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Despite previous hype and community support, these coins may face further drops in market cap and prices due to speculation and lack of stability.

The decrease in value of three meme coins is a complex problem that goes beyond issues within specific projects. These tokens have reached a critical point as market forces are finally catching up after a significant delay. In order to offset their lack of actual worth and technical support, meme coins heavily rely on viral marketing and social media activity. However, these methods only provide temporary results and require constant hype to maintain them.

It may seem unlikely for a major investor to sell an asset that has produced a 1,000% return. However, by monitoring large transactions, we can observe numerous instances of meme coins being sold. In the first three months of 2024, there was a spike in purchases of meme coins, causing prices to increase. Speculation often leads to overbought conditions and profit-taking, resulting in a drop in prices. Even jokes on social media are unable to prevent this downward trend.

One example is Bonk (BONK-USD), which gained popularity through internet memes and satire on the Solana (SOL-USD) blockchain. During a market downturn in 2022, Bonk offered hope for a bull market and attracted investors hoping for a repeat rally. However, its peak price of $0.000024 was followed by a steady decline to $0.000001 in late 2023 as attention shifted to more established coins. Despite the introduction of BonkSwap and BonkDex, the token remains primarily for entertainment purposes. Recently, there has been a decrease in Solana-based meme tokens, including Bonk, which has dropped by 3.5%. The token’s price has dropped below its 100-day EMA, making it a meme coin that is recommended to sell. Despite efforts from whales and boosters, investor interest in Bonk is low.

Another example is Dogwifhat (WIF-USD), which has also faced selling pressure recently. Its price dropped to around $2, but social media promotions and community activity helped stabilize it. However, the token’s investors have shown a lack of professionalism as they did not respond to important news. When the trend shifts, a sharp drop is expected. Despite its transformation from an unknown token to the 35th-ranked meme coin in terms of market capitalization, Dogwifhat may return to being an unwanted coin. It has already experienced a drop from $4.85 to $3.3, and if it does not meet expectations for rapid growth, investors will likely sell it, resulting in a decrease in market cap and a downward price trend.

Lastly, Dogecoin (DOGE-USD) has recently experienced a series of ups and downs. Despite some recovery, the cryptocurrency has not shown a consistent upward trend. The recent decrease in Dogecoin’s value has led to a drop in market activity and investor interest. Whales selling their holdings and major movements of DOGE to exchanges indicate a lack of confidence in the digital asset. While it remains in the top 10 in terms of market capitalization, Dogecoin’s position has been affected. There are varying opinions among analysts about the community’s impact on the token’s stability. However, the highly volatile nature of DOGE may cause it to return to lower values without the hype. The peak of 2024 appears to have passed, and the future performance of this meme coin is uncertain.

In summary, the decline of these meme coins is caused by multiple factors, including the lack of actual value, dependence on viral marketing, and the impact of market forces. Bonk, Dogwifhat, and Dogecoin have all experienced selling pressure and are considered meme coins that should be sold due to their decreasing prices and low investor interest. Despite previous hype and community support, these tokens may see further drops in market cap and prices due to speculation and instability.

The value of FOXY coin has recently spiked, rising by 40% on April 12. This increase was triggered by major crypto exchanges listing FOXY, creating excitement among investors. Despite the dip in the overall meme coin market, FOXY has caught the attention of larger investors, indicating a shift in focus towards this new meme coin.

KuCoin, a popular crypto exchange, was the first to list FOXY on their platform. This allows traders to access the growing meme token starting on April 12, with withdrawal options available on April 13. OKX also plans to offer perpetual futures, margin trading, and Simple Earn options for FOXY. These features will be available starting April 12 and April 15 respectively.

The endorsements from KuCoin and OKX show their confidence in FOXY’s potential, making it more visible and liquid in global markets. This move also creates opportunities for derivative trading for investors.

Taking advantage of the recent price surge, an experienced investor has accumulated a significant number of FOXY tokens, resulting in large profits. They initially spent 330 ETH to acquire 117 million FOXY tokens during the token’s launch. With the current price surge, the investor now has a profit of $1.73 million.

