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- Memecoin Journal - Week 1 2025
Memecoin Journal - Week 1 2025
Weekly update on all things Memecoins
TL;DR
DOGE is up
SHIB is up
Memecoins Redefining Digital Value: DWF Labs Report
Shiba Inu Burn Rate Drops 90% Amid Whale Activity
Kekius Maximus falls as Elon Musk swaps X avi
Solana Surges Above $200 Amid $55M Transfer and ETF Anticipation
PENGU’s Rally: Whale Activity, Market Sentiment & Key Resistance Levels
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Dogecoin Price
Crypto is up this week, with DOGE being up 13.68% and SHIB up 7.12%:
Dogecoin (DOGE) Weekly Analysis
Market Trends
Dogecoin continues to attract attention with a steady upward price trajectory. The coin is trading at $0.3612, marking a 3.55% increase in the past 24 hours, and boasts a market cap of $53,203,071,946.41. DOGE's circulating supply stands at 147,314,376,384 DOGE with a maximum supply of 147,470,006,384 DOGE. Over the last 24 hours, the token witnessed a trading volume of approximately $4 billion. A recent update also allows users to view Dogecoin prices in INR, expanding accessibility in the Indian market.
Whale Activity Signals Optimism
Whale activity has surged, with large holders accumulating over 1 billion DOGE tokens, collectively reaching 46.36 billion DOGE. This accumulation reflects growing optimism about Dogecoin’s future. The bullish sentiment is further bolstered by a Supertrend signal and historical trends of strong rallies following similar technical setups. Analysts suggest these factors could signal robust price potential for DOGE heading into 2025.
Market Outlook
Dogecoin’s price momentum and whale activity highlight increasing market confidence. The interplay between technical indicators and growing adoption will likely shape DOGE’s performance as it navigates market fluctuations. Traders and investors will closely monitor developments for potential long-term gains.
is inevitable
— Elon Musk (@elonmusk)
3:53 PM • Nov 25, 2024
Financial News
Solana's price rebounded by 10% to exceed $200 following Pump.fun’s two substantial SOL transfers to Kraken, totaling $55 million. The recovery began at 6:00 PM UTC after a dip to $189 earlier that day. Pump.fun, a memecoin platform, has contributed over $303 million worth of sell pressure in 2024 but retains significant influence on market movements. Additionally, anticipation for a U.S. spot Solana ETF is growing, with 76% probability according to Polymarket. Major firms like VanEck and Grayscale are in contention for approval. With precedents like Brazil’s ETF and Bitwise’s $750 price target, SOL remains a key market focus.
Despite a slowdown in the memecoin market, Pump.fun has earned nearly $400 million, with 2,016,391 SOL tokens reported as revenue. The Solana-based memecoin generator saw a record-breaking month in November, earning $106 million in decentralized app revenue. In December, while the memecoin market cap declined by over $40 billion, Pump.fun's revenue remained strong, with continued user activity. However, the platform faced challenges, including backlash from harmful content on its livestream feature and scrutiny from the UK's Financial Conduct Authority. Despite these setbacks, Pump.fun continues to thrive, highlighting its resilience in the evolving memecoin market.
Floki DAO has unanimously voted to allocate a portion of its 16.3 billion tokens from the community buyback wallet as liquidity for the upcoming Floki exchange-traded product (ETP). Set to launch in early 2025, the ETP will provide European traditional finance investors exposure to Floki, a memecoin ranked 66th by market cap. The listing on the SIX Swiss Exchange aims to enhance Floki’s legitimacy. While memecoins have been the second-best-performing crypto narrative in 2024, debates persist on their speculative nature, with calls for more utility-focused blockchain applications.
A Shiba Inu whale accumulated 220 billion SHIB tokens, worth $4.63 million, in 24 hours, contributing to a broader trend where whales increased holdings by 2.3 trillion tokens in the past week. This surge in accumulation comes after a period of downward price movement, with SHIB seeing a 10% rise since New Year’s Eve. Analysts suggest that whale activity, combined with reduced supply and increased scarcity, indicates confidence in a price recovery. The positive sentiment, marked by rising stock-to-flow ratios, hints at further upward momentum, with SHIB potentially targeting $0.000023 and beyond.
Dogwifhat (WIF) rallied over 1,000% in 2024, but its momentum waned in December with a 42% drop. Currently trading at $1.77, WIF has formed a "death cross" on its chart, signaling a potential bearish trend. The 50-day EMA dropped below the 200-day EMA, suggesting further declines. If support at $1.72 fails, WIF could fall to $0.31. The Relative Strength Index (RSI) shows increased selling pressure, indicating a downtrend. Despite a higher number of long traders, a price drop could trigger liquidations, pushing WIF lower. It now ranks fourth among Solana’s memecoins with a $1.8 billion market cap.
