The world of meme coins has been no stranger to skyrocketing and spectacular crashes. Remember Doge? Or the Shiba Inu craze? However, many go down as fast as a 24-hour tweet. This week, there is a new sheriff in town, with BEFE coin rising while PEPE coin and Bonk were once on fire. Now let’s discuss why it is happening and what this means for the future of meme coins.
What you'll learn 👉
BEFE Coin
BEFE coin which stands for “Before Everyone Else” in internet slang terms, has been on fire lately. In fact, just after one month of launching it has gone up by more than 1400% due to viral social media campaigns and community hype surrounding it.
As much as BEFE promises not to remain just another meme coin however that is exactly what makes it different from others of its kind. In its roadmap are an NFT marketplace, decentralized exchange (DEX) and even charity initiatives are on the cards.
It may be too early to call whether or not BEFE will deliver on these commitments but there is no doubt that they have started strongly.
Pepe Coin ($PEPE)
In recent weeks Pepe coin ($PEPE) based on a frog meme classic had enjoyed some decent performances but lapsed into stagnation instead. While Pepe The Frog – instantly recognisable all over the internet – holds such huge significance in internet history.
PEPE coin itself doesn’t seem to spark enough interest for sustained growth. Yet the PEPE coin project hasn’t laid out any clear development roadmaps or exciting use cases beyond being seen as a meme token only. These reasons combined with overall market slump became responsible for lost traction of Pepe coin ($PEPE).
Bonk ($BONK)
Solana-based dog bono favorite has also been tamed. Bonk’s ($BONK) price fell in recent times after initially riding on the wave of Solana’s popularity and the general meme coin mania. One potential suspect? Well, Bonk was built atop the Solana network which had some problems with scalability and transaction fees. These network issues can dampen investor confidence, and Bonk seems to be feeling the effects.
Conclusion
BEFE’s rise may mark an inflection point in meme coin meta while Pepe coin ($PEPE) and Bonk ($BONK) are floundering. It is no longer about investing into any cute mascot bearing memes. Investors are looking for utility, community strength as well as a clear path ahead of it all. BEFE appears to check those boxes at present, but remember this is crypto world where time flies by way too fast.
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