Despite the gains, these tokens have not been transferred or sold, suggesting a positive outlook for FOXY and the possibility of more profits. As of now, FOXY is trading at $0.01964, with a 33% increase from its lowest point of the day. The 24-hour trading volume and market capitalization have also seen significant growth.

It is important to keep in mind that the opinions expressed in this article are personal and may change based on market conditions. It is advisable to conduct thorough research before investing in cryptocurrencies, as the author and publication are not responsible for any personal financial losses.

The UK’s Competition and Markets Authority (CMA) has voiced worries about the escalating influence of Big Tech in the cutting-edge artificial intelligence (AI) industry. Sarah Cardell, the CEO of the CMA, has outlined the potential dangers connected with the growth of this sector. A latest report by the CMA underscored the growing integration and concentration among innovators in the technology sector, specifically related to generative AI tools. The report also flagged the involvement of substantial tech firms such as Google, Amazon, Microsoft, Meta, and Apple (jointly referred to as GAMMA) in various facets of the AI value chain. The CMA acknowledged the possible benefits of collaborative tech partnerships, but cautioned against dominating partnerships and consolidated firms that could jeopardize competition in open markets. The regulatory body is urging for enhanced scrutiny and transparency in the regulation of these partnerships to safeguard fair competition.

The speaker stated that Runes protocol caters to degens and memecoins. Nonetheless, it is a trustworthy and safe system that can rival Taproot Assets and RGB. The integration should be simple as the ordinals library provides all required tools for encoding and decoding runestones.

The value of a meme coin on the Bitcoin network has recently spiked, reaching a record high of $70. However, meme coins are known for their high volatility, which means that while there is potential for profit, there is also a risk of significant losses. One example of this volatility is the PUPS (ORDINALS) coin, which saw a 1,000% increase in value in just one week and a 2,800% increase in a month. This surge also led to a market capitalization of over $500 million, making it the 12th largest in its category. PUPS is the first meme coin on the Bitcoin network and is governed by its community, with a focus on engaging with memes rather than practical uses. Other popular meme coins, such as Shiba Inu (SHIB), dogwifhat (WIF), Bonk Inu (BONK), BOOK OF MEME (BOME), and Slerf (SLERF) have also seen significant price increases. However, investing in meme coins carries a high degree of risk, as their volatility can result in substantial losses. It is crucial for traders to proceed with caution and avoid common mistakes when investing in this sector.

Investors interested in high returns are now shifting their attention from the cryptocurrency Shiba Inu (SHIB) to a new meme coin called Sponge (SPONGE). While SHIB remains one of the top crypto meme coins, investors are hoping to achieve returns of up to 1,000% with SPONGE. This Ethereum-based meme coin briefly surpassed Dogecoin in market cap, reaching over $40 billion in 2021. However, SHIB has experienced a 40% pullback from its recent highs. SPONGE, with a market cap of $80 million, presents an opportunity for investors to buy the dip and potentially see significant growth. This is due to its unique features such as offering passive income through staking and being the native token for a play-to-earn game. With upcoming listings on larger exchanges and the success of other meme coins, such as Bonk, Dogwifhat, and Pepe, there is potential for SPONGE to reach a market cap of $1 billion. However, it’s important to note that investing in crypto carries high risks and this information is for educational purposes only and not investment advice.

The passing of O.J. Simpson has led to a rise in the creation of meme coins on blockchain platforms like Solana and Base. Names such as “OJ Simpson” and “RIP OJ Simpson” have quickly gained popularity, amassing millions in trading volume. However, these coins often experience a rapid decline shortly after being launched. The simplicity and affordability of creating tokens on these platforms have contributed to the proliferation of meme coins linked to current trends, such as celebrity deaths. Services like Pump on Solana make it even more accessible for individuals without technical knowledge to produce meme coins with minimal fees. This trend highlights the speculative nature of meme coins and their ability to take advantage of public attention without providing any significant value.