Adoption News
SKI, the native token of Ski Mask Dog, saw a 25% increase in value after news broke that U.S. Representative Michael Collins invested an additional $15,000 in the token. Built on Coinbase’s Layer 2 blockchain, SKI has gained attention for its strong community support, leading to a surge in both price and trading volume. Following Collins' involvement, community speculation about a potential Binance listing grew, fueling further momentum. As SKI trends positively, analysts predict continued growth, supported by strong market activity and bullish sentiment among investors.
DWF Labs’ report highlights the significant rise of memecoins, which have evolved from humorous trends to a major force in digital asset markets. Their market cap surged from $20 billion in January 2024 to over $120 billion by December, driven by community engagement and cultural narratives. Memecoins follow a four-phase lifecycle, from token creation to social capital formation and decentralized trading. The report suggests that memecoins challenge traditional finance by prioritizing community support over financial metrics and operational history. While facing sustainability concerns, memecoins are seen as crucial drivers of innovation within digital economies.
Brett, the leading meme coin on the Base Blockchain, has surged by 25%, reaching $0.1350, following a whale purchase of $1.7 million worth of tokens. This recovery is part of a broader rally in the crypto market, driven by optimism surrounding the inauguration of Donald Trump, SEC changes, and FTX fund distribution. Technical analysis suggests Brett is forming a bullish pattern, including a falling wedge and cup-and-handle, potentially pushing its price to $0.3335. However, a drop below $0.10 would invalidate this bullish outlook, highlighting key technical and market-driven catalysts.
Shiba Inu’s burn rate dropped dramatically by 90.69% in the past 24 hours, despite ongoing efforts to reduce supply through token burns. While burn efforts typically drive scarcity and demand, the impact on SHIB’s price has been limited. Whale transactions continue to influence SHIB’s price volatility, contributing to both liquidity concerns and speculative price surges. Although weekly burns showed a modest increase, SHIB’s price remains sluggish, reflecting broader market uncertainty and a lack of broader utility. The combination of reduced burn rates and whale activity continues to present challenges for SHIB’s long-term price growth in 2025.
Kekius Maximus, a meme coin on Ethereum and Solana, experienced a significant drop following Elon Musk’s removal of the token’s name and avatar from his X profile. Launched in December 2024, the coin had seen massive gains, rising over 30-fold from $0.01 to $0.39 due to Musk’s association with it. However, after Musk’s profile changes, the token's value plummeted, reducing its market cap from $380 million to $77 million. This shift also affected copycat tokens on Solana. Some early investors profited, while others missed out on significant gains before the price collapse.
Ecosystem News
Memecoins have evolved into a significant market vertical, merging social dynamics, technological innovation, and market psychology, according to DWF Labs. The memecoin market cap surged 500% in 2024, peaking at $137 billion before settling at $98 billion in December. This growth reflects a shift in how younger investors approach wealth creation and community building. The report highlights the democratization of capital markets enabled by crypto infrastructure, allowing meme-based projects to thrive. Trends for 2025 may include "agentic memecoins" tied to AI and thematic coins based on trending topics. Despite fluctuations, memecoins represent a new paradigm in digital value creation.
Web3's growth has led to significant shifts in digital society, with a concerning power imbalance between creators and consumers. While decentralized governance is integral to Web3’s vision, many projects have become exploitative, leaving creators with disproportionate control. Memecoins, often designed for specific communities, can help shift this dynamic, particularly when paired with Decentralized Autonomous Organizations (DAOs). DAOs enable memecoin holders to govern collectively, ensuring that decisions are made with community interests in mind. By empowering communities with decentralized governance, Web3 can achieve its potential to democratize finance and provide more equitable opportunities for all.
PENGU recently surged by 15.14% to $0.03435, driven by whale activity and rising market sentiment. A newly created wallet moved $3.13M worth of PENGU tokens from Binance, coinciding with a 113.43% spike in 24-hour trading volume to $734.47M. The token faces key resistance at $0.0370 and support at $0.0299, with a potential breakout above the former targeting $0.04. Mixed technical indicators show bullish momentum, though weak trend reinforcement. Social dominance fluctuated, reflecting alternating retail and whale interest. Open Interest increased by 31.59%, and balanced liquidation dynamics suggest a stable, speculative environment.
