Meme cash have outperformed mainstream cryptocurrencies this yr.
These tokens have attracted substantial hype from buyers and merchants.
Piggy Bankster goals to be the next big identify in the meme coin trade.
Meme cash have achieved nicely this yr, outperforming standard cryptocurrencies like Bitcoin, Ethereum, and Cardano. Pepe, launched in 2023, has soared to a document excessive, giving it a market cap of over $6 billion.
Why meme cash soared
Other meme tokens like dogwifhat (WIF), Bonk, Book of Meme (BOME), and Dog Go to The Moon (DOG) have additionally achieved nicely this yr. WIF’s market cap has soared to over $3.3 billion whereas Bonk, BOME, and DOG are valued at over $2 billion.
Altogether, all meme cash tracked by CoinMarketCap have a market cap of over $63 billion. This makes them larger than many well-known firms like FedEx, Spotify, Workday, and Monster Beverage amongst others.
There are a number of explanation why meme cash have achieved nicely this yr. First, their efficiency was pushed by key information in the crypto trade. The Securities and Exchange Commission (SEC) approved Bitcoin ETFs in January. Since then, these ETFs maintain over $60 billion price of property, helped by sturdy institutional demand.
Second, the company has not too long ago permitted Ethereum ETFs and analysts count on that they are going to entice billions of {dollars} in property once they begin buying and selling. This approval implies that the SEC might approve different ETFs like Solana, Cardano, and Ripple.
Third, they rose due to April’s Bitcoin halving, which reduces the variety of Bitcoin rewards supplied to miners. In most circumstances, Bitcoin tends to rally forward and after halving.
Finally, there’s hope that the Federal Reserve will begin slicing rates of interest later this yr if inflation continues dropping. Cryptocurrencies and different threat property do nicely when the Fed turns dovish.
Meme cash do higher than different cryptocurrencies due to their decrease notional worth, elevated whale exercise, and their potential for enormous positive aspects.
Piggy Bankster might be the next big thing
Analysts imagine that extra meme cash will be launched in the coming months as builders search to learn from this demand.
One of the most anticipated meme cash will be Piggy Bankster, whose presale will begin on June 4th of this yr.
$PIG will be launched on the Solana community, which has turn into standard amongst builders due to its high speeds and low transaction prices. Some of the high Solana meme tokens are Bonk, Book of Meme, and Cat in a Dogs World.
Piggy Bankster additionally goals to disrupt the world of animal-themed tokens. This is an trade that began with canine (Shiba Inu and Dogecoin), cats (Popcat), frogs (Pepe), and chickens (Coq Inu).
History reveals that almost all animal-themed token pioneers are inclined to do nicely as they entice merchants’ consideration. Therefore, there’s a probability that the Piggy Bankster token will do nicely in its token sale and when it begins buying and selling.
Piggy Bankster can have a complete provide of 100 million and an preliminary liquidity of 12,000. The beginning worth of its presale will be $0.00012. You can be taught extra about the token on the Piggy Bankster website and observe the updates on X.
