Bloomberg: Demand for MEME coins is strong, and investment mania is more than just a flash in the pan

2024-03-16 02:20:32BlockBeatsShare to:

According to BlockBeats news, on March 16, Bloomberg published the latest article stating that the demand for MEME coins is strong. In the past week, the trading volume of top MEME coins was close to 80 billion US dollars. The macro background is completely different now from the last round of MEME craze, but the scene is just like 2020 and 2021. Many tokens with no intrinsic value have risen much faster than Bitcoin. These MEME tokens, sometimes called by a very rude alias, are also an easy entry into the world of cryptocurrencies and are extremely risky. While Bitcoin has been increasingly adopted by the traditional financial world, smaller coins are mostly about hype and avoiding the dreaded “RUG PULL.” George McDonaugh, managing director of cryptocurrency investment firm KR1 Plc, said that to understand the role of Bitcoin or other large blockchains, "you may need to read a lot of white papers." For MEME coins, "just look at one." It's easier with the dog in the hat." And when market conditions are good, it's easy to make a profit. As of Thursday, one coin called Dogwifhat was worth about $3.13 and has soared more than 200,000% since its launch in December. And Bonk is up nearly 40,000% in just over a year.

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Price	$68,410.01 USD	Price Change (24h)	-2.73%	Trading Volume (24h)	$34,831,872,465.6 USD
Market Cap	$1,344,355,260,316.65 USD	Circulating Supply	19,769,175	Max Supply:	21,000,000

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