MemeFi (MEMEFI), a tap-to-earn crypto project built around Telegram mini-games, has shot up by more than 300% in a matter of hours, pushing it into the list of the top gainers today.

However, doubts are emerging about the long-term viability of the memecoin price action, especially seeing that it comes after Binance announced it will delist the token’s perpetual contracts on August 11.

Why is the MEMEFI price rising?

The dramatic price surge appears to have been triggered by a major short squeeze, following Binance’s decision to delist MEMEFI’s perpetual futures contracts.

As the August 11 deadline approaches, traders are rushing to exit their short positions, creating intense buying pressure that sent the price skyrocketing.

This has forced a wave of short liquidations, reportedly triggering nearly $376 million in trading volume in just one day, propelling MEMEFI to over $0.0063 from levels below $0.002, although it has slightly pulled back to around $0.005026.

Open interest also hit an all-time high of $36.92 million, with the majority of those positions — roughly 54% — being shorts.

As a result, $1.28 million worth of short positions were liquidated on Binance alone, with further liquidations noted on platforms like Huobi.

Binance delisting looms over the rally

Despite the bullish momentum, the looming delisting by Binance has injected a dose of caution into the market.

The exchange confirmed that it will halt trading of MEMEFI and DEFI perpetual futures on August 11 at 09:00 UTC, meaning traders must close any open positions before the deadline or risk forced liquidations.

While spot trading remains unaffected, the end of derivatives trading significantly reduces speculative leverage opportunities.

Binance has warned users that it may adjust contract parameters or stop stabilising the MEMEFI market in the final hours. This warning has contributed to increased volatility and uncertainty.

The delisting decision appears to stem from sustained low trading volumes and reduced demand.

However, the surge in price and interest following the announcement may be too little, too late to change Binance’s course, and traders must now weigh the risks of staying in an asset that is losing major exchange support.

Concerns over MemeFi team’s silence and project fundamentals

Adding to investor unease is the silence from the MemeFi development team.

Until recently, the project’s official communication channels had gone quiet since May.

Only on August 6 did the developers resurface with a teaser for an app upgrade expected at the end of August.

This prolonged silence has raised questions about the team’s commitment to the project.

Although MemeFi boasts over 55 million users and 10 million on-chain wallets, its underlying utility has come under scrutiny.

According to DappRadar, the MemeFi ecosystem has seen negligible user activity in recent months, suggesting that the current rally may be more technical than fundamental.

Crypto analysts have also cautioned that the price spike could be driven more by trading pressure and algorithmic strategies than by genuine investor interest.

The project’s prior history includes extreme volatility, with previous rallies followed by price crashes of over 90%.

MemeFi price forecast: can the momentum last?

With MEMEFI still down more than 80% from its all-time high of $0.01376 in November 2024, the current rally has yet to repair its long-term trajectory.

Although the token is now trading at around $0.005026 and ranks at position 769 by market cap, its price remains highly susceptible to rapid changes due to low market depth and high slippage risks.

The final days leading up to Binance’s delisting may continue to be marked by high volatility.

But without stronger fundamentals or renewed user interest in its Web3 gaming platform, the sustainability of this price action is in question.

For now, while MEMEFI has shown it can still surprise, its future remains deeply uncertain in the shadow of Binance’s exit.

The post MemeFi price surge at risk amid looming Binance delisting appeared first on CoinJournal.

MemeFi price surge at risk amid looming Binance delisting

Source: https://coinjournal.net/news/memefi-price-surge-at-risk-amid-looming-binance-delisting/

The SPX6900 memecoin has captured market attention once again after surging to a fresh all-time high (ATH) of $2.27.

However, despite the euphoric rally, the coin has since pulled back slightly, raising new questions about whether SPX can sustain its bullish momentum or if the recent surge was simply a short-term spike fueled by speculative frenzy.

SPX’s rally to $2.27 was fueled by futures frenzy

The explosive move to $2.27 began when SPX decisively broke past the $2.05 resistance level.

