- Crypto market bounced from its crash earlier this week, with The Boy’s Club coins and Base meme coins rallying nearly 25% in the last 24 hours.
- Brett, Toshi, Degen, Pepe, PepeCoin are the top five performers across the two categories.
- Donald Trump Jr. says he has plans to launch a decentralized crypto platform, respects meme coins.
- Dogecoin, Shiba Inu, Pepe, Dogwifhat extend gains on Friday, erasing recent losses.
Bitcoin and Ethereum struggle under key resistance on Friday. Meanwhile, meme coins on Layer 2 chain Base and The Boy’s Club coins, like Pepe and PepeCoin, observe gains. Base-based meme coins and The Boy’s Club coins stand out from others in crypto as the sector yields nearly 25% gains in the last 24 hours.
The Boy’s Club is a comic by Matt Furie that portrays different characters like Pepe. Meme coins inspired by these illustrations belong to the category.
CoinGecko data shows double-digit rallies in most meme coins on Base and The Boy’s Club on Friday.
Top five meme coin picks
Brett (BRETT), Toshi (TOSHI), Degen Base (DEGEN), Pepe (PEPE), and PepeCoin (PEPECOIN) have posted double-digit gains in the last 24 hours, per CoinGecko data. The meme coin narrative returned after Donald Trump Jr.’s recent comments on the sector.
Donald Trump Jr. unveiled plans to launch a new decentralized finance (DeFi) cryptocurrency platform to boost access to banking. The entrepreneur spoke about the project in a Q&A session.
Don Jr. Discusses Today's RTR Debacle on Locals Q&A pic.twitter.com/cd7pVBJAjx
— db (@tier10k) August 8, 2024
Trump said that he respects meme coins and teased a large-scale decentralized project that would take on the sector. The category extends gains on Friday after a weeklong correction following the crypto market crash on Monday.
Base-based meme coins
The Boy’s Club coins
While meme coins lead the recovery in crypto, with 24-hour trade volumes returning to pre-crash levels, Murad, a meme coin analyst behind the handle of @MustStopMurad on X, warned traders of the next phase of the meme coin supercycle.
As assets in the category extend their gains and capture a larger share of the market, Murad argues that more investors, whales, and funds are likely to start launching their own meme coins and work with X- based influencers to hype their token launches.
In the coming months, as the Memecoin Supercycle becomes more obvious, more VCs, Whales & Funds (especially those with less rigid mandates) are going to start launching their own "Memecoins".
— Murad (@MustStopMurad) August 8, 2024
And they will work together with many Twitter KOLs to hype these launches. Be careful.
Dogecoin, Shiba Inu, Pepe, Dogwifhat comeback from correction
Dogecoin (DOGE), Shiba Inu (SHIB), Pepe (PEPE), and Dogwifhat (WIF), considered the blue-chip memes among the rest in the category, started their recovery in the last 24 hours. After nearly double-digit declines this week, the meme coins have noted a surge in trade volume and on-chain activity.
Meme coins begin recovery
Key developments in the sector include:
- Dogecoin Core 1.14.8 release with important bug fixes to the networking code. All users were recommended to upgrade to the new version.
New #Dogecoin update!
— Doge Whisperer (@TDogewhisperer) August 8, 2024
Dogecoin Core 1.14.8 has been released
This is a new minor version release including important bugfixes to networking code.All core users, on all platforms, are strongly recommended to upgrade.
Special thanks to all the Devs who helped with the update.
A… pic.twitter.com/Co4HeNgRmK
- ShibariumNet officially confirmed automated SHIB token burn will be implemented in the next hard fork.
We're launching a Hard Fork with the new Bor version! ️
— Shibarium Network (@ShibariumNet) August 8, 2024
On August 9, 2024, at 9:15 AM UTC, we're launching Bor version v1.1.2-bone. This version introduces a burn mechanism to enhance our ecosystem.
Get ready for the #BURN!
- Analyst notes that top meme coins SHIB, DOGE, WIF, and PEPE outperformed Layer 1 tokens by nearly 40 times the gains in 2024.
Top meme coins like $SHIB, $DOGE, $WIF, $PEPE, etc, outperformed the most popular L1s by a factor of 38x since Jan 1st.
— CryptoPotato Official (@Crypto_Potato) August 7, 2024
If that's not making this cycle's narrative obvious, then... well... pic.twitter.com/6Pj8nL0rrD
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Kamala Harris could be turning pro-crypto following White House meeting with crypto leaders
Representatives of the crypto industry met with White House officials virtually on Thursday to discuss the future of crypto policies as Democrats seek to win the crypto industry's support for the Kamala Harris campaign.
Ethereum bulls defend key support level as technical indicators indicate bullish reversal
Ethereum (ETH) is up nearly 10% on Thursday as buyers accumulate the selling pressure from capitulated whales and Jump Crypto. Meanwhile, ETH technical indicators suggest that ETH has seen a bottom and is staging a bullish reversal.
Ripple could cross the line and violate securities law says judge, slaps firm with $125 million fine
Ripple (XRP) led gains among top 10 cryptocurrencies on Thursday after a historic court ruling in the Securities & Exchange Commission (SEC) lawsuit. Judge Analisa Torres considered the likelihood of the payment remittance firm violating federal securities law in the future and hit Ripple with a $125 million penalty.
PolitiFi tokens based on presidential candidates rally as “fake” Trump token declines over 90%
Political meme coins based on presidential candidates Donald Trump and Kamala Harris rallied on Thursday as Polymarket data shows heavy competition among supporters. Meanwhile, a recently launched token, RTR, themed after Donald Trump, drew the attention of crypto community members after declining over 90%.
Bitcoin: Can BTC rebound from the recent market challenge?
Bitcoin’s (BTC) price failed to close above $70,000 at the beginning of the week and dropped to $64,000 by Friday. Mt. Gox continues moving Bitcoin to exchanges for repayments to creditors while the Federal Open Market Committee (FOMC) decided to hold US interest rates steady.