Memecoin Revival

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MEMECOIN REVIVAL

With the market looking for something else to focus its attention on given what feels like every 404/DN404/404+ project is a rug, we’ve seen the prior memecoin favorites from the Summer/Fall of last year catch a bid. MOG is up 50% over the last 24hr, SPX is up ~40%, JOE is up 200% and real smurf cat is up ~36%. Within the group, MOG was far and away the volume leader with $11mm traded, so the attention is heavily favored towards MOG. BITCOIN was up just 12% on the day, but has rallied hard over the past few days.

PANDORA bounced off the lows yesterday morning and is up ~60% since but the beta plays (DEFROGS, CELL, MINER, BAKE, MNRCH, etc) haven’t really followed suit. We did see 2 new 404 launches perform very well since yesterday, with Asterix running to a $21mm market cap and 404 Blocks peaking at around $6mm. Outside of these, the new launch market has been full of rugs and fakes. The most notable of which was the fake No Handle, which caused this trader to lose the $114k of gas they spent to try and snipe the token. Don’t worry though, if the project doesn’t rug, sometimes you’ll see some sniper entertainment instead, like this trader sniping 28% of the supply of SHAPE and dumping it for a $57k gain while the token goes to effectively zero.

Where is the degen volume trending? SOL & ETH were roughly the same today at ~$25mm each. Notably BASE activity has picked up a bit in the last week, averaging ~$100k of volume per day.

WHAT TO WATCH TODAY

• ALEA - this working Arena Brawler game is hitting ATHs today, currently trading at a $4mm FDV on $1.2mm of volume. With the recent uptick in crypto gaming attention, this is definitely worth keeping on your radar

• ZKML - a privacy project, launched today and already has hit a $4mm market cap

• 404 BLOCKS - the first generative art collection on 404. As a first mover in the category (and with pretty good looking NFTs), could do well if the 404 meta keeps the market’s attention

• ASTX - the “lead” token for the DN404 movement, ASTX has risen to a $21mm market cap

• BLUE - a project we noted in an issue a week ago launched today and its token quickly surged to $0.55 or a $27mm market cap on $11mm of volume. As a reminder, Blueprint is a gas-efficient ve(3,3) DEX on ETH

• OLD MEMES - MOG, JOE, SPX and Real Smurf Cat caught a bid over the last 24hr, and specifically MOG is worth watching given the relative volume/attention

• CIRCLE - a new ponzi on BASE that has quietly been up only hitting a $4mm market cap as of writing

• STRK - The Starknet Airdrop sounds very likely to be dropping tomorrow

THINGS TO KEEP ON YOUR RADAR

• BINANCE adds support for 404s

• C4SH404 - The first experimental implementation of gambling & Staking on DN404 tech is delayed its launch to tomorrow

• FURNANCE404 - a deflationary 404 project that likely launches soon

• OHBABYCART - a racing game from OhBabyGames. Not very much information provided just yet, but this game looks like mario kart and the project has been trending with smart follows today

• EDGE - Powered by Vertex. Some sort of cross chain liquidity project by the Perp DEX that has been picking up smart follows

• PALETTE a very hyped generative 404 art collection, which sounds like it could be launching tomorrow.

• NO HANDLE - while I and some other degens got rugged on a scam version of this last night, this is one of the most hyped DN404 projects and should be on your radar

• ARBIUS - a decentralized AI project on Arbitrum is just launched its token

If you’re looking for the next new launch or rotation, chainEDGE streams the activity of the top 0.01 of traders to help give you an EDGE in today’s market. Sign up today before SOL smart money data goes live

SMART MONEY CORNER - Powered by chainEDGE

• Notable inflows today into BLUE ($143k), DEGEN ($111k), new launch AIUS with $65k and MNRCH with $65k as well

• Net sell flows were profit taking in ASTX ($120k), PANDORA selling ($86k) and $40k net sells in OLAS and TYBG

• Smart money favorites (measured by number of $10k+ smart holders) have shown strong accumulation trends in MUBI, RLB, CPOOL and BITCOIN

• Today’s new launch digest shows how rough the 404 new launch market is. Big buys by snipers and early movers on things like MollyGenesis, 404 Blocks, Cucumber and WIFU, with only 404 Blocks really standing tall amongst this group.

• Today’s trader highlight is an early mover who hit big wins on PORK ($223k), RUG ($57k) and BRGE ($46k).

MEME OF THE DAY

Credit: https://x.com/RetardedATH/status/1757459962224169297?s=20