Meme coin mania sees over 138 tokens launched in April

Bitcoin, web3, Ethereum, and cryptocurrency Overview:

  • Meme coins continue to dominate the crypto market, with over 138 new memecoins launched under the ERC-20 standard last month.
  • Launching a meme coin has become easier thanks to advanced blockchain solutions and tools.
  • New token standards and optimized on-chain transactions have redirected liquidity from Ethereum to competitors like Solana.
  • Solana has emerged as the current meme token hub, dominating the space since last year.
  • The memecoin market is now oversaturated, posing challenges for traders in terms of finding rewards.

Meme coin speculation boosted by advanced tooling

The launch of meme coins has become more accessible due to advancements in blockchain solutions and tools, making it easier for creators to enter the market. Developers now have access to new token standards like Runes protocol on Bitcoin and inscription types like SRC-20, DRC-20, and ASC-20 on EVM chains. This has also shifted liquidity from Ethereum to competitors like Solana.

Meme coin oversaturation fears

Despite the increased accessibility of meme coins, the market is now oversaturated, making it challenging for traders to find profitable opportunities. Many tokens are expected to depreciate in value, creating difficulties for investors in search of rewards.

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