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Robert D. Knight
August 9, 2021
The public love meme tokens, but will these shitcoins become hit-coins, or will those micro-caps turn to mega-crap?
Not Only The Cream Rises
Micro-cap memecoins are garnering significant interest from retail investors, according to the latest chart data from CoinMarketCap (CMC). Of the top 10 ‘Most Visited’ pages on the price-tracking website, nine out of 10 are micro-cap coins.
The odd man out of the group, and the only major player to make the top 10, is Bitcoin, which slips into the chart at the lowly position #9. This puts it four places behind Baby Poocoin at #5, and eight places behind the chart-topping Golden Doge at #1.
Rags to Riches to Rags
Investing in meme tokens is a highly risky strategy for any investor. In a tweet on August 8th, popular crypto educator Bagsy, offered some advice for anyone who might be considering an altcoin investment.
“If you're asking yourself which #altcoin has a higher likelihood of future price appreciation, bet on the exchanges and protocols that are producing fees and income, not shitcoins with f***ed token metrics and the avatar of a cute animal,” he opined.
While protocols and exchanges may be where the smart money is, sometimes the dumb money wins.
As we reported in May, a crypto trader called ‘The Kennel Master’ successfully transformed $1,800 into $3.5 Million in a matter of months, trading only dogcoins.
It wasn’t all upwards travel. The dogcoin market later stalled, and some tokens retraced, erasing a significant chunk of Kennel Master’s gains.
To underline the danger, these tokens pose data provided by Kennel Master shows that some of those dogcoin investments transpired to be rugpulls or scams.
From Genesis to Flood
In 2008, Satoshi Nakamoto published the Bitcoin whitepaper, ‘Bitcoin: A Peer-to-Peer Electronic Cash System”. In this ‘let there be Bitcoin’ moment, the world was introduced to blockchain technology and decentralized uncensorable money.
With that also came lofty ideals of money without borders, banking the unbanked, and a fairer, more democratic financial Eden, free of the overreach of centralized authorities.
Today, blockchain technology is drowning in a deluge of cat and dog coins, including Pampther (#7 on the CoinMarketCap’s most viewed list) and Shiba Inu (#10). They are joined by animals of all varieties, copied and emulated in two-by-twos, dovetailing the memecoin arc even as the crypto community strays further from Satoshi’s light.
The animals are not alone. They have company in the form of mothers, fathers, babies, cute anime characters, literal shitcoin, and Elon Musk’s sperm.
CoinMarketCap data proves just how successful these coins are in capturing retail interest, at least in the short term. Longevity is far from guaranteed, however.
The Most Viewed Crypto Top 10
Golden Doge - A variation of the Shiba Inu dogcoin craze. Transaction fees are collected into a ‘vault’ which pays out to users in the form of BNB every 24 hours.
MoBTC - Earn 5% on all transaction fees with “Mindless Mining” from “Mother of Bitcoin.”
DirtyDoge - “The dirty girl of the Doge family.” Website down at time of press.
RichQuack - A get rich quack scheme. 5% transaction fees and deflationary tokenomics.
Baby Poocoin - It’s a poo.
Catgirls - You can finally own an NFT catgirl, if owning an NFT catgirl is relevant to your personal interests. Go ahead, we’re not shaming you.
Pampther - A deflationary token on Binance Smart Chain which also includes its own game.
Ethereum Chain Token - The most 100% genuine not actually anything to do with the real Ethereum token on Ethereum.
Bitcoin - The original micro-cap gem. Has since moved on to bigger things.
Shiba Token - One of the more successful Shiba Inu projects. This one has demonstrated some longevity.
Having Fun(?)
For crypto degenerates who invest in memecoins, profit may only be one consideration. Traders such as Kennel Master seem to revel in the sheer stupidity of memecoin trading, treating its volatility as a feature rather than a bug.
There is also the social aspect to trading shitcoins, which often have dedicated Telegram communities of highly engaged users. This promotes creativity, camaraderie and a twisted sense of humor.
Memecoin collectors who can afford to take both profits and losses in their stride may find there is fun to be found in this market. For those who have more modest bankrolls, memecoins may not be a wise investment strategy.
