Memecoins stage comeback after crash, Doge, Pepe and Ladys in the news

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Last Updated on 4 March 2024 by CryptoTips.eu

Memecoins were all over the news this week. Even though these highly volatile coins are not really contributing to the credibility of Bitcoin, Ethereum and other major coins, they are of course very entertaining.

Pepe made millionaires out of young traders and even forced Coinbase to its knees, Ladys went up 5,000% in one day following a tweet from, who else, Elon Musk, and Twitter’s new CEO, Linda Yaccarino, is turning out to be a fan of Dogecoin.

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Hype

Every year there is one or the other group of coins that crypto followers on social media get excited enough about to increase or decrease its price by several thousand (in Pepe’s case, even millions) percentage points in a single week.

The hype of meme coins is usually exciting, but often followed by a market crash, similar to what we saw with DOGE and SHIB two years ago

Said Youwei Yang, chief economist at publicly traded bitcoin mining company, BTCM.

Pepe saw a small crash this week, and where many thought Sponge (based on the cartoon Spongebob Squarepants) would take over it’s popularity, it turned out to be the ‘Milady’ coin (Ladys) that took the spotlight. That coin is up some 33% in the past 24 hours.

Especially after Tesla CEO Elon Musk tweeted an image which appeared to approve of the new figure, the coin went viral, at one point even growing by 5,000%. As explained, these coins are highly volatile.

The Pepe community was stirred when it became known that the largest US crypto platform, Coinbase, did not want to place their newly favorite coin for trading. After a brief but fierce threat of a Coinbase boycott by “crypto twitter” (the term #deletecoinbase was trending in the US for a while), the company reversed its decision and issued an apology, stating that Pepe would soon be offered.

Dogecoin fan

Lastly, Twitter’s new CEO Linda Yaccarino appears to be a fan of Dogecoin, at least according to her own Twitter profile. Linda follows several important personalities who do nothing but Tweet about the coin with the Shiba Inu dog as an image.

For example, she follows Billy Markus; DogeDesigner and Sir Doge of the Coin, just to name a few. Who knows, that rumored Dogecoin ‘tip jar’ on Twitter might one day become a reality.

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / [email protected]
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