Morning Minute | Crypto Majors Rebound, Memes Rally Harder

Morning Minute | Crypto Majors Rebound, Memes Rally Harder

TylerD's Market Summary

๐Ÿ“ˆ The Memes Aren't Dead Yet

Many victory lapped the "death of memecoins" during the last few weeks of big draw downs.

Leaders like WIF fell nearly 70% from ATH during the past weeks and months, and things were looking dire.

But calls for their death seem to be premature.

What Happened?

Crypto alts and memes showed a major rebound overnight after Bitcoin dominance fell majorly.

Solana led the rally, jumping 9%.

And its memes absolutely cooked on the day.

Notable winners on the day:

  • PEPE +13% to $4.97B (ETH)
  • WIF +23% to $1.91B
  • MOG +39% to $520M (ETH)
  • POPCAT +71% to $426M
  • MICHI +61% to $78M
  • MOTHER +28% to $71M
  • BILLY +38% to $63M

PoliFi was hot as well.

Daily gains from the PoliFi majors:

  • TRUMP +25% to $405M
  • MAGA +15% to $125M
  • boden +40% to $97M
  • tremp +20% to $67M

It was a very green day.

Why It Matters

This new memecoin sector of crypto is still in relatively early stages, and many expect it to fail.

Strong rebounds in the meme majors show resilience and inspire confidence in the rest of this sector.

And with new pump dot fun competitors now being launched (see Moonshot from Dexscreener), it doesn't appear we will be seeing a shortage of new options to choose from.

The question that stems from the pump dot fun craze is - can any majors make it in this new paradigm (1M tokens launched in the past 3-4 months) or will liquidity be too sparse to support them all.

We are seeign early signs that the "majors" will be just fine.

Oh, and as for PoliFi - the first U.S. Presidential debate is coming this Thursday at 9 pm ET.

So expect some major action in that sector in the days to come.

The memes are still very much alive, despite reports of their death.

๐Ÿšš What else is happening in NFTs?

Here is the list of other notable headlines from the day in NFTs:

  • ETH led NFT trading volume with $5.3M (+25%) on the day; Polygon was next with $4.1M and then BTC & SOL with $2.4M & $1.7M 
  • ETH NFT leaders were mixed; BAYC -1% to 8.9 ETH, Pudgy -2% to 8.76 ETH, Milady +1% to 5.4, MAYC +1% to 1.47
  • CryptoPunks saw a whopping 250 ETH sale on a Hoodie Punk (floor held at 26.6 ETH)
  • Checks and Valhalla were top movers on the day, jumping 30-40% each
  • BTC NFT leaders saw a slight rebound; NodeMonkes +1% at 0.16 BTC, Puppets +5% at 0.105 BTC, OMB -9% at 0.178 and Quantum Cats +2% at 0.244
  • Magic Eden introduced Mempool Protection to help avoid sniping on Ordinals during the buy process
  • The Runes leaders were very green with DOG +12% at $580M mc, RSIC +7% at $115M, and BILLION +54% at $50M
  • Solana NFTs chopped on the day; Mad Lads even at 66 SOL, SMB Gen 2 even at 26, DeGods even at 21
  • Truth unveiled its "Portals", allowing its community (and other NFT collections) to bridge NFTs to other chains like Arbitrum, Base, or Blast
  • Dr Disrespect was terminated from Midnight Society, leading to their Founder Passes falling 75% to 0.03 ETH on secondary
  • The VanEck US account is now repping a Pudgy Penguin as its PFP on X
  • Registration for Art Blocks Marfa weekend is now open, taking place Nov 14-17

๐Ÿ’ฐ Token, Airdrop & Protocol Tracker

Here's a rundown of major token or airdrop news from the day:

  • Blast introduced the Blast Foundation, created to help achieve the "Blast Vision" and managed until now by Blast development company Arcade Research; wmore details coming June 26
  • Pacmoon has partnered with Mocaverse for “PACMOCAVERSE” where creators can earn both $MOCA and $PAC simply by creating content about the new
  • Wasabi distributed its last round of Blast Gold pre-TGE including a bonus for Blastin Pepes and bPEPE holders
  • NFTfi's airdrop for Earn Season 3 went live for claiming yesterday, and eligible users have 42 days to claim
  • Rabby announced its Season 2 Points claim will end on June 30

๐ŸŒŽ Around Crypto and Web3

A few other Crypto and Web3 headlines that caught my eye:

  • Crypto majors are green this morning as Solana leads; BTC +0.5% at $61,320; ETH +2% at $3,380, SOL +9% at $138
  • Memecoin majors are very green with DOGE +5%, PEPE +12%, WIF +23%, BONK +18%
  • MOG ripped 35% overnight to $520M mc and nearing a new ATH
  • Jupiter launched Jupiter Swap V3 featuring instant routing, dynamic slippage, smart token search, and more
  • Donald Trump is in talks to attend and speak at Bitcoin Nashville coming this July, according to Axios
  • Binance Labs announced an investment in Infrared, a protocol tied Berachain's Proof-of-Liquidity.

๐Ÿš€ Memecoin Movers 

  • $POPCAT (+71%, $420M market cap, SOL)
  • $MICHI (+60%, $78M market cap, SOL) 
  • $boden (+40%, $97M market cap, SOL)
  • $MOG (+38%, $520M market cap, ETH)
  • $MOTHER (+28%, $71M market cap, Solana)

๐Ÿ“ˆ NFT Floor Price Increase (ETH)

  • Grapes (67%, 0.09 ETH Floor)
  • Checks Originals (43%, 0.15 ETH)
  • Farmers (33%, 0.05 ETH)
  • Valhalla (31%, 0.09 ETH)
  • Genuine Undead (20%, 0.05 ETH)

๐Ÿ—“ Upcoming NFT Mints and Reveals

Today is a busier day of mints, spanning PFPs, art and memecoin announcements.

The highlight today is likely the TURBO partnership announcement. With TURBO sitting over $400M mc, whatever news comes today is likely going to send the token strongly - in 1 direction or another.

See the full list and dive in for more details with Swizzy's daily mint monitor

  • Blast Cats (6:00 a.m. ET)
  • OrdiNoLs (11:00 a.m. ET)
  • ChrisCoCreated x Prohibition - Onchain Summer (12:00 p.m. ET)
  • Mickalene Thomas x Avant Arte (1:00 p.m. ET)
  • TURBO partnership announcement (TBD)

Enjoy this write-up and/or want to sponsor the Morning Minute? Follow along with me on Twitter @tyler_did_it or reach out via email to tyler.warner@luckytrader.com.

Disclaimer: The author or members of the Lucky Trader staff may own NFTs discussed in this post. Furthermore, the information contained on this website or the Lucky Trader mobile application is not intended as, and shall not be understood or construed as financial advice. AI may have assisted in the creation of this content.