That breakout set off a chain reaction across spot and derivatives markets. At its peak, the coin gained over 12% in a single day, pushing its market cap to an eye-popping $2.1 billion.

Simultaneously, trading volume spiked by 134%, reaching $119 million. This influx of capital was accompanied by a surge in futures activity.

In addition, the token’s open interest climbed 17.97%, hitting $276 million, while derivatives volume jumped to $412 million.

These increases often signal that more capital is entering the market, with traders taking on leveraged positions to ride the momentum.

Moreover, funding rates have remained in positive territory throughout the rally, currently hovering around 0.022 with projections pointing toward 0.041.

A positive funding rate usually indicates that long positions are in high demand, which aligns with the current Long/Short Ratio of 1.08.

These signs suggest that the majority of traders are still betting on more upside.

Profit takers have begun exiting

As expected, the rally triggered a wave of profit-taking among early holders. This was evidenced by two consecutive days of positive netflows, with the most recent reading hitting $1 million — nearly double the previous day.

A rising netflow typically signals that more tokens are moving to exchanges, often ahead of a planned sell-off.

At the same time, SPX’s Stock-to-Flow Ratio (SFR) fell sharply from 7,200 to just 77. This steep decline points to reduced scarcity, which may put downward pressure on price in the near term.

Historically, sharp drops in SFR have preceded corrections in price, especially when accompanied by elevated netflows.

Technical indicators remain bullish

Despite the increasing signs of distribution, technical indicators still paint a bullish picture.

The Relative Strength Index (RSI) initially climbed to 71 before starting to drop to around 63.62 at press time as the market’s overbought condition eased.

At the same time, the Chaikin Money Flow (CMF), which at press time had dropped to -0.01, has remained positive over the past few days, indicating continued buyer strength.

Rising RSI and CMF typically suggest that market participants are confident.

However, with more SPX tokens appearing on exchanges, buyers will need to absorb additional supply to sustain the current trend.

If bullish momentum holds, SPX6900 could set its sights on the $2.50 mark in the short term.

On the other hand, if profit-taking intensifies and buyers lose control, the price of SPX6900  (SPX) could retrace to the $1.93 support zone.

The post SPX coin price forecast as SPX6900 retracts after hitting new ATH appeared first on CoinJournal.

SPX coin price forecast as SPX6900 retracts after hitting new ATH

Source: https://coinjournal.net/news/spx-coin-price-forecast-as-spx6900-retracts-after-hitting-new-ath/

In yet another example of Elon Musk’s uncanny ability to move markets with a single tweet, Vine Coin (VINE), a meme token on the Solana blockchain, saw its price more than double within hours on July 24, 2025.

The trigger was a brief but powerful message from Musk: “We’re bringing back Vine, but in AI form.”

We’re bringing back Vine, but in AI form

— Elon Musk (@elonmusk) July 24, 2025

That simple announcement catapulted VINE back into the spotlight and sent traders scrambling.

But as the hype begins to cool, serious questions are emerging. Can VINE maintain its bullish momentum, or was this just another fleeting rally powered by social media hype?

Musk’s Tweet lit the fuse, speculation fueled the flame

Notably, Musk’s post didn’t mention any cryptocurrency, yet it instantly sent VINE soaring.

The connection was speculative at best, but in the meme coin world, that’s often all it takes.

Within hours, the token’s market cap doubled, and trading volume surged past $240 million.

Social media exploded with mentions of #VineCoin, while Telegram groups and crypto X (formerly Twitter) fed the narrative that VINE could somehow be tied to a revived version of the Vine app.

However, it’s important to note that VINE has no official affiliation with Musk or X. The token was created in January 2025 by Rus Yusupov, one of Vine’s original co-founders.

Unlike other blockchain projects, VINE comes with no roadmap, no promise of future integration, and no token utility.

What it does have is nostalgia, narrative potential, and a fast-moving, speculation-driven community.

