The crypto market is abuzz with talk of SPX6900, MAGA Hat, and NEIRO this week, but there are new meme coins and unlisted cryptos ready to steal the spotlight. This article will review the latest trends in the meme coin market and delve into the growing hype behind one of the most promising unlisted crypto tokens.
Are we in a memecoin supercycle?
Murad Mahmudov shared some interesting opinions at Token 2049
Stating that cults are stronger than tech
Memes have outperformed 99% of alts this cycle, backing his point
He also dropped a list of top memecoins he's bullish on, many of which… pic.twitter.com/oqYxUx3Avc
— Quan (@quan_eth) October 13, 2024
Currently, meme coins are among the top profit generators in the crypto space, with investors moving their capital from one coin to another in pursuit of the next big profit opportunity.
SPX6900: On the verge of a $1 billion market capitalization
One of the meme coins that has surged in the market during Uptober is SPX6900, currently trading at $0.874 (with a 24-hour change of +0.8%).
After more than 19 consecutive days of growth, SPX6900 has skyrocketed to an impressive market capitalization of $804 million, supported by a strong technical structure above the 20DMA and all-time highs in the S&P500 (SPX).
However, some concerns remain regarding the position sizes of certain whales, as highlighted by crypto analyst ZachXBT.
1/2 I uncovered 11 high confidence wallets tied to @MustStopMurad holding ~$24M in meme coins on Ethereum and Solana so the community can monitor his future activity. pic.twitter.com/OTx6XMguTA
— ZachXBT (@zachxbt) October 9, 2024
MAGA Hat: Preparing for the U.S. election
Election fever is sweeping across the United States, and meme coin traders are taking key positions, with the now-famous MAGA Hat token leading the movement.
Currently, MAGA is trading at $0.0001626 (with a 24-hour change of +5.54%), and it’s forming a bullish pennant pattern on higher time frames ahead of the critical Presidential Election.
However, with 20DMA resistance hindering short-term movement, all eyes are on the 50:50 split between sell and buy activity over the past 6 hours for clearer signals.
Now, with a market capitalization of $65 million, MAGA Hat remains one of the few ‘PolitiFi’ coins that have survived earlier narratives this year—and many are hopeful the token could rise up to 5X as the decisive day in November approaches.
In related news, World Liberty Financial, which is affiliated with Donald Trump, will launch its token for presale tomorrow, so stay tuned for updates.
NEIRO: The next DOGE continues its climb to the top
Once there were many, now there’s just one—meme coin traders are now focused on NEIRO, which has set itself apart as a market leader, with its market capitalization now reaching $855 million.
Supported by strong upward momentum from the 20DMA, NEIRO is currently trading at $0.00204 (with a 24-hour change of +0.94%).
Amid this rising price movement, NEIRO has surged 70% in the last 7 days, defying market expectations of a drop with a tempting 54% buying pressure in the past 24 hours.
Now, with less than $200 million left to reach the milestone of becoming the first NEIRO to hit $1 billion, it seems the entire NEIRO market is set to explode—potentially triggering a massive capital shift into this leading meme coin.
