The Boy’s Club, Base meme coins rally after crypto crash as Donald Trump Jr. announces new project
- 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
Author
Ekta Mourya
FXStreet
Ekta Mourya has extensive experience in fundamental and on-chain analysis, particularly focused on impact of macroeconomics and central bank policies on cryptocurrencies.