Vine price correction signals caution

At the peak of the Musk-driven frenzy, VINE hit $0.1765 before quickly retracing to around $0.1351 and later slightly recovering to $0.1402 by the time of writing.

While the rally was impressive, the failure to hold above the key resistance above $0.1765 signalled a lack of sustained buying pressure.

Technical indicators soon confirmed the shift.

The Chaikin Money Flow (CMF) dropped below zero, indicating fading inflows, while the Awesome Oscillator (AO) began flashing red, pointing to weakening bullish momentum.

Elevated trading volume during the pullback added another layer of concern. When volume remains high while prices fall, it often signals increasing selling pressure rather than a healthy consolidation.

Although some traders are still hopeful for a bounce, if support at $0.14 fails, the next downside targets could be $0.070 and even $0.051.

On the other hand, if bulls regain control, VINE could push toward its all-time high of $0.02358, registered in March this year.

However, without concrete steps toward utility or ecosystem development, meme coins like VINE often struggle to maintain gains.

While the excitement around a possible Vine AI relaunch gave traders a reason to speculate, it’s unclear whether that will translate into long-term value for the token itself.

What separates fleeting fads from sustained growth is the ability to convert attention into utility.

At this stage, VINE lacks the fundamentals to do that, and unless that changes, it remains at the mercy of online sentiment and celebrity influence.

The post Can VINE cryptocurrency sustain the Elon Musk initiated bull run? Here’s a closer look appeared first on CoinJournal.

Can VINE cryptocurrency sustain the Elon Musk initiated bull run? Here’s a closer look

Source: https://coinjournal.net/news/can-vine-cryptocurrency-sustain-the-elon-musk-initiated-bull-run-heres-a-closer-look/

FARTCOIN recently fell from a local high of $1.69 to a low of $1.29, prompting concern among holders.

In addition, the recent price action has sent mixed signals to traders, but a major technical pattern is now taking shape that could redefine its short-term trajectory.

While bearish sentiment has crept into the market following a high-profile whale exit, the bullish setup suggests that an explosive breakout may be on the horizon.

At press time, FARTCOIN was trading around $1.36, recovering slightly after the recent dip.

Huge whale movement triggers panic

Much of the recent sell pressure has been driven by a strategic move from a major FARTCOIN holder.

According to on-chain data, a whale withdrew 1.96 million tokens from Kraken and quickly swapped them for $2.72 million in USDC. The sale was executed at $1.39 per token, just below the recent local high.

A whale has withdrawn 1.96M $FARTCOIN from #Kraken and sold it for $2.72M $USDC at a price of $1.39.

Address: HL6s4Nr9hKG2Nz7RjpaJbhnRPgKSCrPRppTJyQm1C5zU pic.twitter.com/E0eGcTlLJ2

— Onchain Lens (@OnchainLens) July 24, 2025

This precise exit strategy suggests the whale was looking to capitalise on FARTCOIN’s recent surge while liquidity remained high.

Importantly, this whale exit coincided with a 7.6% spike in trading volume, which hit $429.5 million within 24 hours.

This sudden liquidity rush provided the ideal environment for a large sell-off without causing extreme slippage.

While some traders see this move as a bearish signal, others believe it may simply be a repositioning rather than a permanent exit.

Bullish futures sentiment defies spot market fear

Despite the whale-led sell-off, derivatives traders remain optimistic.

Data from Santiment shows FARTCOIN’s funding rate has held positive at 0.005%, indicating sustained demand for long positions.

Similarly, the Long/Short Ratio stands at a strong 2.41, with approximately 70% of futures traders betting on price increases.

This divergence between futures optimism and spot market anxiety presents a unique dynamic.

While large holders are exiting positions, retail and speculative traders appear confident that FARTCOIN’s price has more room to climb.

If the bulls are correct, the memecoin may be gearing up for a strong rebound — provided it maintains critical support at $1.30.

Cup & Handle formation sparks breakout hopes

The most compelling bullish signal right now is the emergence of a classic Cup & Handle pattern on FARTCOIN’s chart.

