Sorry folks, looks like it’s going to be a red Christmas.
TL;DR
- The crypto market is experiencing a major reversal
- $PENGU shows strength during overall correction
- AI Agent tokens continue their takeover
- Hawk Tuah girl finally breaks her silence
- Solana’s DApp revenue hits new high
Intro
Sorry folks, looks like it’s going to be a red Christmas. While the dump after the Federal Open Market Committee (FOMC) meeting continues across all crypto sectors, AI Agents have been the first to recover.
The MemeFi market is doing well if you compare it to other sectors in the crypto space.
Haliey Welch finally made it back TUAH Twitter and says that she is innocent. Community notes do not seem to agree.
7-Day Meme Coin Market Snapshot
If your meme bags are feeling light this Christmas, that’s because they are. The overall meme coin market cap nosedived by 23% from $120 billion to $92 billion, as Bitcoin’s capitulation made riskier crypto bets unpalatable. It’s not just memes, as our AI guru Daniel reports, crypto AI is in a similar boat.
All the top meme coins dumped over the last seven days except PENGU, which ended green despite dropping 63% from its peak right after launch.
Source: CoinMarketCap
Bitcoin continues its dump after Jerome Powell dropped a bombshell saying that the Fed is not allowed to HODL Bitcoin at present. Will Michael Saylor save our bags after pitching a U.S. crypto framework to Trump to save the dollar?
The latest trend in meme coins is to “believe in something” and not just ape every single hyped token that ends in a rug 99.99% of the time. Could sentient meme coins be that something?
The crypto majors, Bitcoin, Ethereum, XRP and Solana, are all down bad as the positive sentiment plummets and the Crypto Fear & Greed Index is at 70. Some would say that is not a bad thing at all.
Source: CoinMarketCap
Meme Coin Market vs Other Crypto Sectors
DeFiLlama's Narrative Tracker showed that PolitiFi dominated and the only other sector with positive gains in the last seven days was memes. Well, there’s something I guess.
The 30-day trajectory for meme coins showed strength even during an overall market correction and is up 100%.
Source: DeFiLlama
Top 20 Meme Coin Leaderboard
Most of the meme coins declined in value but many AI Agents are soaring to new heights, like GAME and CONVO, as everyone takes time off during the festive season—but not these robots.
Source: CMC Meme Coins Page
Meme Coin Charts: 7-Day Insights
It turns out penguins can really “fly" as PENGU is the only token from the top 20 meme coins by market cap holding the fort. RIP Peanut? Again?
Biggest Gainers (Last 7 Days):
- Pudgy Penguins (PENGU): +418.58%
Biggest Losers (Last 7 Days):
- Peanut the Squirrel (PNUT): -38.64%
- Gigachad (GIGA): -32.91%
- Popcat (POPCAT): -32.44%
- Dogwifhat (WIF): -31.81%
- FLOKI (FLOKI): -27.62%
Meme Coins by Chain
Solana Memes
- 1 Trillion BONK will be burned.
https://twitter.com/bonk_inu/status/1870367928090034308
- MEW licenses the Doge image from Own The Doge.
Ethereum Memes
Tron Memes
- It’s business as usual over at TBULL.
Most Tron meme coins have low market caps compared to tokens on chains like Ethereum and Solana, so they are extremely risky until proven otherwise.
SUI Memes
- LOFI prepares for round two of their airdrop.
Base
- AKUMA soars by 100% and feels nothing for the blood in the streets.
- BENJI rises by 11% as they claim to be the oldest dog breed in history.
- GAME is unstoppable, rising another 72% as the GAME SDK is live.
Bitcoin Runes
- Fees for minting on Runes have been lowered.
- DOG has almost touched a $1 billion market cap and is still not listed on any CEX.
Meme Coin News
Haliey Welch Breaks Her Silence
Haliey Welch, also known as the “Hawk Tuah Girl,” has become very unpopular after the launch of her HAWK token which dumped over 90% right after launch and has now been followed by a class-action lawsuit.
Welch promoted the meme coin which initially reached a market cap of nearly $500 million before crashing. After the incident she went silent but recently reappeared on X (formerly known as Twitter), announcing her cooperation with Burwick Law.
The lawsuit targets the team that collaborated with her, Alex Larson Schultz and Clinton So, alleging securities violations and deceptive practices. Welch is not named as a defendant and claims she was misled in her role.
Solana DApp Revenue Hits New High With Meme Coin Help
Solana’s decentralized applications (DApps) hit a new record in November 2024, generating $365 million in revenue, the highest monthly total yet, according to Syndica. Most of this came from decentralized finance (DeFi), which accounted for 84% of the earnings, while wallets and infrastructure brought in the rest.
Meme coins and their platforms were the biggest contributors to this surge. Revenue from meme coin DApps skyrocketed in 2024, bringing in over $500 million for the year. Pump.fun led the pack with $106 million in revenue last month.
Telegram-based trading bots like Trojan, Banana Gun and BONKbot also played a key role, earning over $300 million in revenue this year.
What Can You Do Next?
As we hit the final days of a crazy 2024, don’t panic too much. Meme coins thrive on specific market conditions, which will be in ample supply should we see the expected bull run in 2025. In the meantime:
- Choose quality over quantity and take a serious look at conviction plays that are now on sale.
- Keep an eye on the AI Agent sector; there is so much happening on a daily basis that could be the next Big Thing in 2025.
- Meme coins show signs of slowing growth. Make sure to have a diversified portfolio.
- Be careful of scams promoted by influencers and celebrities.
- Remember that meme coins often decline faster when the larger market retraces.
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