NiftyNoon: Is the Memecoin Hype Cycle Ending?

With crypto majors and memecoins experiencing major pullbacks, veterans in the space have begun debating whether the memecoin hype cycle is finally ending (August 2, 2024)

Highlighted News:

• Cirrus notes subsequent memecoin launches are getting smaller in market cap, suggesting the memecoin market has topped:

  

  https://x.com/cirrusnft/status/1818288295027315104?s=46

• Murad predicts a wave of retail capital will flow directly into top memecoins:

  

  https://x.com/muststopmurad/status/1819138160376312181?s=46

• @makenowmeme has been suspended after enabling anyone to launch solana memecoins directly from a post on @x:

  

  https://x.com/degeneratenews/status/1819109855963074956?s=46

• The euro is now on Base:

  

  https://x.com/base/status/1819014108387381524?s=46

• Large Azuki holder announces his exit from the collection:

  

  https://x.com/metaknight_sf/status/1819027322764505105?s=46

Project and Community News:

• Over $300M Crypto Liquidations in Past 24Hrs: https://x.com/degeneratenews/status/1819052613444469163?s=46

• While Bitcoin is dumping, BlackRock continues to buy more BTC: https://x.com/BitcoinMagazine/status/1819060377159606683

• Coinbase $COIN Q2 2024 results: https://x.com/jevgenijs/status/1819103911506022486

• The $JUP claim window has finally closed, with 780 million tokens claimed by 639 thousand eligible users: https://x.com/fknmarqu/status/1818677922338615478?s=46

• Announcing the Onchain Summer Buildathon Winners: https://x.com/base/status/1819146667184291918?s=46

• ICYMI during today’s livestream at BaseCamp, Basenames are now in early access: https://x.com/base/status/1819123635820671315?s=46

• @JupiterExchange Supply Reduction Proposal is live: https://x.com/jupiterexchange/status/1819029624510357786?s=46

• New $wUSDM vault on @MorphoLabs on @Base: https://x.com/mountainusdm/status/1818290958473294143?s=46

• Puffles Celebrates the launch of APECHAIN Testnet Curtis & the @pufflesio NFT Launchpad Tool: https://x.com/apecoin/status/1819131470402969994?s=46

• Project Dragon Event 1: 2 teams: https://x.com/OthersideMeta/status/1819071193603101132

• Introducing Rekt Rewards: https://x.com/rektdrinks/status/1819060055121268926

• Introducing MBA Sessions, an educational series kicking off a week from today: https://x.com/BoredApeYC/status/1819050858564419586

• "What is a Chromie Squiggle?": https://x.com/squiggleDAO/status/1819040648927793277

• Introducing Cosmic Bomber, your new go-to for a fun and casual adventure: https://x.com/Cosmic_Bomber/status/1818798868479500514

• $SAND is bridging to multiple blockchains, paving the way for a more interconnected Web3 future: https://x.com/thesandboxgame/status/1819013894259540416?s=46

• NEIRO's strength is becoming too big to ignore: https://x.com/Tyler_Did_It/status/1819090937051861039

• STFX x @decentxyz: https://x.com/stfx_io/status/1819079940677292199?s=46

• $RAREClaim Day Live Now: https://x.com/SuperRare/status/1819057040506974595

• Happy 9th birthday Ethereum: https://x.com/ljxie/status/1818359743255376253?s=46

Quick Stats:

• 👾 Blur ETH Daily Volume: 1,043 ETH (▼ 28.25%)

• 🌊 OpenSea ETH Daily Volume: 252 ETH (▼ 12.73%)

• 🟠 BTC : $64,696.75 (▲ 0.13%)

• 🔷 ETH: $3,152.87 (▼ 1.14%)

• 🟣 Solana: $164.15 (▼ 3.19%)

• 🟪 Polygon: $0.48 (▼ 2.69%)

Top NFT Sales:

• CryptoPunks #2601: 36.00 ETH

• CryptoPunks #5034: 35.75 ETH

• CryptoPunks #4253: 26.00 ETH

NFT Daily Winners:

• 🧦 Bitcoin Puppets: 0.08 BTC (▲ 7.29%)

• ⛩ Azuki: 3.88 ETH (▲ 4.02%)

• 🐱 Quantum Cats: 0.26 BTC (▲ 2.33%)

• 🏳‍🌈 Chromie Squiggles: 3.69 ETH (► 0.00%)

• 🍭 Mocaverse: 1.68 ETH (► 0.00%)

NFT Daily Losers:

• 👾 Tensorians: 9.70 SOL (▼ 0.51%)

• 🦧 Bored Ape Yacht Club: 9.59 ETH (▼ 0.52%)

• 🐧 Pudgy Penguins: 9.40 ETH (▼ 1.20%)

• 💼 Ordinal Maxi Biz: 0.17 BTC (▼ 1.56%)

• 🚬 CryptoPunks: 24.27 ETH (▼ 1.68%)

• 👩🏻 Milady Maker: 4.87 ETH (▼ 3.27%)

• 🐵 NodeMonkes: 0.12 BTC (▼ 4.15%)

• 😡 Mad Lads: 53.65 SOL (▼ 4.20%)

• 🏴‍☠ Captainz: 2.07 ETH (▼ 5.49%)

Notes:

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