This pattern, often seen before major upward moves, is still forming but remains structurally intact and the price has already broken above the upper level of the handle.

No strong bearish invalidation has occurred so far, and eyes are on a clean breakout above the neckline at $1.55, which has acted as a strong resistance zone for months.

If bulls manage to hold the $1.30 level and push through the upper resistance, the handle portion of the pattern could complete swiftly.

This move could set the stage for a rally toward $1.90 or even $2.10, especially if backed by rising volume and improving sentiment.

However, a breakdown below $1.30 would invalidate the pattern and potentially send the token down to $1.18, a previously identified demand zone.

The post FARTCOIN price breakout imminent as critical technical setup forms appeared first on CoinJournal.

FARTCOIN price breakout imminent as critical technical setup forms

Source: https://coinjournal.net/news/fartcoin-price-breakout-imminent-as-critical-technical-setup-forms/

Bonk (BONK) and Pudgy Penguins (PENGU) are in a battle for top spot among Solana-based meme tokens.

At the time of writing, Bonk was surging 7% in the past 24 hours to just reclaim the throne with a market cap of over $2.71 billion.

Pudgy Penguins, which had exploded double digits amid spot exchange-traded funds news and Binance seed tag removal, tailed a close second with $2.69 billion in market cap.

The rally for PENGU, which briefly saw it overtake Bonk as top Solana meme, came as other ecosystem tokens like dogwifhat and Popcat recorded upside flips.

BONK, PENGU price surge helped by Binance lifting tag seed

While memecoins have recently exploded amid a broader altcoin rally, BONK and Pudgy Penguins have benefited from an announcement by Binance. 

On July 21, 2025, the leading crypto exchange posted an update that indicated Binance will remove the Tag Seed for BONK, EIGEN, ETHFI, PENGU and PEPE.

“Tokens with the Seed Tag represent new, innovative projects that may exhibit higher volatility and risks compared to other listed tokens,’ Binance explained. 

By removing the tokens from the list of those tagged as high risk, Binance helped to bolster not just trader confidence, but also enhanced liquidity support. The move also catalyzes increased visibility for the tokens, likely why PENGU, BONK and the other projects exploded.

Pudgy Penguins’ community reacted to ETF filing news in style and crypto analyst Ali Martinez had this to say:

“Pudgy Penguin $PENGU: Top-tier memecoin with mainstream crossover. ETF filing puts it in rare company.”

The meme coin briefly surpassed BONK in market capitalization, and could yet establish itself there unless BONK fights back.

🚨NEW: $PENGU has surpassed $BONK to become the #1 memecoin on @Solana by market cap. pic.twitter.com/ENoWb7E4lE

— SolanaFloor (@SolanaFloor) July 23, 2025

BONK price: bulls look to defend key level

BONK’s price is up just 6% in the past 24 hours and 9% in the past week. However, with bulls looking to defend a critical support level around $0.00003485, the fight to fend off Pudgy Penguins’ push is on.

Currently, BONK is consolidating between support at $0.00003 and the supply zone at $0.00004.

Analysts are optimistic that BONK holding above the current demand zone could allow them to target November 2024 highs. This is the area of Bonk’s all-time high above $0.000059. BONK’s resilience and community support, with open interest up 2.69% to over $55 million.

The post BONK price: bulls defend key level as Solana meme coins heat up appeared first on CoinJournal.

BONK price: bulls defend key level as Solana meme coins heat up

Source: https://coinjournal.net/news/bonk-price-bulls-defend-key-level-as-solana-meme-coins-heat-up/

Shiba Inu (SHIB) has captured renewed attention in the crypto markets with signs of a major breakout.

The memecoin has outperformed key rivals like Bitcoin (BTC) and Ethereum (ETH) in recent days, driven by surging on-chain activity, an explosive burn rate, and the confirmation of a golden cross on its daily chart.

As technical and fundamental indicators continue to align, many investors are now asking whether SHIB is preparing for a substantial move higher.