After all, losing all of your capital in a shitcoin rugpull must be one of the saddest reasons to return to work.
This is a paid Ask Me Anything (AMA), BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement AMA for $2000 Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the AMA.
Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2000. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2000. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
January 27, 2022
UniSwap Founder Sees JP Morgan Bank Account Closed
Crypto continues to see more adoption, and banks may ultimately have to adjust in favor of the trend.
Account Terminated
American banking giant, JP Morgan Chase has closed the accounts of the founder of UniSwap, Hayden Adams. No reason has been given for the closure, and Hayden seemed completely taken by surprise.
The closure of Hayden's accounts in JP Morgan might be linked to his status as a crypto activist. Indeed, some of his associates reported having had a similar experience with the same bank.
"This week @jpmorgan @Chase closed my bank accounts with no notice or explanation. I know many individuals and companies who have been similarly targeted simply for working in the crypto industry," the UniSwap founder wrote in a January 23 tweet.
Tug of War
JP Morgan's action would seem ridiculous, considering that it offered neither explanation nor prior notice why Hayden's accounts were closed. It shows clearly how helpless one can easily be in the hands of the centralized financial system. It is not an isolated incident, as such actions by banks have been made in different parts of the world - including the writer's home country, Nigeria.
Decentralization and crypto promise financial freedom for the masses, and the hostility directed at users by banks and governments tend to justify the growing adoption of decentralized finance. The fact that banks could shut out a high-profile personality like Hayden Adams shows how vulnerable every other crypto user is.
According to Chainalysis, the worldwide adoption of crypto in 2021 increased by over 880%. This goes to show that the momentum is on the side of decentralization rather than centralization. Actions such as JP Morgan's will encourage people, rather than discourage them, to take control of their finances via crypto––stablecoins in particular.
Seeing the rate at which the number of crypto users is growing, it may only be a matter of time before banks realize the yearning of the majority and adopt a crypto-friendly disposition.
Don’t forget to download the BSC News mobile application on iOS and Android to keep up with all the latest news for Binance Smart Chain and crypto! Check out the DeFi Direct Linktree for all the access links!
For those looking for tools and strategies regarding safety and crypto education, be sure to check out the Tutorials, Cryptonomics Explainers, and Trading Tool Kits from BSC News.
January 27, 2022
SafeMoon Coin Wallet Surpasses 1 Million Users
The SafeMoon Army continues to prove itself as one of the strongest communities on Binance Smart Chain.
SafeMoon Wallet Hits Milestone
In a strong testament to community support, the SafeMoon wallet has officially surpassed one million users. The Safemoon Army achieved the feat in less than five months.
SafeMoon made the announcement via Twitter on January 25 following a few days of teasing users that the big day is almost here. The achievement also comes with the added bonus that the SafeMoon community will get to see CEO John Karony eat pineapple, something which he despises!
“WE DID IT!! The #SAFEMOONARMY has blasted past 1 MILLION #SAFEMOONWALLET downloads in under 5 months! 🌑🚀 There is no sign of slowing down... next stop, 2 MILLION! What might we do when we hit that milestone? 🍍” the SafeMoon account tweeted, hinting at the pineapple emoji.
The SafeMoon Army is one of the strongest on Binance Smart Chain proven by the overwhelming number of holders and now wallet downloads. The recent V2 migration has also been successful, and the team behind Karony has a big vision for 2022. One of the key features to watch out for is their approach to sustainability.
What is SafeMoon?
SafeMoon is a alt-token that was launched in March 2021. It runs on the Binance Smart Chain and is a Decentralized Finance (DeFi) protocol.
SafeMoon has a very strong community behind it. Current statistics show that the protocol's token is held by almost 3 million people. On Twitter, SafeMoon has over 1.3 million followers.
SafeMoon token is deflationary. It slightly differs from other deflationary tokens in the sense that three functions happen with each transaction: reflection, liquidity pool (LP) acquisition, and burn.
For more about SafeMoon, visit the protocol on the following links:
Website | Whitepaper | Twitter | LinkedIn | Discord
Micro-cap Memecoins Continue to Garner Immense Retail Interest
The public love meme tokens, but will these shitcoins become hit-coins, or will those micro-caps turn to mega-crap?
