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🥁 Is Memecoin Season Already Over?

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The BEN Team
May 08, 2023

Read time: 2 minutes | Total savings in this newsletter: $1,329.15

GM Cryptonians! Welcome to today's issue of BEN Beats 🥁

Here's what we got:

  • Top Story 🎤 - Is Memecoin Season Already Over?

  • Trending News 🗞️

  • Promo Codes for Upcoming Events 💫

  • Featured Remote Jobs 💼

  • Resources to Level Up Your Knowledge 🧠

  • Co-Founder Connect 🤝

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Top Story 🎤

Is Memecoin Season Already Over?

$PEPE, the famous froggy coin we covered two weeks ago, has more than 10x'ed since then to a peak of $0.00000420 thanks in part to a Binance listing, before crashing back down to $0.00000287 as of yesterday.

The number of on-chain $PEPE transactions has surged, and with it came a surge in Ethereum gas prices, jumping above $15.82 for a single transaction last Thursday.

And, on top of that, multiple new tokens have come out trying to ride the meme hype, such as SPONGE, TURBO, BOB, and TRBNR.

So what's the problem? Well, there's still the matter of low on-chain liquidity. And the lack of utility. Meme tokens are fun but what do you do with them? Buy and hold until you sell them to someone else at a higher price? Doesn't seem very sustainable.

Two days ago was a major pullback, with these memecoins losing 50% in a day. It's all fun and games until things start going the opposite direction. However you decide to approach memecoin season, know the risks and be ok with whatever outcome happens.

Trending News 🗞️

  1. Google might not win the AI race, according to this leaked document.

  2. A Blackpool Gang discovers a glitch on an Australian crypto exchange and starts racking up as much as AU$3.3 million per night.

  3. A Bitcoin developer was playing around with the Ordinals inscription system and accidentally crashed the Ordinals explorer.

  4. The fourth biggest newspaper in Britain is giving away NFTs for King Charles' coronation.

  5. FTX is trying to get back almost 4 billlion in this bankruptcy case that's still going on.

  6. Coinbase just launched an International Exchange focused on futures settled in USDC with up to 5x leverage for the big players.

  7. A coin called Yoda totally tanked and lost people over $129K.

Meme Break 🐸

Promo Codes for Upcoming Events 💫

Featured Remote Jobs 💼

Resources to Level Up Your Knowledge 🧠

🦄 Unicorner sends the best early-stage startups straight to your inbox. Every Monday morning, you'll get a 2-minute rundown on a promising company with the potential to be a future unicorn. Learn about the next Netflix, Uber, or Airbnb before they're the next Netflix, Uber, or Airbnb. Check it out here.

Other great resources:

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Disclaimer: This newsletter is purely educational and is not intended to be financial advice. Please don't take it as such. This is not an invitation to buy or sell digital assets, nor does it suggest how you should make financial decisions. Always do your own research.

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