Shiba Inu transactions have spiked as confidence grows

In the past ten days, Shiba Inu’s average transaction size has surged by 350%, rising from $2,600 to more than $11,700, according to data from IntoTheBlock.

This sharp increase is a strong signal that traders are placing larger bets on SHIB, reflecting growing market confidence and bullish sentiment.

This surge in activity coincides with a 2% price gain that pushed Shiba Inu (SHIB) to $0.000014—its highest level since May. Much of this upward pressure stems from Ethereum’s 16% weekly rally, which has lifted sentiment across Ethereum-based tokens like SHIB.

With Ethereum outperforming Bitcoin recently, many retail traders have turned to assets within its ecosystem, and SHIB has clearly benefited from this trend.

The explosive Shiba Inu (SHIB) burn rate

As Shiba Inu’s price rallies, SHIB’s burn rate (representing the number of SHIB tokens permanently removed from circulation) has surged over 2,000% in the past week.

More than one billion SHIB tokens have been burned during that period, significantly boosting the asset’s deflationary momentum.

This aggressive burn activity is a critical part of SHIB’s long-term strategy. By reducing supply, the token becomes more scarce, potentially increasing its value if demand rises.

The rising burn rate, combined with a growing ecosystem, has revived discussions around bold price targets. Some analysts even speculate a path toward $0.00017 or beyond. CoinLore has predicted that the memecoin could rise to between $0.0000377 and $0.0000624 before the end of this year.

Golden cross confirmation fuels more bullish sentiment

From a technical analysis point of view, SHIB’s technical outlook has strengthened significantly.

A golden cross pattern formed on the daily chart after the 9-day moving average crossed above the 26-day moving average.

Historically, this pattern often preceded significant price rallies for SHIB and other altcoins.

Moreover, momentum indicators such as the MACD show continued bullish divergence. The MACD histogram is in positive territory, and the MACD line has extended its lead above the signal line.

However, traders should proceed with caution, seeing that the RSI indicator is currently at around 67, three points off the overbought region of 70, meaning a short-term pullback could be possible.

As long as SHIB stays above the key support level at $0.0000125, technical analysts expect a potential breakout.

A drop below $0.000012 could invalidate the current setup and trigger a short-term pullback to the $0.000011 level.

That said, if SHIB manages a clean breakout above $0.000016, the path to retesting March’s local top at $0.000018 becomes more likely.

With the regulatory developments in the US, especially around the CLARITY Act and other crypto-related bills, improved legal clarity could add fuel to the ongoing Shiba Inu (SHIB) rally.

Additionally, Shiba Inu’s recent launch of DegenSafe, a platform for meme coin creation on Ethereum, has added further utility and attention to the token.

The post Shiba Inu price outlook as transactions and burn rate jump: golden cross confirmed appeared first on CoinJournal.

Shiba Inu price outlook as transactions and burn rate jump: golden cross confirmed

Source: https://coinjournal.net/news/shiba-inu-price-outlook-as-transactions-and-burn-rate-jump-golden-cross-confirmed/

Bonk (BONK)’s price climbed more than 10% to hit highs of $0.0000305 in the last 24 hours, with the Solana memecoin seeing a notable spike in open interest and derivatives volume.

This uptick follows a rebound for top memecoins. In particular, it coincided with Bitcoin’s sharp rally to above $122k in the past few days, a move that triggered an altcoin bounce.

BTC’s surge has memecoins such as Dogecoin, Pepe, dogwihat and Bonk gaining. Also notable is fresh sentiment as interest amid the launch of Pump.fun’s token PUMP ignites overall meme recovery.

Bonk price jumps as OI rises 9%

As noted, Bonk’s price has ticked up as its market activity has surged.

One significant metric is open interest, which has risen 9% to see the number of bets on the token reach $48.5 million.

According to data from Coinglass, this growth accompanies a 20% increase in derivatives volume, which stood at over $534 million.

