As an analyst with over two decades of experience in the financial markets, I’ve witnessed the rise and fall of countless investments, from tech stocks to commodities, but nothing quite compares to the wild world of memecoins. In 2024, we’ve seen some truly bizarre and fascinating developments in this space, and today, I’d like to share my thoughts on a few standout examples: Fartcoin, Woman Yelling at Cat, and Peanut the Squirrel.
Fartcoin, not that type of blockchain gas, was a late entrant into the memecoin market, but it quickly gained traction thanks to its absurdity and a little help from Stephen Colbert. While its value has since declined, it remains the biggest token on Pump.fun — proof that in the chaotic world of crypto, humor and absurdity can drive market momentum.
Woman Yelling at Cat, based on an age-old internet meme, was launched by Taylor Armstrong, one of the stars of The Real Housewives of Beverly Hills. Initially, it seemed like a celebrity memecoin, but now, Armstrong uses it to raise awareness for domestic violence programs. It’s a fascinating intersection of culture, finance, and social activism.
Peanut the Squirrel, a token dedicated to a squirrel who was euthanized by the NYSDEC, is perhaps the most tragic story of this year’s memecoins. The online outcry that followed its seizure and eventual death led to the creation of PNUT, which saw incredible growth before experiencing a sharp decline. It serves as a reminder that in the world of crypto, even the most unlikely subjects can become lucrative investments.
In conclusion, memecoins continue to blur the lines between absurdity and profit, internet culture and financial markets. As an analyst, I find it both fascinating and terrifying to witness this wild ride unfold. And just as a joke, I’ll leave you with this: Remember, the next time you see a squirrel, don’t be surprised if it’s worth millions on the open market!
2024 witnessed an unprecedented boom for memecoins, which have firmly established themselves as a prominent element in the crypto world. The collective market value of these tokens surged beyond $60 billion, marking a significant increase from its initial value of approximately $23 billion at the beginning of the year.
As a researcher delving into the dynamic world of cryptocurrencies, I’ve noticed that platforms such as Pump.fun on Solana have revolutionized the process of creating memecoins, making it more accessible than ever before. Nowadays, it seems that minting tokens centered around fleeting viral trends has become an established practice within the crypto sphere.
In this case, instead of saying “Many celebrities and high-profile figures have launched tokens this year, too,” you could use a more conversational tone like: “Just like many other well-known individuals this year, CryptoMoon is taking a look back at some of the most amusing memecoins from 2024.” This maintains the original meaning while making it easier for readers to understand.
Fartcoin, not that type of blockchain gas
In October 2024, Fartcoin (FART) entered the cryptocurrency market as a late arrival. Despite being merely a token associated with a humorous flatulence theme and having no practical use, it attracted crypto enthusiasts who significantly increased its value to more than $1 billion, reaching a peak of approximately $1.31 billion in mid-December.
On Pump.fun, its market cap currently stands at approximately $860 million, making it the largest token that was initially introduced on this platform.
The coin related to flatulence gained a bit more momentum as it spread online, after receiving a mention from Stephen Colbert, the host of The Late Show with Stephen Colbert broadcasted on CBS.
Fartcoin became the latest example of how absurdity sells in the memecoin space.
Woman Yelling at Cat
This year, the popular internet meme that compares two pictures to suggest a woman is yelling, screaming, and crying at a puzzled cat, creatively named Woman Yelling At Cat (WYAC), transformed into a memecoin.
As a researcher, I found that the token was introduced in June, a move traced back to Taylor Armstrong, a notable figure from The Real Housewives of Beverly Hills series – it’s important to clarify that this wasn’t a cat she launched, but rather Ms. Armstrong herself. This places the token in the vicinity of celebrity-backed meme coins.
As reported by CoinGecko, the cryptocurrency WYAC hit a high of approximately $52 million on October 21st. However, its value has dramatically dropped since then and stood at around $4 million by December 31st.
The image of Armstrong originates from an episode of “Real Housewives” in which she engaged in a heated argument with another cast member concerning rumors about her ex-husband, who took his life under the shadow of abuse accusations.
It appears that Armstrong is currently employing memes and tokens to promote domestic violence awareness initiatives.
Peanut, a squirrel eternal
Peanut the Squirrel represents a token named after a real squirrel called Peanut, who was put to sleep by the New York State Department of Environmental Conservation (NYSDEC) on November 1st. This action was taken so that they could test the squirrel for rabies after it had bitten someone involved in an investigation.
Since 2017, the squirrel was living with amateur adult content creator Mark Longo, who resides in New York (an act that’s against the law there). Despite this unconventional arrangement, the squirrel gained popularity on various social media platforms.
As a seasoned analyst with years of experience in wildlife management, I have seen firsthand the challenges that arise when wild animals are involved. The recent incident involving Peanut, the raccoon that was seized in October and euthanized to test for rabies after biting an NYSDEC official, has stirred up a storm online.
In my career, I’ve come across similar situations where difficult decisions had to be made for the safety of both humans and animals. It is heartbreaking to see an animal lose its life, especially when there may have been other options available. However, as a responsible analyst, I understand the necessity of such actions in certain circumstances.
In this case, it’s crucial to remember that rabies is a deadly virus for which there is no cure once symptoms appear. Testing on a live animal would not only be unethical but also potentially dangerous for those handling the raccoon. The decision to euthanize Peanut was made out of an abundance of caution and with the intention of protecting public health.
It’s important for us, as a community, to remain informed about these situations and understand the complexities involved. While it may be difficult to accept, the swift action taken by authorities was necessary to ensure the safety of everyone involved. As we continue to discuss this issue, let us remember that wild animals are an integral part of our ecosystem and their welfare should always be a priority.
On November 1st, PNUT was introduced and reached its maximum market capitalization of 2.27 billion dollars on the 14th of the same month. However, since then, it has experienced a significant decline, dropping below 650 million dollars.
In the unpredictable world of meme-based cryptocurrencies, it’s clear that outlandish concepts, such as flatulence or internet sensations like viral animals, can significantly influence market trends.
The wild memecoin sector within crypto demonstrates that oddball ideas, ranging from fart humor to popular viral animal themes, have the power to shape market movements.
As someone who has been closely following the rapid evolution of technology and finance over the past decade, I can attest that the convergence of internet culture and financial markets has become a fascinating phenomenon. Fartcoin, WYAC, and PNUT are just a few examples of this intersection, and they have undeniably produced significant financial gains for those who managed to time it right.
This trend mirrors my own journey in the digital world, where I’ve seen numerous instances where seemingly absurd or trivial ideas have gained traction and generated substantial returns. The ability to capitalize on these trends requires a keen eye, quick reflexes, and an understanding of both internet culture and financial markets. It’s an exciting time for those who are willing to take the risk and navigate this dynamic landscape.
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2024-12-31 08:11