{"id":11402,"date":"2024-03-07T18:02:16","date_gmt":"2024-03-07T16:02:16","guid":{"rendered":"https:\/\/forklog.com\/en\/celebrity-inspired-meme-tokens-surge-on-solana\/"},"modified":"2024-03-07T18:02:16","modified_gmt":"2024-03-07T16:02:16","slug":"celebrity-inspired-meme-tokens-surge-on-solana","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/celebrity-inspired-meme-tokens-surge-on-solana\/","title":{"rendered":"Celebrity-Inspired Meme Tokens Surge on Solana"},"content":{"rendered":"<p>Meme coins with misspelled celebrity names like Jeo Boden, Danold Tromp, and Olen Mosk have sparked a buying frenzy among Solana users.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">My Boden wallet this morning wtf <a href=\"https:\/\/t.co\/QrMAELPPom\">pic.twitter.com\/QrMAELPPom<\/a><\/p>\n<p>\u2014 Hector: Crypto Coin Buyer (@zKXBT) <a href=\"https:\/\/twitter.com\/zKXBT\/status\/1765392778912039009?ref_src=twsrc%5Etfw\">March 6, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Below are other assets in the category.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/1-945.webp\" alt=\"1-945\" class=\"wp-image-227732\"\/><figcaption class=\"wp-element-caption\">Data: <a href=\"https:\/\/dexscreener.com\/\">DexScreener<\/a>.<\/figcaption><\/figure>\n<p>Interest in the segment arose after an improvement in market sentiment led to double- and triple-digit price surges within a week for DOGE, SHIB, BONK, PEPE, and WIF.<\/p>\n<p>In their early days, these \u201cfunny\u201d meme coins, inspired by the Uncle Dolan comic, rapidly increased in value. <\/p>\n<p>For instance, Jeo Boden&#8217;s price soared by ~12,000%, with its market capitalization reaching $49 million. Interest may have been sparked by the upcoming March 7 address by U.S. President Joe Biden to Congress on the state of the nation.<\/p>\n<p>Those looking to lock in profits should consider the low liquidity of these assets. For example, Jeo Boden&#8217;s daily turnover is $250,000, while Danold Tromp&#8217;s is $75,000.<\/p>\n<p>Martin Lee from Nansen Data explained to <a href=\"https:\/\/www.theblock.co\/post\/281063\/misspelled-celebrity-memecoins-on-solana-surge-in-price-such-as-jeo-boden-danold-tromp-and-olen-mosk\">The Block<\/a> that <a href=\"https:\/\/ru.wikipedia.org\/wiki\/%D0%91%D0%BE%D1%8F%D0%B7%D0%BD%D1%8C_%D0%BF%D1%80%D0%BE%D0%BF%D1%83%D1%81%D1%82%D0%B8%D1%82%D1%8C_%D0%B8%D0%BD%D1%82%D0%B5%D1%80%D0%B5%D1%81%D0%BD%D0%BE%D0%B5\">FOMO<\/a> is driven by low transaction fees.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u201cSolana is an inexpensive network that creates a much more trader-friendly environment for those moving further along the risk curve. Extremely small bets on highly speculative assets are a popular strategy when gas fees are just a few cents,\u201d<\/em> he explained.<\/p>\n<\/blockquote>\n<p>According to the expert, as the price of major cryptocurrencies rises, some traders tend to move further along the risk curve. <\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u201cWith the rapid recovery of prices for major digital assets like Bitcoin, Ethereum, and Solana, confidence in the market remains high, and traders are seeking greater profits,\u201d<\/em> he added.<\/p>\n<\/blockquote>\n<p>According to <a href=\"https:\/\/www.coingecko.com\/en\/categories\">CoinGecko<\/a>, the market capitalization of the meme coin sector decreased by 4.5% to $54.4 billion in a day. Over the past seven days, the figure rose by 74.2%.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/2-736.webp\" alt=\"2-736\" class=\"wp-image-227733\"\/><figcaption class=\"wp-element-caption\">Data: CoinGecko.<\/figcaption><\/figure>\n<p>As reported by Bybit analysts, they <a href=\"https:\/\/forklog.com\/en\/news\/bybit-identifies-ethereum-as-leading-institutional-crypto-asset\">assessed<\/a> the share of altcoins in retail investors&#8217; portfolios at 28.8% as of January 31, while for institutional investors it was 5.16%.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Meme coins with misspelled celebrity names like Jeo Boden, Danold Tromp, and Olen Mosk have sparked a buying frenzy among Solana users. My Boden wallet this morning wtf pic.twitter.com\/QrMAELPPom \u2014 Hector: Crypto Coin Buyer (@zKXBT) March 6, 2024 Below are other assets in the category. Data: DexScreener. Interest in the segment arose after an improvement [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":11401,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1145,1161,1159],"class_list":["post-11402","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-market-analysis","tag-memes","tag-solana-sol"],"aioseo_notices":[],"amp_enabled":true,"views":"21","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/11402","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=11402"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/11402\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/11401"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=11402"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=11402"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=11402"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}