BTC

$99227.173

2.28%

ETH

$3370.044

7.40%

BNB

$628.305

2.65%

XRP

$1.375

23.47%

News

Mechanism Capital Co-founder: The Meme Coin Market Is Becoming A New Asset Class

March 18, 2024 - Around 2 mins mins to read

Key Points:

  • The meme coin market sees robust growth, with major players like DOGE and SHIB taking a pause while smaller-cap coins surge.
  • BOME by Darkfarms records a remarkable 1600% increase in just 3 days.
The meme coin market remains vibrant, with major players like Dogecoin (DOGE) and Shiba Inu (SHIB) momentarily pausing amidst substantial surges, while smaller-cap meme coins exhibit resilience.
Mechanism Capital Co-founder: The Meme Coin Market Is Becoming A New Asset Class
Mechanism Capital Co-founder: The Meme Coin Market Is Becoming A New Asset Class 2

Meme Coin Market Surges With Low Cap Coins

Andrew Kang, co-founder of Mechanism Capital, emphasized meme coins as assets with significant potential, likening them to a burgeoning asset class rather than mere lottery tickets. Kang predicts sustained growth and increased market value over the next decade.

One standout in the meme coin sphere is BOME, the latest addition from Pepe meme’s Darkfarms, soaring over 1600% within three days of its March 13 launch. The presale far exceeded expectations, garnering 10,131 SOL in funding.

The recent surge in the meme coin market mirrors Bitcoin‘s upward trajectory in March, illustrating a discernible pattern of profit redistribution toward speculative assets with low liquidity. As Bitcoin’s price climbs, investors seem quick to channel profits into these alternative assets. The meme coin market experienced an upswing with:

  • WIF surged 31.4% to $3
  • MOG rose 24.23% to $0.0000009263
  • SHIB increased 14.2% to $0.00002889
  • BONK climbed 7.2% to $0.00002714
  • MEME grew 5.2% to $0.04051
  • DOGE edged up 4.6% to $0.1511
  • PEPE advanced 4.2% to $0.0000057708

WIF Achieves Fundraising Milestone

Solana-based meme coin WIF made headlines, raising over $650,000 and planning a grand display in Las Vegas, featuring its Shiba Inu-themed mascot, courtesy of its fundraising success. Real Vision’s Raoul Pal disclosed his investment in WIF, signaling growing interest from prominent investors.

As meme coins continue to captivate markets, the sector’s evolution suggests a broader acceptance and recognition, solidifying its position as a formidable asset class with enduring potential.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

BOME

Dogecoin

meme coin

Pepe

Shiba Inu

WIF

Avatar of Harold

Author

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.
News

Mechanism Capital Co-founder: The Meme Coin Market Is Becoming A New Asset Class

Key Points:

  • The meme coin market sees robust growth, with major players like DOGE and SHIB taking a pause while smaller-cap coins surge.
  • BOME by Darkfarms records a remarkable 1600% increase in just 3 days.
The meme coin market remains vibrant, with major players like Dogecoin (DOGE) and Shiba Inu (SHIB) momentarily pausing amidst substantial surges, while smaller-cap meme coins exhibit resilience.
Mechanism Capital Co-founder: The Meme Coin Market Is Becoming A New Asset Class
Mechanism Capital Co-founder: The Meme Coin Market Is Becoming A New Asset Class 4

Meme Coin Market Surges With Low Cap Coins

Andrew Kang, co-founder of Mechanism Capital, emphasized meme coins as assets with significant potential, likening them to a burgeoning asset class rather than mere lottery tickets. Kang predicts sustained growth and increased market value over the next decade.

One standout in the meme coin sphere is BOME, the latest addition from Pepe meme’s Darkfarms, soaring over 1600% within three days of its March 13 launch. The presale far exceeded expectations, garnering 10,131 SOL in funding.

The recent surge in the meme coin market mirrors Bitcoin‘s upward trajectory in March, illustrating a discernible pattern of profit redistribution toward speculative assets with low liquidity. As Bitcoin’s price climbs, investors seem quick to channel profits into these alternative assets. The meme coin market experienced an upswing with:

  • WIF surged 31.4% to $3
  • MOG rose 24.23% to $0.0000009263
  • SHIB increased 14.2% to $0.00002889
  • BONK climbed 7.2% to $0.00002714
  • MEME grew 5.2% to $0.04051
  • DOGE edged up 4.6% to $0.1511
  • PEPE advanced 4.2% to $0.0000057708

WIF Achieves Fundraising Milestone

Solana-based meme coin WIF made headlines, raising over $650,000 and planning a grand display in Las Vegas, featuring its Shiba Inu-themed mascot, courtesy of its fundraising success. Real Vision’s Raoul Pal disclosed his investment in WIF, signaling growing interest from prominent investors.

As meme coins continue to captivate markets, the sector’s evolution suggests a broader acceptance and recognition, solidifying its position as a formidable asset class with enduring potential.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.