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Andrew Tate is an American-British social media personality, businessman, and former professional kickboxer.
Andrew Tate wrote in his X post that he generated $85 Million in the last bullish phase of the market by investing in the decentralized exchange PancakeSwap.
In his post, he specifically emphasized the importance of distinguishing between speculative memecoins and genuinely innovative blockchain projects.
“There’s meme coins that’s great. But each bull run there are genuinely technological useful or innovative blockchain coins,” Tate added.
The last bull run was Defi land. Made 85M on Pancake. Do you know what they are in this bull run?
Tate’s book made a massive profit when leading memecoins such as Dogecoin and Shiba Inu fell freely. However, some newly launched memecoins have outperformed and surged more than 500% in a few months.
Over half of the dozens of memecoins based on the Solana blockchain have pulled the memecoin community to the next level and enhanced it.
Trending Memecoins in 2024!
According to CoinMarketCap, there are 1840 listed memecoins in the crypto market, and their collective market capitalization is $47,294,689,105. Other than Tate, more influencers and market traders booked millions in the past 90 days.
However, some specific memecoins are under speculation, and there are claims that some big investors or traders were behind their growth.
In the weekly time frame, Book of Meme (BOME) surged 1061.89%, Cheems (CHEEMS) 65.06%, Wownero(WOW) 52.07%, and Coconut Chicken (CCC) 41.25%.
Dogwifhat (WIF) has been in the spotlight since the beginning of 2024, and it grew 1382% in the past 52 weeks. Floki Inu’s (FLOKI) price surged over 4840% in all time frames.
Doge Killer (LEASH) is the topper of the memecoins in price, trading at $498.17. Dogecoin (DOGE) has the highest market capitalization, followed by Shiba Inu (SHIB), Pepe (PEPE), and Dogwifhat (WIF).
Crypto Market Update
The market capitalization has slipped over 6.31% in the past 24 hours and reached $2.4 Trillion as of writing.
Bitcoin, the most prominent crypto, lost 7.31% of its trading price intraday and slipped below $65k. When writing, it was trading at $63,181; earlier this week, the price reached its all-time high.
BTC and other coins/tokens also lost a significant amount of their trading price; Ethereum, the second most talked about crypto, lost 7.41% of its trading value. It is crucial to note that the market’s intraday trading volume grew 25%.
In the past 24 hours, the trading price of Solana (SOL) slipped 10.69% when it was trading at $184.73. As per market observers, the decline in the price is influenced by the news of Slerf memecoin.
BNB (BNB), the native cryptocurrency of the Binance blockchain, has surged more than 50% in the past 52 weeks. When writing, it was trading at $515.51; its trading volume spiked 23.53% intraday.
Disclaimer
The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
