Morning Minute | Tik Tok Memes Take Over Memecoin Market

TylerD's Market Summary

📲 Tik Tok Takeover Hits Memes

If you spend all your time on X, it might be time to open up some other social apps like Tik Tok or Instagram.

Or at least find some savvy friends.

Because the memes going viral with normies across socials are hitting the memecoin streets in a big way.

What Happened?

The biggest memecoin mover of the day yesterday was a relatively new token CHILLGUY.

The token is based on a meme going viral across Tik Tok with a dog that recognizes himself as "just a chill guy."

For whatever reason, the market has loved this one and CT traders and normies alike are running this one up.

It soared 500% on the day to a $250M market cap.

The token is just 4 days old.

Anyone could have bought it for $6M just 2 days ago - a 40x in 2 days and an 80x in 3 days.

Just insanely rapid growth, and that's also tied to the rapidly increasing holder count.

CHILLGUY has amassed over 60,000 holders in that 4-day timespan, putting it on par with other meme leaders like GOAT ($1B mc) and PNUT ($1.6B).

Why It Matters

It seems we may finally be getting a taste of what the memecoin supercycle looks like when actual retail buyers get involved and not just CT traders throwing money back and forth.

The growth we have seen in CHILLGUY is unprecedented.

And more importantly, it seems the new trend for CHILLGUY is Tik Tokers sharing how to videos on trading memes referencing this one specifically.

So if CHILLGUY ends up being a big winner, expect a lot more attention to follow from retail.

Feels kind of like Feb 2021 Top Shot vibes.

We have already seen an explosion in other Tik Tok memes hit the market over the past few days, though none have really taken off - yet.

That's likely to change soon.

Find your social quant and get ready for the next meta to go into full swing - or stay sidelined.

🚚 What is happening in NFTs?

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

• Ethereum led NFT trading volume with $9.5M on the day; Bitcoin was next with $4.5M, and then Solana with $3.5M
• ETH NFT leaders were mostly green; Punks even at 36 ETH, Pudgy +4% at 12.2 ETH, BAYC +1% at 13.4, Milady -10% at 5.9
• DeepBlack (+100%) and Tubby Cats (+100%) led notable top movers
• BTC NFT leaders were very red; Bitcoin Puppets -12% at 0.15 BTC, NodeMonkes -3% at 0.13 BTC, OMB -2% at 0.139, Quantum Cats -1% at 0.191
• The Runes leaders were also very red; DOG -14% at $750M mc, PUPS -20% at $305M, BDC -11% at $137M, CYPHER -16% to $35M

💰 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 mixed with Bitcoin leading; BTC +2% at $93,700, ETH -1% at $3,100, SOL -4% at $237; ADA (+11%) and XLM (+8%) were top alt movers
• Memecoin majors are also mixed this AM; DOGE +1% at $0.388, SHIBA -4%, PEPE -2%, BONK +7%, WIF -5%, POPCAT -11%
• CHILLGUY and QAUNT combined for over $500M in volume leading Solana memes, running up 680% to $250M and 44x to $47M respectively
• IBIT saw nearly $2B in ETF option volume on its first day with Calls outweighing Puts 4.4:1
• Trump has chosen Howard Lutnick, a major Bitcoin advocate and Wall Street billionaire, as his Commerce Secretary—but not for the Treasury role he actively pursued
• Meanwhile there are 4 candidates for SEC Commissioner including several crypto friendly candidates
• Michael Saylor announced that he will talk to the Microsoft board about them buying BTC for their treasury
• Marathon Digital issued $850M in convertible debt to acquire Bitcoin
• Coinbase is delisting wBTC after creating its own cbBTC alternative
• Shaquille O'Neal agreed to an $11M settlement to compensate investors tied to his involvement in the Astrals NFT collection

🚀 Memecoin Movers 

• $QUANT (+55000% to $57M market cap, SOL)
• $blob (+14000% to $12M market cap, SOL)
• $WAIT (+24000% to $19M market cap, SOL)
• $HUZZ (+3000% to $14M market cap, SOL)
• $CHILLGUY (+540% to $270M market cap, SOL)

📈 NFT Floor Price Increase (ETH)

• Deep Black (115%, 0.9 ETH Floor)
• Tubby Cats (80%, 0.09 ETH floor)
• mpkoz (77%, 3 ETH)
• Banners (39%, 0.5 ETH)
• Heurist Imaginaries (35%, 2.2 ETH)

🗓 Upcoming Mints and Events

Today is a busy day of mints and events mostly focused in art and PFPs with no major highlights.

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

• Taproot Pepes (10:00 a.m. ET)
• Memes by 6529 (11:00 a.m. ET)
• perfectloop x Verse (1:00 p.m. ET)
• Trevor Paglen x Fellowship (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.