Crypto EcoBlog
A failed assassination attempt on former US President and 2024 presidential nominee Donald Trump has caused Trump-related memecoins to surge in price. Simultaneously, his odds to win this year’s presidential election shot up on the prediction market Polymarket. MAGA (TRUMP), the largest Trump-related memecoin by market cap, rallied up by 30% immediately after the incident. Its price went from $6.31 to $10.36, taking its market cap up by the hundreds of millions, from $293 million to $469...
Read More »Dogecoin Sees Biggest Liquidations Since 2021, $60 Million in Longs Flushed Out
Memecoin bulls braced for impact as the largest asset of this kind by market cap, Dogecoin, dropped by over 10%. $60 million in DOGE futures got wiped out as a result. Huobi accounted for more than $44 million of those liquidations. Data revealed they were associated with longs – positions harnessed by users to speculate DOGE’s price rise. In contrast, only $600,000 worth of DOGE shorts, which users open to bet against the memecoin dropping in value, got liquidated in the past 24 hours. This...
Read More »MOTHER Memecoin Rises After Its Celebrity Founder Iggy Azalea Announces New Utility
MOTHER, a memecoin launched by rapper/songwriter Iggy Azalea, stirred up a community-wide debate on X last week. Figures like Vitalik Buterin chimed in with their takes as MOTHER and other celebrity-launched memecoins made their way into the market as crypto prices rallied. Vitalik commented on a post about the MOTHER token, in which he stated, “I’m feeling quite unhappy about with “this cycle’s celebrity experimentation” so far.” Many took the opportunity to go back and forth about it. Iggy...
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