Since last night, American celebrity meme coins seem to have collapsed collectively, with $MOTHER falling 30% and $JENNER falling 48%. Some other popular new coins also collapsed, with $PEW falling 28%. Although American celebrity memes collapsed, the heat seems to have shifted to the Bitcoin Rune ecosystem. Bitcoin Rune experienced a period of high heat at the beginning of its launch, and then fell into a cold period. Now it is starting to heat up again. The Rune concept has risen sharply in the past few days, with a total market value of over 1.4 billion US dollars, and many projects have risen by more than 100%.
Next, let’s take a look at what happened last night.
1. Multiple celebrity memes have plummeted, is this concept over?
Last night, Caitlyn Jenner, who started this wave of celebrity meme coins craze, suddenly announced on X that she would release a new coin on the Ethereum chain, which directly led to the collapse of the $JENNER token, which was not only cut in half, but also cut to the heels, with a market value of only 7 million US dollars. The current market value of the new $JENNER coin on the Ethereum chain is only 2.2 million US dollars. 
2. Black singer Davido released his own meme coin, but failed to replicate the success of $MOTHER
Black singer Davido released his personal token $Davido and continuously tweeted on the X platform to promote it. However, the token failed to reach the height of $MOTHER . The price of $Davido has experienced a roller coaster market, and the current market value is 2.8 million US dollars, while $MOTHER still has a market value of 12 million US dollars after today's sharp drop .
3. The concept of runes continues to heat up, and multiple concept currencies have soared
After a period of cooling down, the Bitcoin Rune track is now heating up again. Some top Rune projects have been pulling up the market for several days in a row. For example, DOG GO TO THE MOON broke through $0.007, an increase of more than 33%, and the market value exceeded $700 million, a record high. For example, Ord.io listed the top ten Rune tokens by market value on the X platform, all of which rose, and the increase was large:
1. DOG GO TO THE MOON: $674.4 million, up 29.8%;
2. RSIC•GENESIS•RUNE: US$204.2 million, up 23.4%;
3. PUPS•WORLD•PEACE: US$159.2 million, up 42.2%;
4. DECENTRALIZED: $45.3 million, up 38.6%;
5. RUNES•X•BITCOIN: US$37.1 million, up 1.4%;
6. EPIC•EPIC•EPIC•EPIC: US$35.9 million, up 4.9%;
7. SATOSHI NAKAMOTO: US$32.7 million, up 16.8%;
8. LOBO THE WOLF PUP: $26.8 million, up 53.3%;
9. Z•Z•Z•Z•Z•FEHU•Z•Z•Z•Z•Z: US$22.5 million, up 5.2%;
10. THE DONALD TRUMP: $16.1 million, up 14.8%.
4. Bitcoin wallet Unisat's PIZZA airdrop event has ended, with more than 200,000 addresses participating
UniSat, the native Bitcoin wallet, posted on social media that the "PIZZA" collection event has ended, and all 21 million pieces have been collected. A total of 200,738 addresses have received PIZZA in this event. UniSat also stated that it will start engraving and airdropping pizza inscriptions in the next few days, and this process will take about a week or more.
Given that runes are driving the heat of the Bitcoin ecosystem, Unisat’s “pizza” inscription has a very meme-like attribute and is worth paying close attention to in the future.
5. Insider: Biden campaign changes stance and begins contacting key figures in the crypto industry
Trump's pro-crypto stance is attracting tens of millions of crypto industry voters in the United States, and he has even been dubbed the "American Crypto Patriarch" by some people, forcing the Biden campaign team to change its attitude towards the crypto industry.
U.S. President Joe Biden’s reelection campaign has begun reaching out to key figures in the cryptocurrency industry, seeking guidance on “the crypto community and crypto policy moving forward,” according to people familiar with the matter on May 29. The sources said this marks a major “shift” from the government’s previous cold attitude toward the industry.
The US election is leaning in favor of the crypto industry. Thanks to the US election, the Ethereum spot ETF, which was originally thought to be unapprovable, was suddenly approved. ARK Invest CEO and Chief Investment Officer Cathie Wood said at the 2024 Consensus Conference that the Ethereum spot ETF application was approved because cryptocurrency was an election issue.
“The interpretation was that it would not be approved, absolutely not approved,” she said in an interview. “If it was approved in the normal way, we would be questioned by the SEC. But no one had received such a question before.”
6. Ethereum spot ETF latest progress: launch at the end of June is possible
There were a lot of new developments in the Ethereum spot ETF last night, and it seems to be accelerating its approval for trading.
1) DTCC’s official website listed the Fidelity Ethereum spot ETF code FETH yesterday
2) BlackRock Files Amended S-1 Registration Statement for Proposed Ethereum ETF
The registration statement discloses information about the seed funding investors.
The SEC recently began dialogue with issuers regarding the S-1 form, and some analysts speculate that the process could take weeks.
Bloomberg ETF analyst Eric Balchunas wrote on the X platform on Wednesday that BlackRock's filing of the S-1 amendment is a "good sign." There is a reasonable possibility of launching an Ethereum ETF at the end of June, but analysts still believe it will be launched on July 4.
