• Meme cash have a market cap of over $60 billion.

• Tokens like Pepe and Bonk have made many millionaires.

• SolJu may very well be the following massive factor within the meme coin trade.

Meme cash have executed effectively this 12 months, as they outperformed most mainstream cash like Bitcoin, Ether, and Ripple. Some, like Pepe and E book of Meme (BOME) have surged to a file excessive whereas the entire market cap of all cash has soared to over $60 billion. SolJu, an upcoming Solana meme coin, may very well be the following massive factor within the trade.

Why meme cash soared

There are three major the reason why meme cash have executed effectively this 12 months. First, most of those tokens soared as a way of greed unfold available in the market. The concern and greed index has largely been within the inexperienced this 12 months as buyers anticipated charge cuts by central banks just like the Federal Reserve and the ECB. 

Second, meme cash jumped due to Bitcoin’s efficiency. Bitcoin, the largest crypto on the earth, jumped to a file excessive in March as buyers cheered the approval of Bitcoin ETFs by the Federal Reserve. Since then, these funds have seen inflows of over 800k Bitcoins and the development could proceed.

The main target now shifts to the upcoming approval of Ethereum ETFs. In an announcement final week, Gary Gensler predicted that these approvals will occur later this 12 months. 

Meme cash are likely to do effectively when Bitcoin is prospering due to their cheaper costs. Because of this, most buyers purchase them as a substitute of the extremely costly cash like Bitcoin, Litecoin, and Bitcoin Money. 

Moreover, the idea of meme buying and selling has rebounded as evidenced by corporations like GameStop and AMC. Additionally, merchants are being incentivised to purchase meme cash by actions in social media.

SolJu may very well be the following massive factor

Now, focus amongst meme crypto buyers has shifted to SolJu, a brand new Solana meme coin that might be launched on Tuesday. 

This can be a meme coin that has been impressed by the success of Beercoin, a token whose market cap jumped to over $300 million just lately. 

Its title is derived from Sol – for Solana – and Soju, a well-liked South Korean spirit. As such, the hope is that the token might be a social platform the place Solju holders will collect and kind a makeshift gathering with beer and meals. 

SolJu will forego the favored route of a token sale. As a substitute, the builders are planning a good sale, the place all tokens might be launched after which the market discovery will assist to find out its worth. 

The preliminary provide of the token might be 100 million tokens whereas the preliminary liquidity might be $12,000. The beginning price might be $0.00012, giving it room to develop within the coming months.

After the launch, the builders goal to spice up its price by alternate listings, video games, and partnerships within the crypto neighborhood. You may study extra about SolJu right here.