In the market, BONK has a 24-hour trading volume of $1.34 billion – up 23% during this period.

This rise in derivatives activity suggests heightened investor confidence, potentially driven by recent community efforts, such as the push to reach one million on-chain holders.

Bullish bets are also up as BONK targets a major token burn of one trillion BONK.

954,843

What is this number?

The number of on-chain Solana holders of $BONK

Once this number goes to 1,000,000 — one trillion BONK will be burned 🔥

Send some $BONK to your mum, dad, or even your dog

Have you BONKED someone today yet?

— Tendies (@tradefortendies) July 13, 2025

If the move happens, it will create scarcity and boost the value of the Bonk token.

Bonk price prediction

Most cryptocurrencies have witnessed an uptick in the past several weeks, with bullish predictions for altcoins and memes as BTC price eyes new highs.

Bonk is bidding for a similar trajectory with price-off lows of $0.000027.

Currently, bulls might want to hold above $0.000028 and target a break above $0.000035.

With price in an ascending channel in the past weeks, buyers may have the upper hand. However, the technical indicators provide a mixed outlook for Bonk’s future performance.

The 14-day Relative Strength Index (RSI) stands at 76, signaling overbought conditions that could lead to a short-term correction.

Conversely, the Moving Average Convergence Divergence (MACD) on the daily chart offers a bullish signal.

The histogram has increased with a strong uptick following a bullish crossover.

The combination of rising open interest, robust trading volume, and technical indicators presents a largely bullish picture for Bonk.

Although an overbought RSI suggests caution, the MACD and broader long-term crypto projections favour buyers. Support levels include $0.000026 and $0.000015.

The post Bonk price signals rally as open interest spikes by 9% appeared first on CoinJournal.

Bonk price signals rally as open interest spikes by 9%

Source: https://coinjournal.net/news/bonk-price-signals-rally-as-open-interest-spikes-by-9/

Several top memecoins, including Dogecoin, Shiba Inu and Pepe were down on Wednesday morning.

Fartcoin (FARTCOIN), which has outperformed in recent months, mirrored the broader memecoin market trajectory with its price down 5%.

Losses for the cryptocurrency cut recent gains to just 5% over the past week and 14% over the past month.

However, gains over the past year are staggering in the last one year.

The token currently trades around $1.35.

With Bitcoin still ranged near $110k and seeing notable bullish news developments, the anticipated influx of retail into altcoins remains on hold.

FARTCOIN’s price is mapping this outlook with the 24-hour trading volume spiking 12% to over $150 million to suggest increased selling.

Amid this performance, an analyst says bears could push bulls deep into the woods.

The FARTCOIN price is slightly down from highs of $1.6 reached last week, but Captain Faibik says a 50% dip is likely.

Fartcoin price – analyst flags potential 50% dip

Per Captain Faibik, in a post on X, FARTCOIN has traded in a rising wedge.

However, it signals further downside breakout as the bearish impulse intensifies.

If this scenario plays out, FARTCOIN price could crash by more than 50% from current levels.

#FARTCOIN Rising Wedge Downside Breakout..✅

Expecting +50% Bearish Impulse..🔜#Crypto pic.twitter.com/1xjyLHF3ty

— Captain Faibik 🐺 (@CryptoFaibik) May 28, 2025

From a technical perspective, this assessment aligns with FARTCOIN’s failure to breach the supply wall near $1.6 in recent trades.

This rejection has bears poised at $1.30, a key zone for bulls, with the above analyst’s prediction likely if this level breaks.

On the daily chart, the Relative Strength Index (RSI), Moving Average Convergence Divergence (MACD) and Awesome Oscillator signal bearish momentum.

Weakness for Fartcoin comes amid notable selling.

On May 27, Lookonchain shared details showing a trader liquidated $11.7 million in FARTCOIN and other tokens.

As well as a $6 million profit on FARTCOIN, the trader took profits of $3.3 million on ZEREBRO and $1.8 million on LAUNCHCOIN.

