The Top 3 Memecoins of the Week: A Closer Look
While the crypto market may be experiencing a lull, Memecoins are still making waves. This week, three coins stand out from the rest: Popcat, MOG Coin, and NPC. Let's dive deeper into their impressive price movements and on-chain data.
Popcat: The Solana Sensation
Popcat, the Solana-based Memecoin, has been on a tear, more than doubling in value over the past week. With a current price of $0.5609 and a liquidation pool of over $50 million, Popcat has become the sixth-largest cryptocurrency on Solana. However, the analyst from The Bitcoin Strategy warns that the high volume of small investors (less than $1,000) may lead to increased volatility. On-chain data shows that the number of repeat buyers far exceeds that of first-time buyers, which may not be a positive sign.
MOG Coin: The Ethereum and Base Chain Hybrid
MOG Coin has two versions: one on the Ethereum blockchain with over 22,000 holders and another on the Base Chain with around 16,000 holders. Interestingly, most whales with large holdings are found on the Ethereum blockchain. MOG Coin's price has fluctuated over the past month, but it has still managed to increase by 112% in the past week. On-chain data shows that traders with wallets over $1,000 have consistently bought MOG Coin, indicating steady growth. However, the recent hype surrounding MOG Coin, fueled by a prominent influencer's purchase, may be coming to an end.
Non-Playable Coin (NPC): The Hybrid Memecoin-NFT
NPC is a new type of Smart Coin that combines the features of Memecoins and NFTs. Each NPC token is linked to a unique NFT and can be traded 1:1 on the Transform dApp. NPC is traded on Ethereum's Uniswap and Coinbase's Layer-2 network, Base. Despite its impressive 50% growth over the past month, NPC's price has been declining over the past few days. On-chain data suggests that large wallets are selling off their NPC holdings, which may indicate a lack of trust in the project. If this trend continues, investors may want to exercise caution.
Actionable Takeaways:
By following these actionable takeaways, investors can make more informed decisions about their Memecoin investments and potentially capitalize on the next big trend.
For more Crypto and Finance content check out our Blog: https://finixyta.com/chevron-doctrine-and-crypto-a-new-era-of-regulation/