{"id":652033,"date":"2024-11-07T19:00:17","date_gmt":"2024-11-07T19:00:17","guid":{"rendered":"https:\/\/wncen.com\/?p=652033"},"modified":"2024-11-07T11:08:52","modified_gmt":"2024-11-07T11:08:52","slug":"fueled-by-election-buzz-memecoins-soar-22-on-pure-speculation-report","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/fueled-by-election-buzz-memecoins-soar-22-on-pure-speculation-report\/","title":{"rendered":"Fueled By Election Buzz, Memecoins Soar 22% On Pure Speculation\u2014Report"},"content":{"rendered":"

Memecoins are crucial to the blockchain and the cryptocurrency community, and Binance Research highlights their unique value proposition.<\/p>\n

According to Binance rerport<\/a>, the rise of memecoins coincides with the expansion of the world\u2019s money supply. As money and capital become readily accessible, risk-on investments like Bitcoin, altcoins, and memecoins become attractive options.<\/p>\n

Related Reading: Solana Rockets Past BNB To Claim Coveted 4th Spot In Crypto Ranks<\/a><\/div>\n

Although memecoins<\/a> promise a strong upside, they are also a high-risk investment since they\u2019re highly speculative and have few use cases. However, their recent performance seems to defy the odds\u2014their market cap was up by 22% immediately after the US election.<\/p>\n

Doge and PEPE coins are two of the top gainers among coins this Wednesday, adding 15% and 11% to their values, respectively.<\/p>\n

\"\"<\/p>\n

Binance Research: 75% Of All Memecoins Were Launched Last Year<\/h2>\n

According to a November 2024 Binance<\/a> research, meme currencies are growing in popularity because people are now looking at risk-on investments. The report adds that the global money supply is expanding, and many retail investors are looking at alternative ways to generate wealth. This niche\u2019s market value has tripled since 2022, thanks to these coins’ popularity.<\/p>\n

\"\"<\/p>\n

Binance\u2019s report also mentioned the regulator\u2019s distrust of Initial Coin Offerings (ICOs). With this order, developers will now consider private venture capital funding (VCs) to promote their projects. Experts call this the \u201cLow Float and High FDV\u201d approach, meaning only a few tokens are available for trading but boast a higher valuation.<\/p>\n

Memecoins Remain An Accessible Investment Option<\/h2>\n

While the approach benefits developers and early adopters, it may put regular investors at risk. As such, many retail investors look for memes as alternative investment options. These are the primary reasons why meme tokens are popular and highly accessible to all.<\/p>\n

\"\"
As of today, the market cap of cryptocurrencies stood at $2.47 trillion. Chart: TradingView<\/a><\/figcaption><\/figure>\n

Binance adds that roughly 75% of all meme currencies were launched last year. The Binance team acknowledged that many found launching these projects easy, but sustaining their operations is challenging. According to the same report, around 97% of all memecoins have died, and the rest struggle but managed to ride on the election hype this year.<\/p>\n

Related Reading: Why One Analyst Says Now\u2019s The Time To Buy XRP\u2014Before It Hits $14<\/a><\/div>\n

Memecoins Jump by 22% In A Day, Thanks To Election Hype<\/h3>\n

While these coins are considered community-driven and accessible investments, they\u2019re also highly speculative. Many in the community have placed their bet on a \u201cmeme coin supercycle\u201d to coincide with Bitcoin\u2019s run. The bet paid off, and the memecoins\u2019 market cap is now above $73 billion, reflecting a 22% increase.<\/p>\n

