Bitget Wallet Weekly Report｜17.Apr- 21.Apr
About this week
It's been a wild week for meme tokens! Investors in $PEPE saw gains of over 4,500% in just four days, while $PEPE and $AIDOGE led the charge in a market-wide meme frenzy. And as the meme craze continues to grow, copycat tokens like BABYPEPE are popping up, with single-day gains of up to 2,000%. Other tokens associated with $PEPE, like $APDE and $WOJAK, also saw impressive daily gains of 110% and 64%, respectively. With the successful upgrade of LSDFi on Ethereum and confidence in the upcoming Cancun upgrade in a few months, the market is abuzz with excitement.
In the past week, a total of 31 new projects were added to our online database. The chart below shows the top performing projects in the past week and reflects the overall increase over the last week.
The Bitget Wallet (Previously BitKeep) Academy continually sources for promising projects showcases trending projects, providing the most detailed information as soon as possible. All the projects mentioned in this article can be traded on the Bitget Wallet (Previously BitKeep) wallet. Bitget Wallet (Previously BitKeep) will select high-quality assets and NFT projects daily to share with Bitget Wallet (Previously BitKeep)ers, helping everyone easily capture market opportunities while obtaining the latest information.
The AIDOGE token is a meme token based on the Arbitrum chain. 95% of the $AIDOGE tokens were distributed through airdrops to eligible $ARB holders, and its popularity grew through social media. A 15% transaction tax and deflationary model incentivizes token holding, liquidity provision, and ultimately increases its value.
The $AIDOGE token combines several concepts such as meme, AI, DOGE, and Arbitrum, and features a tax and deflationary model. Overall, AIDOGE is a project worth paying attention to.
Pepe ($PEPE) is a meme coin on the Ethereum blockchain and has become one of the most actively traded projects with a daily trading volume of 30 million on Uniswap, making it the highest traded project on the Ethereum blockchain.
On Wednesday of this week, $PEPE officially announced that it would begin airdropping tokens to its community. $PEPE did not have a presale and boasts zero taxes. The $PEPE token is fully circulated and its market value has grown by $100 millionafter being listed on MEXC and Huobi exchanges this week.
$WOJAK is a meme token with a strong connection to $PEPE and has received support from the PEPE community. It boasts a highly active user base, with a 24-hour trading volume of 27 million.
With a market cap of 9.8 million USD and a new ATH of 13.2 million, it has the potential for explosive growth, especially with ongoing airdrop campaigns. It is now listed on major exchanges such as Uniswap and Gate.io.
The emergence of decentralized gaming has completely transformed the gaming industry, with Web3 gaming experience leading the charge.
On April 18th, the Sinverse team announced that they would be holding a land sale on April 21st at 8 pm. Users will need to use $SIN to participate in NFT purchases, with 10,000 SIN per plot for whitelisted users and 12,000 SIN per plot for public sales. The approaching land auction has stimulated a rise in token prices.
This upcoming sale will be the last land sale before the Sinverse open resale market. The resale market is expected to be launched in the second quarter of 2023, followed by the NFT Land staking, which is expected to have some speculative value. Due to this news, $SIN saw a maximum increase of 85% on the same day.
HELLO Labs is a Web3 ecosystem built around the creation, incubation, and distribution of exclusive TV shows, games, NFTs, and live events.
Play-to-Earn (P2E) has dominated the market, and HELLO recently launched the P2E game "Dash Of the Dead" and heavily promoted it. The game is available on Google Play and the App Store. Despite a recent price increase of 19%, $HELLO still has a relatively small market cap of $29 million.
SPACE ID($ID) Keyword：DID+ETH
SPACE ID is establishing a universal name service network that provides a one-stop identity platform for discovering, registering, trading, and managing Web3 domains.
This week, SPACE ID announced the formation of a DAO Treasury, where 50% of the platform's total net revenue (including domain registrations, renewals, gift card purchases, and SPACE ID marketplace fees) will be used to buy and burn ID tokens. The remaining 50% will be added to the DAO Treasury, which will hold stable coins and be managed by all eligible ID token holders.
Due to the market rebound and the news of token buyback and burning, $ID has risen 18% in the past 24 hours and 108% over the past week.
VelodromeFinance ($VELO) Keyword：OP+DEX
Velodrome Finance is a trading and liquidity market on the Optimism network. $VELO can be used for various scenarios, such as decentralized trading, staking, mining, and cross-chain payments, increasing its utility and value.
Currently, $VELO has a TVL of $287 million, maintaining its position as the top project in the OP ecosystem. The upcoming Ethereum Cancun upgrade in a few months is not only good news for the OP ecosystem, but also for the leading projects within the ecosystem. With its recent strong price performance and increasing trading volume, $VELO has the potential to break through its previous highs.
Memecoins from the past, as well as current tokens like Pepe and Aidoge have all adopted a free and fair distribution method, attracting more users to participate and spread information. Each wave of meme trends in the market can stir strong emotions and consequently, either boost or crash the entire market. Therefore, it's important to maintain risk awareness during times of high FOMO. With Ethereum's successful Shanghai upgrade, the upcoming Cancun upgrade presents yet another potential investment opportunity. Ethereum staking is good for the overall ecosystem and liquidity staking track, and currently, LSDFi concept projects and their tokens are steadily increasing in value. The market is full of expectations for the Cancun upgrade, and in addition, Re-staking has been unlocked as a new promising strategy within the staking sector.
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Risk warning: Digital currency is a high-risk investment method. Investors are advised to purchase cautiously and pay attention to investment risks. Bitget Wallet (Previously BitKeep) will select high-quality currencies, but does not undertake guarantee, compensation and other responsibilities for investment behavior. Digital asset contract trading is an innovative product with high risks and strong professionalism. Please judge your investment ability rationally and make investment decisions prudently.
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