Are Dogecoin and Shiba Inu Dead? Almost, But Copium and Pepe Kindle A New Wave of Meme Coin Explosion
Yes, Dogecoin and Shiba Inu have market caps in billions. But that doesn’t translate to anything lucrative for new investors. The right time to invest in these meme coins was two years ago. They are long past their prime.
Investors are starting to realize this cold hard truth, as the new wave of meme coin mania proves. It is kindled by radically unique tokens like Pepe, Copium, Ben, Sponge, and Milady Meme Coin to name a few.
New Meme Coins in the Town
Long gone are the days when meme coin investors had to glue their eyes to Elon Musk’s Twitter page in the hope of a Dogecoin nod. That was their only solace to reclaim the steep losses made in 2022. While the first few bull runs of this year gave hope, established meme coins continue to disappoint investors with lukewarm performance as we enter the third quarter.
So, they are left with no choice but to look for alternatives. And that explains the explosive meme coin action that has been raging in the market over the last two to three weeks. It began with Pepe, which went on to accumulate a $1.6B market cap within days of its low-key launch. Although the momentum died in the next few days, Pepe has more steam left.
Pepe’s thunder was stolen by new meme coins, many of which followed its lethargic format. More “useless, entertainment-only” meme coins have graced the market this month. Interestingly, they have also incited strong bullish movements. SpongeBob Token and Milady Meme Coin are two good examples. They have won a large crypto community, despite their lack of utility or purpose.
And the latest meme coin to seize the market’s attention is Copium, which went live on 18 May 2023 to a grand reception. It plans on staying in the game for the long term, and that sets it apart from the rest of the market.
1000% Up the Charts in 30 Minutes
Within minutes of going live, Copium has been breaking records. At the time of writing, it has a $12.37M market cap and 1.39K holders. The 24-h volume has crossed $26.01M according to Dextools, although it has been less than a few hours since its launch. The momentum is gaining by the minute, fueling the next big meme coin explosion.
Influencer investors Can Take Copium to the Top 3 Meme Coin Chart
Copium is a cryptocurrency driven by humour, FOMO, and camaraderie. One of the major catalysts of its ongoing bull run is its unique marketing strategy.
To begin with, the Uniswap launch of the token was preceded by a much-hyped invitation-only presale, largely limited to top crypto influencers. The presale was a strategic step to bring influential members aboard as fervent ambassadors of the project. Since they have skin in the game, they are a part of the project’s promotion and community-building activities.
The 200 investors were allowed a maximum stake of 1 ETH worth of $COPIUM each. The measure helped lay a fair playing field and prevent whale dumps commonly seen in the meme coin market. In addition, it reinforces shared accountability for the project’s success.
No Room for Dumps
Another measure that goes a long way in preventing a token dump for Copium is the strategically-designed vesting schedule. While 10% of the presale investment is unlocked immediately on the token launch, 90% of tokens will be unlocked linearly over 3 weeks.
As a result, Copium is not likely to become another fleeting sensation like Pepe or the countless meme coins that faded into obscurity. If the team and community manage to maintain the hype, it has the potential to enter the top-3 meme coin chart of established meme coins in June.
According to top crypto traders, Copium will lead the meme coin mania in the second half of May.