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It’s the 69th edition of the Gems Corner, and today, we’ll be looking at the craziness of memecoins and what it means for your bags, and other alphas as usual.
This week has been full of electrifying charts, especially with memecoins. They are the biggest benefactors of the bull run so far, after blue chip tokens like Bitcoin, Ethereum, and Solana - which have been outstanding, too.
Bitcoin reached an all-time high (ATH) of $93,000, Solana broke $220, and Ethereum $3,330, respectively. Donald Trump's election victory has been instrumental in the market reawakening and continues to be so.
Binance announced the listing of two memecoins on November 11, The AI Prophecy $ACT and Peanut the Squirrel $PNUT, with both coins doing +2500% and +1600%. We have also had many memecoins doing multiple Xs in the past 7 days.
The memecoin supercycle is indeed here.
This window of opportunity to make insane gains on memecoins doesn't always come around. Do well to maximize it.
If you need to learn how to spot memcoins, here are some tips for trading memecoins and a thread.
Understanding Memecoins: Recognize that memecoins are highly volatile and often driven by community sentiment rather than intrinsic value.
Research and Due Diligence: Investigate the team behind the coin, its community engagement, and the project's transparency.
Early Entry: Identify promising memecoins early to maximise potential gains before they gain widespread attention.
Risk Management: Only invest what you can afford to lose, given the speculative nature of memecoins.
Exit Strategy: Have a clear plan for taking profits and exiting positions to avoid significant losses during downturns.
Sponsored by Zero1 Labs
$DEAI Leads the AI Mindshare Race, Verified by Kaito Analytics
Zero1 Labs, the first PoS DeAI ecosystem is set for AI-driven growth at 1/60th of TAO’s market cap. . While BitTensor’s PoW costs $2M annually, Cypher’s PoS, featuring FHE and EVM capabilities, operates below $10, making secure, high-performance AI accessible.
Zero1 is ranked #2 in AI mindshare by Kaito AI, entering the AI supercycle as Grayscale’s ETF positions AI for an $800B market by 2030. With $DEAI’s tokenomics locking 82% of supply for 12-18 months, $DEAI deflationary model is perfectly timed for Cypher Testnet’s launch, setting a strong foundation for long-term growth.
Crypto AI is still on Course
Crypto AI is among the top-performing narratives of 2024 and is showing no signs of stopping soon. NEAR has established itself as a clear leader by being the biggest protocol in that category by market cap and frontrunning the narrative.
NEAR is set to drive the narrative further with its recent plans.
At the Redacted conference in Bangkok, NEAR announced its plans to build the world's largest open-source model with 1.4 trillion parameters. The project involves crowdsourced research spearheaded by the NEAR AI Research Hub, which starts with a 500M parameter model on November 10.
For this purpose, NEAR intends to raise $160 million via token sales to fund the compute cost and training. With this incoming development, I think the $NEAR token is undervalued. The token saw 30% growth in the last seven days, and I intend to see more growth in the next few weeks.
Alpha Bites and Tweets
That’s a wrap.
Thanks for reading!
See you next Friday.
Viktor DeFi.
PS: I’d love to hear your feedback and comments.