Featured image from xtsupport.zendesk.com, chart from TradingView<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Memecoins are crucial to the blockchain and the cryptocurrency community, and Binance Research highlights their unique value proposition. According to Binance rerport, the rise of memecoins coincides with the expansion of the world\u2019s money supply. As money and capital become readily accessible, risk-on investments like Bitcoin, altcoins, and memecoins become attractive options. Related Reading: Solana Rockets Past BNB To Claim Coveted 4th Spot In Crypto Ranks Although memecoins promise a strong upside, they are also a high-risk investment since they\u2019re highly speculative and have few use cases. However, their recent performance seems to defy the odds\u2014their market cap was up by 22% immediately after the US election. Doge and PEPE coins are two of the top gainers among coins this Wednesday, adding 15% and 11% to their values, respectively. Binance Research: 75% Of All Memecoins Were Launched Last Year According to a November 2024 Binance research, meme currencies are growing in popularity because people are now looking at risk-on investments. The report adds that the global money supply is expanding, and many retail investors are looking at alternative ways to generate wealth. This niche\u2019s market value has tripled since 2022, thanks to these coins’ popularity. Binance\u2019s report also mentioned the regulator\u2019s distrust of Initial Coin Offerings (ICOs). With this order, developers will now consider private venture capital funding (VCs) to promote their projects. Experts call this the \u201cLow Float and High FDV\u201d approach, meaning only a few tokens are available for trading but boast a higher valuation. Memecoins Remain An Accessible Investment Option While the approach benefits developers and early adopters, it may put regular investors at risk. As such, many retail investors look for memes as alternative investment options. These are the primary reasons why meme tokens are popular and highly accessible to all. Binance adds that roughly 75% of all meme currencies were launched last year. The Binance team acknowledged that many found launching these projects easy, but sustaining their operations is challenging. According to the same report, around 97% of all memecoins have died, and the rest struggle but managed to ride on the election hype this year. Related Reading: Why One Analyst Says Now\u2019s The Time To Buy XRP\u2014Before It Hits $14 Memecoins Jump by 22% In A Day, Thanks To Election Hype While these coins are considered community-driven and accessible investments, they\u2019re also highly speculative. Many in the community have placed their bet on a \u201cmeme coin supercycle\u201d to coincide with Bitcoin\u2019s run. The bet paid off, and the memecoins\u2019 market cap is now above $73 billion, reflecting a 22% increase. Featured image from xtsupport.zendesk.com, chart from TradingView<\/p>\n","protected":false},"author":557,"featured_media":652040,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[142,428,6664,88164,4313],"class_list":["post-652033","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-altcoins","tag-bitcoin","tag-crypto","tag-memecoins","tag-us-elections"],"acf":[],"yoast_head":"\nMemecoins Soar 22% On Pure Speculation\u2014Report<\/title>\n<meta name=\"description\" content=\"Memecoins are crucial to the blockchain and the cryptocurrency community, and Binance Research highlights their unique value proposition. 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/wncen.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Fueled By Election Buzz, Memecoins Soar 22% On Pure Speculation\u2014Report","url":"http:\/\/wncen.com\/news\/fueled-by-election-buzz-memecoins-soar-22-on-pure-speculation-report\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/fueled-by-election-buzz-memecoins-soar-22-on-pure-speculation-report\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/11\/a_f3b221.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/11\/a_f3b221.jpg?fit=1600%2C914"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["altcoins","bitcoin","crypto","memecoins","us elections"],"dateCreated":"2024-11-07T19:00:17Z","datePublished":"2024-11-07T19:00:17Z","dateModified":"2024-11-07T19:00:17Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Fueled By Election Buzz, Memecoins Soar 22% On Pure Speculation\\u2014Report\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/fueled-by-election-buzz-memecoins-soar-22-on-pure-speculation-report\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/fueled-by-election-buzz-memecoins-soar-22-on-pure-speculation-report\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/11\\\/a_f3b221.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/11\\\/a_f3b221.jpg?fit=1600%2C914\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"altcoins\",\"bitcoin\",\"crypto\",\"memecoins\",\"us elections\"],\"dateCreated\":\"2024-11-07T19:00:17Z\",\"datePublished\":\"2024-11-07T19:00:17Z\",\"dateModified\":\"2024-11-07T19:00:17Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/11\/a_f3b221.jpg?fit=1600%2C914","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/652033","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=652033"}],"version-history":[{"count":3,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/652033\/revisions"}],"predecessor-version":[{"id":652042,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/652033\/revisions\/652042"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/652040"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=652033"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=652033"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=652033"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}