Web3 payment infrastructure provider, Transak, is adding 11 new Meme Coins. PNUT, WIF, FLOKI, BOME, NEIRO, GOAT, MEMEFI, MEME, MOODENG, POPCAT and BRETT are now available on their website.
This news was announced via an exclusive press release shared with TinTucBitcoin.
Transak Sees the Future of Meme Coin
Transak has a number of criteria for choosing the Meme Coin it wants to add. The company looked at objective data metrics such as trading volume and trust from centralized exchanges, as well as the ability to attract users to participate in Web3. However, according to Carlo de Luca Gabrielli, Global Director of Sales at Transak, the most important qualities are more subjective.
“Meme Coin thrives on community support. Therefore, Transak’s main criterion when selecting Meme Coins is ‘community persistence’. The logic is, if a cryptocurrency project has strong, almost passionate support from the community, it will eventually find adoption,” Gabrielli said.
Although Transak is not an exchange in the true sense, it has certainly been influenced by major exchanges in the recent listing of Meme Coin. Many such companies have joined the wave of high-profile listings, often boosting asset values significantly.
For example, last month, Binance’s listing caused DEGEN’s price to increase by 50%. Sui-based meme coin HIPPO had a similar surge in early November.
Major centralized exchanges have been actively listing new and low-cap Meme Coins over the past few months. It seems like these platforms are conscious of not wanting to miss out on Meme Coin’s massive price increase. The previous bull cycle of Solana-based Meme Coins in Q1 2024 was largely in favor of decentralized exchanges.
Historically, platforms like Binance have been slow and cautious in listing Meme Coin, but this seems to have changed. Most recently, Binance listed the Pudgy Penguins PENGU Token on launch day, which saw a large-scale sell-off from airdrop holders.
Coinbase has also adopted similar methods recently, albeit less aggressively. The exchange’s listing has sparked modest price increases for several different Meme Coins, but the company is also innovating. For example, they launched perpetual futures for TURBO in October.
Some analysts in the community still predict a bearish trend emerging in this space. However, Transak seems committed to its Meme Coin strategy. For Gabrielli, this is a popular new trend and a valuable way to generate new excitement for Web3.
“At Transak, we support the positive impact of the cultural phenomenon Meme Coins and understand their importance as an entry point into Web3 for many. By listing 11 new Meme Coins, we hope to give users the opportunity to participate in a crypto cultural journey that could pave the way for widespread adoption of this revolutionary technology,” he concluded. essay.
Meanwhile, the Meme Coin market has witnessed heavy liquidation over the past week. Currently, the market is down 12%, with leading tokens such as DOGE and SHIB falling more than 20% in the past week, according to data from CoinGecko.