Sead Fadilpašić

Last updated:

June 3, 2024 10:31 EDT | 4 min read

Get your weekly, bite-sized digest of meme coin news.

This week read about:

• Meme Coin News: Market Highlights
• Milady Meme Coin Gets $5 Million from DWF Labs
• Controversial MOTHER Goes on a Meme Coin Volatility Ride
• PEPE the Most Profitable Coin in May, DOGE Whales Buy $112M in 72 Hours

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Meme Coin News: Market Highlights

While the crypto market overall has seen a slight increase over the past 24 hours, the meme coin market is seeing quite a mixed picture.

The meme coin market capitalization is down 0.1%, standing at $66.6 billion.

Among the green coins, GME continues to be the best-performing meme coin. It’s up 226% in a day, now trading at $0.01289.

HABIBI is the second-best performer, having risen 81.3% to $0.04063.

When it comes to the red coins, Shark Cat (SC) is down 19% to $0.08685.

FOXY, BOB, and GIGA have all dropped around 17%.

Notably, only two among the top 10 meme coins per market cap are down today.

Source: cryptonews.com/coins/meme-coins/TURBO fell 6.6% to $0.00661, while Memecoin (MEME) is down less than 1% to $0.02956.

At the same time, Floki Inu (FLOKI) is the day’s best performer. It’s up 7.6%, now trading at $0.00027.

Milady Meme Coin (LADYS) is the second-best performer, with a 6% rise to $0.0000002283.

Other coins have done well as well, most of them rising above 1%.

Milady Meme Coin Gets $5 Million from DWF Labs

Milady Meme Coin (LADYS) has announced a $5 million investment from DWF Labs, a global digital asset market maker and multi-stage Web3 investment firm.

Per the DWF Labs, the LADYS team will “unlock more opportunities for development, collaboration, and community engagement.”

According to the press release, this collaboration will “unlock new avenues for development, collaboration, and community engagement within the LADYS and meme eco.”

We are proud to announce our investment in @miladymemecoin 🤝

We are excited to support their team to unlock more opportunities for development, collaboration, and community engagement.

Looking forward to the success of $LADYS in the meme coin landscape 🔥

— DWF Labs (@DWFLabs) June 3, 2024

Moreover, besides the capital, DWF Labs will provide strategic guidance and eco support.

This, per the announcement, will empower Milady Meme Coin to become a leader in the meme coin space.

The LADYS team also said that it plans to lead the next wave of innovation in this particular space.

It added that “LADYS embodies the indomitable spirit of memetic power and internet love.”

Controversial MOTHER Goes on a Meme Coin Volatility Ride

The MOTHER coin is just five years old, but it quickly entered the meme coin volatile machine.

The coin, which is connected to hip-hop artist Iggy Azalea, was launched on May 29 on the Solana blockchain.

MOTHER initially dropped in the first two days of its existence. It went down 73% from 0.01840925 on May 29 to 0.01840925 on May 31.

Source: coingecko.comIt then jumped a whopping 1641.4% to 0.086022 on June 1.

Since then, up until the moment of writing, it is down nearly 21%.

It’s currently trading at 0.06812.

Furthermore, the 24-hour trading volume went from $111,326,489 on May 29 to $49,988,936 on June 3.

The trading volume saw a 29.1% decrease in a day, signaling a recent fall in market activity.

The coin was faced with controversy at its launch, with accusations of insider trading.

According to Bubblemaps, insiders bought a whopping 20% of the MOTHER supply before its launch on Wednesday. Hence, they reportedly dumped $2 million worth of the token.

We found huge insider activity on $MOTHER 🚨

Insiders bought 20% of the supply at launch, before Iggy Azaela (@IGGYAZALEA) made the announcement, and already dumped $2M.

A thread 🧵 ↓ pic.twitter.com/tQFHt1yZfO

— Bubblemaps (@bubblemaps) May 29, 2024

Azalea replied to subsequent Bubblemaps’ tweets, stating: “Meanwhile, because this is my concept/coin – I’m somehow supposed to bare responsibility for what random ppl do with their wallets. When in reality them dumping only makes it harder for me to achieve my goal of is having a coin that is actually part of pop culture.”

PEPE the Most Profitable Coin in May, DOGE Whales Buy $112M in 72 Hours

PEPE was the most profitable among the major meme coins in May, according to the blockchain market intelligence platform IntoTheBlock.

A whopping 96% of PEPE holders were in profit at the end of May, it said.

The analysts explained that this resulted from the 90% return last month.

Thanks to an impressive 90% return this month, over 96% of $PEPE holders are now in profit. This positions $PEPE as the most profitable among major memecoins! pic.twitter.com/4BJkjDtha2

— IntoTheBlock (@intotheblock) May 30, 2024

The coin is up 2.4% over the past 24 hours, currently trading at $0.00001527.

It is down nearly 8% in a week and up 75% in a month.

Notably, it appreciated by 1,053% in a year.

It hit its all-time high of $0.00001717 just a week ago, on May 27. It’s down 11% since.

The coin fell to its all-time low on April 18, 2023, rising 27,567.5% since.

Meanwhile, Dogecoin (DOGE) grabbed quite a lot of crypto investor attention last week.

On May 31, crypto analyst Ali Martinez posted on Twitter that the DOGE whales had bought over 700 million DOGE in the previous 72 hours.

This was worth around $112 million, the analyst pointed out, utilizing the data provided by the blockchain analytics platform Santiment.

#Dogecoin whales have bought over 700 million $DOGE in the past 72 hours, worth around $112 million! pic.twitter.com/zpMoHz1azX

— Ali (@ali_charts) May 31, 2024

Popular analyst Michaël van de Poppe predicted “a massive breakout” for the coin.

Request 02 – $DOGE

This is such an easy play.

I think we'll be seeing a massive breakout of this one, and it might even be possible to reach $1 again this cycle. pic.twitter.com/xmsUzMAY9r

— Michaël van de Poppe (@CryptoMichNL) May 31, 2024

DOGE’s current price is $0.1621.

It’s up 2.1% in a day, down 2.8% in a week, and up 2.6% in a month.

Overall, it’s up 124% over the past year.

It appreciated 186,515.6% from its all-time low, hit nine years ago, and it fell 78% from its all-time high, seen three years ago.

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