If Fartcoin price successfully retests the falling wedge trendline, an upside flip could see buyers target $1.8 and $2.

However, a breakdown to the key demand reload zone around $1.30, further weakness will bring $1.2 into view.

This fall will intensify if profit taking continues to dominate memecoins and altcoins.

Fresh jitters across risk assets will also accelerate the possible pullback, with dips for mega cap alts like Ethereum, XRP and Solana scenarios to watch.

The upside of this will be a return to winning ways for FARTCOIN and other memecoins.

The post Fartcoin price warning: why this meme token could plunge 50% appeared first on CoinJournal.

Fartcoin price warning: why this meme token could plunge 50%

Source: https://coinjournal.net/news/fartcoin-price-warning-why-this-meme-token-could-plunge-50/

Bitcoin Pepe, heralded as the world’s only Bitcoin Meme ICO, has made headlines by raising $2.77 million out of its $2.85 million presale target in its fourth presale stage.

The Bitcoin Pepe presale is structured in such a way that the BPEP token price increases as the presale stages progress. For instance, with the fourth stage almost completed, the price is expected to rise from the current price of $0.0243 per token to $0.0255 in the fifth presale stage.

Notably, the Bitcoin Pepe project aims to bring Solana-like technology to the Bitcoin blockchain, introducing concepts like a Meme Layer-2 for BTC with instant transactions and ultra-low fees. The initiative also includes the launch of a new token standard, PEP-20, allowing for meme coin creation directly on Bitcoin, which they argue is the only blockchain that will “live forever.”

Regulatory challenges highlighted by the LIBRA scandal

While Bitcoin Pepe seems to be a success, the memecoin market was recently thrown into confusion following the rug pull of LIBRA, which was expected to be a successful crypto project after it was endorsed by Argentine President Javier Milei.

Following the LIBRA debacle, which is partly blamed on possible insider trading, Nic Puckrin from Coin Bureau has criticized US regulators for failing to provide a framework that could prevent such incidents.

According to Puckrin, this vacuum has allowed for fraudulent schemes to proliferate, leading to calls for agencies like the SEC or CFTC to step in. However, there’s a counterargument, with some like Christopher Perkins suggesting that memecoins already enjoy a degree of regulatory clarity under commodity laws, though the broader legal landscape remains grey for these digital assets.

I’m still trying to make sense of the clown show 🤡 surrounding $LIBRA over recent days…

The good news is that memecoins are one of the few crypto assets that currently enjoy regulatory clarity. For the most part, they are commodities. As such, any ACTIVITIES involving… pic.twitter.com/HosHLPdZHM

— Christopher Perkins 🦅🌎⚓️NYC (@perkinscr97) February 18, 2025

76% of memecoin investors believe rewards outweigh risks

Despite the risks associated with meme coins, a recent Kraken survey reveals a surprisingly positive outlook on memecoins.

According to the survey, an overwhelming 76% of investors believe that the potential rewards of investing in memecoins justify the risks involved. This sentiment is backed by 85% of US crypto holders who have ventured into the memecoin market, driven by factors like price volatility, FOMO, and social endorsements.

Interestingly, while both genders invest in memecoins at similar rates, the survey shows that women tend to be more cautious, generally allocating a smaller portion of their portfolio to these high-risk assets.

The survey also highlights that while many are optimistic about memecoins’ performance in 2025, the majority still approach these investments with caution, dedicating only a small fraction of their portfolio to memecoins. This cautious optimism reflects a broader understanding of memecoins’ role in the crypto ecosystem, not just as speculative assets but also as a source of entertainment and diversification.

With that said, the Bitcoin Pepe (BPEP) memecoin leverages Bitcoin’s security and Solana’s speed, offering investors a compelling memcoin alternative that will possibly outshine previously launched meme coins.

The post Bitcoin Pepe’s presale hits $2.77M as survey shows memecoins’ rewards outweigh risks appeared first on CoinJournal.

