Association.
As for Algorand, the Singapore-based blockchain aims to be fast, secure, decentralized, and the “greenest” carbon-negative network. At the time of recording, there were approximately 615,000 active addresses.
We discussed the Algorand ecosystem, decentralization, and real-world use cases being built during a bear market.
We also discussed:
- Asset tokenization
- The foundation behind blockchain
- Challenges in expanding business in the United States
- Algorand’s plans for 2024
apply Chain reaction upon apple podcast, spotify Or catch up on the latest episodes using your favorite pod platform. If you like what you hear, please leave a review.
follow the money
- Financial Web 3 Data startup Tres raises $11 million in Series A round
- Gaming giant Nexon has invested $100 million in its Web3 venture, MapleStory Universe
- web3mine, an innovation lab focused on building Web3 tools, raises $6 million in seed round
- Banking-as-a-Service platform provider Fiat Republic raises $7 million in seed expansion
- Fyde Treasury raises $3.2 million seed round to help manage and grow on-chain crypto asset holdings
This list was compiled using information from Messari and TechCrunch's own reporting.
what else are you writing?
Ready to step outside the world of Web3? Here are some TechCrunch articles that caught our attention this week.
- Electric scooter company Bird files for bankruptcy
- Secondary investors say some valuations remain too high (TC+)
- Tesla asks for pause in federal racial discrimination lawsuit while finalizing other lawsuits
- 8 predictions for AI in 2024
- Small, affordable EVs lost in 2023
Follow us on Twitter @Jacqmelinek Get the latest cryptocurrency news, memes, and more.
Source: techcrunch.com
