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From their bull market cycle tops, Solana has dropped 95% to a little over $10. Comparatively, Dogecoin is currently down a mere 88% from its cycle high, meaning that DOGE, the meme coin leader, has outperformed SOL, a Layer 1 and highly adopted blockchain.
Does this signify a change in meme coin common conception?
Dogecoin’s ‘strength’ in the wake of this crypto collapse is very imposing. Typically, meme coins would experience the highest level of destruction in crypto capitulation events. However, as we are seeing, this is not the case for now; a great deal of this must be put down to the ‘Elon Factor’.
Elon is a perma-bull of DOGE and now he owns Twitter, the likelihood of an integration between any number of his companies and Dogecoin is extremely likely. Already acting as a medium of exchange for various Tesla products, Elon will likely implement the meme coin into Twitter payment methods as well.
When trying to get to grips with the extent of Elon’s eventual impact on the Dog blockchain, it is highly probable that Elon could directly work with the project. If he were to integrate the system fully into even just Twitter, or just Tesla, it would necessitate his direct involvement to ensure that the payment system is up to scratch.
This is what gives DOGE the value it has, thanks to Elon’s love of the meme coin, there is no limit to what Dogecoin could achieve. Its bear market performance versus Solana is another contributing component to the notion that DOGE could become a globally adopted payment system.
SOL was once upon a time considered the leading technology in the cryptocurrency space… Look what has happened to the SOL token since. This is not, however, a condemnation of Solana. The blockchain will likely bounce back due to the limited involvement it has with the FTX and Alameda debacle. Unfortunately for Solana, much of its native token was held on Alameda’s asset sheet before the company became insolvent. Its bear market capitulation has been a product of bad luck and poor investors. Regardless, the relative success of DOGE has inspired many investors to try to find the next explosive meme coin…
Could it be Big Eyes Coin?
The fundamentals behind Big Eyes Coin certainly suggest so. First and foremost, Big Eyes is a cute animated cat, not a dog! The current meme coin market is saturated with 95% of the coins centred on the doge. Big Eyes looks to inject itself right into the middle of this market, breaking up the current status quo.
Marketing will be crucial for Big Eyes to succeed in this mission, and the development team have an abundance of great marketing concepts. Very soon, Big Eyes, the cat, will feature on Times Square’s (New York) 3D billboard. It is estimated that between 300,000-400,000 different people walk past this board every day. That is nearly half a million direct impressions.
This is a huge step forward for the Big Eyes brand and should instigate further growth of the community and project adoption. The team have a huge amount lined up regarding marketing stunts and strategies, and the volume of cash raised so far is a testament to that.
Raising nearly $10 million in a bear market is unprecedented in the P2P meme coin industry and this number doesn’t show any signs of stopping. Given DOGE’s success and Elon Musk’s favour towards the meme coin as a payment solution, the future looks very bright for Big Eyes. Check the button below for more information on Big Eyes Coin and check out this youtube video for what the community thinks about it!
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