Morning Minute | Memecoins Soar as Bitcoin Hits New ATH

TylerD's Market Summary

🚀 Bitcoin Hits $82k and DOGE Rockets

This past week has showed us - the bull market is back.

The Trump election has seemingly freed crypto from its regulatory shackles and it looks like clear skies ahead.

And the market is showing its hand for what the shiny object for this bull cycle will be - memecoins.

What Happened?

Bitcoin hit ATH after ATH this past week, reaching $82,000 this morning and up 20% on the week.

You read that right - $82,000 for 1 Bitcoin.

ETH and SOL both followed suit, jumping about 30% each to $3,200 and $216 respectively (SOL at ATH in market cap but ETH still well below).

Altcoins moved up as well following the Bitcoin move:

• ADA +77% to $21B
• AVAX +35% to $13B
• SUI +70% to $9.1B
• KAS +44% to $3.9B
• AAVE +45% to $2.8B

So L1s and DeFi were big winners on the week as well.

But not as big of winners as the memecoin leaders.

Let's start with the majors and their weekly gains:

• DOGE +84% to $42.2B
• SHIBA +52% to $15.3B
• PEPE +51% to $5.2B
• WIF +49% to $3.08B
• BONK +45% to $2B

That DOGE move has shocked the market as it added $20B to its market cap in a week - basically the size of the entire Solana memecoin ecosystem.

SHIBA moved into the top 10 overall crypto coins in the move and PEPE hit top 25 (13 total in the top 100 now).

There were questions if it would be the old guard or new coins which won this cycle - looks like the answer is both.

But there were big winners downstream as well.

Some other top meme movers of the week:

• POPCAT +33% to $1.65B
• NEIRO +90% to $1.05B
• MEW +35% to $975M
• GOAT +70% to $844B
• FWOG +90% to $580M
• MOODENG +150% to $375M
• FARTCOIN +375% to $160M

Just massive moves (and those don't include the +400% and +1600% moves overnight from 2 surprise Binance listings covered below).

The Bitcoin Runes weren't left out of the fun in the run to $82,000. A few notable top movers:

• PUPS +53% to $286M
• BDC +39% to $124M
• GIZMO +88% to $40M

You get the point. It was a big week.

Why It Matters

There were many doubters along the way.

The memecoin supercycle was certainly not consensus and fudded by many in the Crypto Twitter community.

But it's looking more clear than ever - supercycle (real).

The question now becomes how to best play it.

The moves in the majors (DOGE, SHIBA, PEPE, WIF, etc) cannot be ignored. Simply holding those likely outperforms the majority of traders.

There are some shiny new rockets jumping up the list in the mid-tier though (GOAT, MOODENG, FWOG, FARTCOIN, PUPS , etc.).

And of course, many will look even further downstream into the trenches and the Pump Fun streets.

Personally, it seems like a combo of majors + strong mid-tiers in the $100M-$500M range is the best bet for ROI along with some sense of portfolio "safety", with a small percent set aside to chase the hot new runners of the week.

But there are many ways to play this in a bull market and everyone will look like geniuses in a true bull market.

Just don't miss the run waiting for a pull back...

🚚 What else is happening in NFTs?

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

• Ethereum led NFT trading volume with $6.8M on the day; Bitcoin was next with $5.3M, and then Solana with $2M
• ETH NFT leaders were mixed but closed a green week; Punks +2% at 26.5 ETH, Pudgy +1% at 9 ETH, BAYC even at 10.65, Milady -1% at 5.15, Azuki -1% at 4.75
• Band Bears (+23%) and Mocaverse (+20%) led notable top movers
• BTC NFT leaders were very green; NodeMonkes +19% at 0.143 BTC, Puppets 27% at 0.183 BTC, OMB even at 0.143, Quantum Cats +2% at 0.2; RSIC were a top mover +35% to 0.0073 BTC
• The Runes leaders were also green; DOG +3% at $440M mc, PUPS +7% at $286M, GIZMO +17% at $40M mc, BDC +11% at $123M
• Solana NFTs were mixed on the day; Mad Lads even at 32 SOL, SMB Gen 2 +4% to 14.4, DeGods +1.5% at 10.55
• Doodles teased a new Stoodio where users will be able to quest, craft, trade, chat, and earn rewards

💰 Token, Airdrop & Protocol Tracker

Here's a rundown of major token, protocol and airdrop news from the day:

🌎 Around Crypto and Web3

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

• Crypto majors are green led by SOL; BTC +2% at $82,100 (new ATH); ETH -1% at $3,200, SOL +5% at $217; CRO (+17%) and ONDO (+16%) were top alt movers on the day
• Memecoin majors are mega-green; DOGE +20%, SHIBA +11%, PEPE +3%, WIF +21%, POPCAT +14%, and MOG -5%
• Binance announced surprise spot listings for PNUT and ACT which soared 320% and 1600% respectively on the news
• Doge hit a new 3-year high at $0.29 and a $42B mc (highest since Oct 2021)
• Sui soared 70% on the week leading Alts
• Coinbase rolled out a "Get50" campaign giving users $50 in Bitcoin 
• HashKey Capital and Decrypt have launched Layer East Media, a collaborative network that unites Asia-Pacific’s leading Web3 publications to support Western projects in successfully navigating the region

🚀 Memecoin Movers 

• $CENTS (+15,000% to $41M market cap, SOL)
• $ACT (+1600% to $380M market cap, SOL)
• $PNUT (+330% to $450M market cap, SOL)
• $FRED (+200% to $16M market cap, SOL)
• $PIPPIN (+140% to $39M market cap, SOL)

📈 NFT Floor Price Increase (ETH)

• Tiny Astro (29%, 0.18 ETH Floor)
• Body Machine (75%, 0.75 ETH floor)
• Yayo (31%, 0.23 ETH)
• Topia (27%, 0.37 ETH)
• alignDRAW (25%, 1.38 ETH)

🗓 Upcoming Mints and Events

Today is a slower day of mints and events to start the week, mostly focused in art.

Jake Fried has an Outer Reaches phygital drop, Verse has 2 artists minting collections and then Jake Andrew is the meme card artist.

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

• Ordinal Degenz (9:00 a.m. ET)
• Memes by 6529 (11:00 a.m. ET)
• Jake Fried - Outer Reaches (12:00 p.m. ET)
• Petra Cortright & Zuka Kipiani x Verse (1:00 p.m. ET)

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.d.warner@gmail.com.