🦎🚀 Did Trump's memecoins meet the same fate as him? 📉

Friday, May 31, 2024

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Welcome to the weekend, Geckos!

If you haven't been keeping your eyes on the market all week, time to catch up!

In today's news:

Down in the Trumps ⚖️
Pudgies on-the-go 📱

Read on!

24h Hot Searches Worldwide 🔥

Sora (+6.9%)
Brett (+3.2%)
Notcoin (-5.4%)
Super Trump (-21.6%)
MAGA (+11.9%)
MAGA Hat (-22.5%)
FOMO Network (-5.6%)

Is FDV a Meme? Low vs High Float Crypto

Low float crypto account for 21.3% of the top 300 large cap crypto, while only 24.7% are fully diluted.

Notably, 14 out of the 74 fully diluted large cap crypto are memecoins, mostly launched this year or last year.

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Down in the Trumps ⚖️

Bearish for Trump memecoins?

The former US president Donald Trump was found guilty on 34 felony charges related to his 'hush money' trial.

Allegedly, Trump produced false business records and paid money to bury the story of his affair with an adult entertainer.

Expectedly, the news of the former president's conviction did not bode well for several memecoins that were associated with him, most notably the MAGA (TRUMP) memecoin.

After news of the verdict broke out, TRUMP fell by 16.5% from $13.50 to $11.27 but has since surged higher to $14.35 as of the time of writing.

Strangely enough, the Trump caricature memecoin, Doland Tremp (TREMP), did not react similarly, falling just 4.8% from $1.09 to $1.04, but has surged along with TRUMP to $1.16 today.

On the other hand, the Jeo Boden (BODEN) memecoin related to Trump's main political rival surged by 12.5% from $0.32 to $0.36 but retraced the move soon after.

Editor's Note:

While this may seem like the death of Trump memecoins, it's important to understand that the crypto community can easily spin seemingly bad news into something positive for the token's price performance, hence leading to their quick recovery. If you've ever heard the term 'bullish unlock', then you'll know what we're talking about.

Ever wondered how blockchain games work? Learn about how partial versus fully on-chain games work in this video!

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Pudgies on-the-go 📱

The Pudgy Penguins are getting a mobile game!

In collaboration with game studio and publisher Mythical Games, the Pudgy Penguins mobile game claims to be a triple-A title and will be built on the Polkadot-based Mythos Chain.

Mythical Games is not a newcomer to the gaming industry, having developed successful titles such as NFL Rivals and Blankos Block Party.

According to their CEO, John Linden, the studio has been in talks with Luca Netz, the CEO of Pudgy Penguins, for close to a year about creating their mobile game.

However, it remains to be seen how Pudgy Penguin NFTs will be integrated into the game or whether players will need to acquire the Mythos Chain's native token, MYTH.

Learn about the history of Solana and how it works in this deep dive into Solana and its technology.

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In Other News...

Trading Car Reservations On-Chain. DeLorean, the automaker known for the iconic car from "Back to the Future," announced that it would launch a marketplace with crypto payments company MoonPay, letting customers trade their manufacturing reservations on-chain.
ETH Whale or Custodian? Singapore Bank DBS says it isn't an Ethereum whale, in relation to a post from blockchain analytics platform, Nansen, which identified a $650M ETH whale as DBS.
Downtick in Stolen Funds. Investors have lost $473 million since the beginning of the year to hacks and frauds, a decrease of 20% from last year during the same period.
$70M Raise. Bitcoin startup Babylon raises $70M to bring BTC staking to Ethereum and Solana.
Onto the Next. 'Final Fantasy' maker Square Enix moves to Arbitrum for the next NFT character mint for its Symbiogenesis blockchain game.
Opps! Toncoin (TON) is no longer one of the top 10 most valuable cryptocurrencies in the world, following an update from The Open Network to more accurately reflect the asset's circulating supply via price trackers.

Here are the top trending coins for this week!

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