Poopcoin (POOP), a new cryptocurrency, was just introduced by the co-founder of the NFT Doodles project, along with an airdrop announcement for his community.
Jordan Castro, also known as Poopie, the co-founder of Doodles, just started the Poopcoin meme using the code POOP.
The market capitalization of POOP increased to $7 million USD in the first 10 hours of its launch with approximately 60 million USD in trading activity; however, during the day, this amount fell off significantly.
Poopie also announced the POOP airdrop for owners of NFT Doodles and a few other early users, such as those who have sold NFTs and minted Doodle, at the same time. Poopcoin was developed using Base, Coinbase’s layer-2 Ethereum network.
Two wallets containing 36% of the entire token supply were found right after Poopie “goes to the shelf”. whereby a wallet has amassed more than 23.5% of the supply and retains 20% on 95 wallets, resulting in a transient profit of more over 450,000 USD.
The price of POOP has dropped by about 45% in the last day and is currently trading on DEX Uniswap (Base network) at 0.009581 USD per coin.
Memecoin has seen “hype” over the last several months, but it hasn’t showed any indications of abating. Vitalik Buterin, the inventor of Ethereum, has expressed his opinions on this topic as well. Even if he claimed that “memecoin has more utilities than we think,” he did not fail to criticize initiatives that endanger the ecosystem.
Base Meme Coin Season: How Crypto Trader Turned $113,000 Into Millions
The story of a cryptocurrency trader who invested $113,000 and ended up with $3.4 million shows how profitable meme currencies on the Base network can be.
Crypto Whale Is Still Gathering Base Meme Coins
The dealer began their business by bridging 38 Ethereum (ETH) to Base, which is estimated to be worth $113,000 in total. On March 2, they then purchased 85.36 million Degen (DEGEN) using 31.6 ETH, or almost $108,000.
Notably, the trader retained 12.6 million DEGEN, which is currently valued at $600,000. The dealer sold 72.73 million DEGEN for 2.83 million USDC.
DEGEN has been more popular since its inception in early 2024, particularly on platforms like Warpcast and other DApps created by Farcaster. The excitement that its community has for tipping is a reflection of SocialFi’s increasing power.
Last month, DEGEN’s value increased by more than 4,400% in an incredible market shift. Notable investors are nonetheless buying DEGEN in spite of this, indicating persistent market confidence.
One notable transaction, for example, showed noteworthy market activity when a crypto whale bought 38.95 million DEGEN for 552 ETH (~ $2 million).
Furthermore, the change from Solana to Base meme currencies represents a significant trend change. Analyst Rekt Fencer, who made money with Solana meme currencies in the past, is now an advocate for Base tokens, pointing to their enormous gain potential. To further increase the popularity of the platform, Coinbase plans to introduce features that will enable its 100 million users to trade on Base seamlessly.
Moving to Base denotes a calculated quest for fresh cryptocurrency wealth pathways. If used wisely, meme currencies, which are fueled by robust community support and social media impact, provide significant profit prospects.
A memecoin’s ability to thrive depends on its community. Active online involvement in tokens is typically a good indicator of future growth. The economic impact of memecoin is evident despite some skepticism, and proponents like Fencer are advising traders to take advantage of this trend for substantial profits.
Vitalik Buterin of Ethereum imagines meme money supporting social causes and fostering the blending of philanthropy and entertainment. He supports high-quality projects that go beyond user interest and have a good social impact.
On the other hand, Solana Labs’ Anatoly Yakovenko condemns the use of charitable donations to justify meme coins and favors meaningful personal deeds above materialistic ones.
“I’d rather see people that hodl a memecoin change their behavior and go do something good, like walk dogs at a dog shelter and encourage other hodlers to do the same,” Yakovenko said.
Telegram allows users to pay for ads with TON, sharing half of the revenue to the channel owner
Telegram is a well-liked messaging software in the cryptocurrency sector that uses a TON payment advertising strategy and formally distributes 50% of money to channel owners.
Telegram unveiled a new advertising plan for its messaging service at the beginning of April 2024. Specifically, Toncoin (TON) may be used as a direct form of payment by individuals who wish to sell adverts on Telegram channels.
Telegram explains that it chose TON as the payment currency because it values this network’s cheap costs and quick transaction speeds. As a result, those who wish to promote merely need to make a small payment.
According to Telegram, their new advertising strategy differs from other social media sites in that it does not make recommendations for advertisements based on user information. Alternatively, those who would like to run their own advertisements can select the exact channel on which they would like it to run.
At the end of February, this is in addition to the re-sharing of 50% of advertising income to channel owners. A public Telegram channel that accepts advertisements will receive half of the income as long as it has 1,000 followers (subscribers) or more.
Channel owners may keep the money to purchase other things in the app or withdraw it in the form of the TON token at no cost.
The price of TON has not changed significantly during the last day, circling about $5.25. It should be mentioned that although TON has not yet been listed, it already has a futures trading pair on Binance.
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