Not Only The Cream Rises
Micro-cap memecoins are garnering significant interest from retail investors, according to the latest chart data from CoinMarketCap (CMC). Of the top 10 ‘Most Visited’ pages on the price-tracking website, nine out of 10 are micro-cap coins.
The odd man out of the group, and the only major player to make the top 10, is Bitcoin, which slips into the chart at the lowly position #9. This puts it four places behind Baby Poocoin at #5, and eight places behind the chart-topping Golden Doge at #1.
Rags to Riches to Rags
Investing in meme tokens is a highly risky strategy for any investor. In a tweet on August 8th, popular crypto educator Bagsy, offered some advice for anyone who might be considering an altcoin investment.
“If you're asking yourself which #altcoin has a higher likelihood of future price appreciation, bet on the exchanges and protocols that are producing fees and income, not shitcoins with f***ed token metrics and the avatar of a cute animal,” he opined.
While protocols and exchanges may be where the smart money is, sometimes the dumb money wins.
As we reported in May, a crypto trader called ‘The Kennel Master’ successfully transformed $1,800 into $3.5 Million in a matter of months, trading only dogcoins.
It wasn’t all upwards travel. The dogcoin market later stalled, and some tokens retraced, erasing a significant chunk of Kennel Master’s gains.
To underline the danger, these tokens pose data provided by Kennel Master shows that some of those dogcoin investments transpired to be rugpulls or scams.
From Genesis to Flood
In 2008, Satoshi Nakamoto published the Bitcoin whitepaper, ‘Bitcoin: A Peer-to-Peer Electronic Cash System”. In this ‘let there be Bitcoin’ moment, the world was introduced to blockchain technology and decentralized uncensorable money.
With that also came lofty ideals of money without borders, banking the unbanked, and a fairer, more democratic financial Eden, free of the overreach of centralized authorities.
Today, blockchain technology is drowning in a deluge of cat and dog coins, including Pampther (#7 on the CoinMarketCap’s most viewed list) and Shiba Inu (#10). They are joined by animals of all varieties, copied and emulated in two-by-twos, dovetailing the memecoin arc even as the crypto community strays further from Satoshi’s light.
The animals are not alone. They have company in the form of mothers, fathers, babies, cute anime characters, literal shitcoin, and Elon Musk’s sperm.
CoinMarketCap data proves just how successful these coins are in capturing retail interest, at least in the short term. Longevity is far from guaranteed, however.
The Most Viewed Crypto Top 10
Golden Doge - A variation of the Shiba Inu dogcoin craze. Transaction fees are collected into a ‘vault’ which pays out to users in the form of BNB every 24 hours.
MoBTC - Earn 5% on all transaction fees with “Mindless Mining” from “Mother of Bitcoin.”
DirtyDoge - “The dirty girl of the Doge family.” Website down at time of press.
RichQuack - A get rich quack scheme. 5% transaction fees and deflationary tokenomics.
Baby Poocoin - It’s a poo.
Catgirls - You can finally own an NFT catgirl, if owning an NFT catgirl is relevant to your personal interests. Go ahead, we’re not shaming you.
Pampther - A deflationary token on Binance Smart Chain which also includes its own game.
Ethereum Chain Token - The most 100% genuine not actually anything to do with the real Ethereum token on Ethereum.
Bitcoin - The original micro-cap gem. Has since moved on to bigger things.
Shiba Token - One of the more successful Shiba Inu projects. This one has demonstrated some longevity.
Having Fun(?)
For crypto degenerates who invest in memecoins, profit may only be one consideration. Traders such as Kennel Master seem to revel in the sheer stupidity of memecoin trading, treating its volatility as a feature rather than a bug.
There is also the social aspect to trading shitcoins, which often have dedicated Telegram communities of highly engaged users. This promotes creativity, camaraderie and a twisted sense of humor.
Memecoin collectors who can afford to take both profits and losses in their stride may find there is fun to be found in this market. For those who have more modest bankrolls, memecoins may not be a wise investment strategy.
After all, losing all of your capital in a shitcoin rugpull must be one of the saddest reasons to return to work.
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