Bitcoin Pepe’s presale hits $2.77M as survey shows memecoins’ rewards outweigh risks

Source: https://coinjournal.net/news/bitcoin-pepes-presale-hits-2-77m-as-survey-shows-memecoins-rewards-outweigh-risks/

In a surprising twist to the already tumultuous saga of the LIBRA cryptocurrency, one of its co-creators, Hayden Davis, has come forward with allegations of insiders being given preferential access to purchase the token before its official market launch.

This claim emerged during an interview with investigative journalist Stephen Findeisen, known as Coffeezilla, shedding light on what Davis describes as an “insider’s game.”

LIBRA’s rapid rise and fall

LIBRA cryptocurrency was designed to leverage the buzz around blockchain technology and potentially stimulate economic growth in Argentina by funding small businesses and startups.

The token was developed by a team including Hayden Davis, under the banner of Kelsier Ventures, and with technical support from KIP Protocol, which was invited post-launch to manage the selection of funded tech projects. LIBRA was hosted on the Solana blockchain, known for its speed and low transaction fees, making it a popular choice for memecoin enthusiasts.

On February 14, 2025, Argentina’s President Javier Milei threw his weight behind LIBRA via a social media endorsement, describing it as a tool to “incentivize the growth of the Argentine economy.” The token’s value skyrocketed almost instantaneously, reaching a market cap of over $4 billion.

However, this meteoric rise was short-lived. Within hours, LIBRA’s value plummeted back to near zero, with over $87 million cashed out by insiders in the first three hours post-launch, according to financial analysts.

Javier Milei just DESTROYED the memecoin market:

Hours ago, Argentinian President Milei launched a memecoin, $LIBRA, for “the growth of their economy.”

Within 5 hours, over -$4.4 BILLION of market cap was erased.

Is this the biggest rug pull in history?

(a thread) pic.twitter.com/t4T69r851d

— The Kobeissi Letter (@KobeissiLetter) February 15, 2025

The collapse was attributed to the classic signs of a “rug pull,” where the token’s creators or insiders inflate and then abandon the project, leaving investors with significant losses.

Notably, the website associated with LIBRA, vivalalibertadproject.com, was registered on the same day as its launch, hinting at the rushed and potentially speculative nature of the project.

The Hayden Davis interview revelation

In his candid interview with Coffeezilla, Hayden Davis, also known as Kelsier, claimed that before LIBRA was publicly available, certain individuals at a private dinner in Washington, D.C., were allowed to buy 500 million tokens at a discounted price.

Davis described the crypto industry, particularly in this instance, as an “insider’s game,” where access to early, lucrative opportunities is not equitably distributed.

Davis further admitted his involvement in another project, MELANIA, implying that similar tactics were used there. His revelations paint a picture of a market where those with connections can manipulate outcomes for personal gain, significantly disadvantaging the average investor.

President Milei faces possible impeachment

The fallout from the LIBRA debacle has plunged President Javier Milei into a political maelstrom. Critics, including opposition leaders and legal experts, have accused Milei of fraud, pointing to his promotion of LIBRA which many saw as an endorsement of a speculative asset that led to investor losses.

The situation has escalated to the point where Argentine lawyers have filed fraud complaints in criminal court, arguing that the incident resembles a “rug pull” where investors are lured with promises only to see the value of their investments collapse.

The scandal has not only damaged Milei’s reputation but has also prompted calls for his impeachment. Political adversaries, including former President Cristina Fernández de Kirchner, have seized this opportunity to challenge Milei’s leadership, describing the incident as a betrayal of public trust.

The controversy has led to an official investigation by Argentina’s Anti-Corruption Office, examining whether Milei or any members of his administration acted improperly or knew about the token’s dubious foundations.

The post Libra co-creator alleges insiders had early purchase access before market launch appeared first on CoinJournal.

Libra co-creator alleges insiders had early purchase access before market launch

Source: https://coinjournal.net/news/libra-co-creator-alleges-insiders-had-early-purchase-access-before-market-launch/