DWF Labs opens $20 million Meme fund

DWF Labs opens $20 million Meme fund

20241121

Hot projects + Market overview

I. Mainstream exchange news

  • WOO X has listed the Rifampicin (RIFSOL), Urolithin A (URO), and Apuscoin (APU) tokens for spot trading, as well as the OM/USDT, DOG/USDT perpetual contracts.
  • Coinbase has listed the FLOKI token.
  • OKX has listed the DEGEN/USDT, SLERF/USDT, and ARKM/USDT perpetual contracts and the MORPHO (Morpho) token for spot trading.
  • Bitget has listed the OL/USDT perpetual contracts with up to 20x leverage.

II. Mainstream projects and trending events

  • The Sci-Hub website has listed the memecoin scihub, which saw a surge of over 78% in value within an hour of its listing.
  • Sonic Labs (formerly Fantom) will launch the Sonic mainnet in December.
  • Digital asset service provider BitGo has established a subsidiary in Singapore to expand its business in the Asia-Pacific region. 
  • Econia Labs has launched emojicoin.fun, a platform on the Aptos blockchain. Within the first ten hours of its launch, over 1,400 memecoins were issued on the platform.
  • MicroStrategy will sell $2.6 billion worth of notes and use the proceeds to purchase Bitcoin.
  • Web3 investors and market makers DWF Labs have launched a $20 million Meme fund to support innovative memecoin projects across multiple blockchains.
  • Phantom, a Solana mobile wallet, has become the second most downloaded utility app on the US IOS AppStore, surpassing Google Chrome.

III. Funding news

  • Move ecosystem development platform Shinami has completed a $5.645 million seed round led by Race Capital.
  • Modular DEX protocol Valantis has completed a $7.5 million funding round led by SevenX Ventures.
  • AIGC blockchain game Gabby World has completed a $2 million funding round, participated in by SevenX Ventures.
  • Crypto gaming platform Monkey Tilt has completed a $30 million Series A funding round led by Pantera Capital.

IV. Regulatory news

  • The incoming Trump administration has nominated Bitcoin supporter Howard Lutnick as the Secretary of the US Commerce Department.
  • The Japanese government has announced a new economic stimulus plan that reduces the cryptocurrency tax rate to 20% and includes a proposal to raise the personal tax exemption limit to approximately $11,345.

V. Popular projects

Market overview

Bitcoin continues to break new highs, reaching $96,000 with its market dominance hitting a new peak at 61.67%.

This surge is draining liquidity from altcoins, causing widespread value declines.

As Bitcoin approaches the $100,000 mark, the squeeze on altcoins could intensify further. A healthy pullback in Bitcoin and a rebound in the ETH/BTC rate might be necessary for a rally in altcoins.

SCI-HUB: Leading the DeSci movement

SCI-HUB, the first and largest free academic paper download site globally, challenges the traditional costly access to scholarly articles by advocating for academic freedom.

As the DeSci sector gains momentum, SCI-HUB emerged as a prominent player.

The SCI-HUB token has a market cap of $36.8 million.

BULLY: Sinister AI concept in the DeFi sector

BULLY, powered by the advanced AI language model Dolos based on Llama 3.2, captures the essence of mischief, cunning, and digital chaos. 

Inspired by the chaotic world of cryptocurrency and Greek mythology, Dolos embodies the trickster god, offering sharp, witty, and often brutally honest interactions.

The token has a market cap of $46.51 million.

GIKO: The Internet's first cat meme

GIKO, known as the internet's first cat, originated in 1998 on a bulletin board at 2chan.net.

The GIKO token features no transaction taxes, with its token contract locked and abandoned.

GIKO has on-chain liquidity of $1.1 million and a market cap of $39.5 million.

BEER: Global beer-themed meme

BEER, a memecoin inspired by beer, is actively traded across various exchanges with a total supply of 888.8 billion tokens.

The project plans to launch beer-related games and NFTs.

Recently, the token's activity has increased, showing strong rebounds with a market cap of $36.22 million.

ALU: Multichain gaming platform

Altura is a vibrant gaming community composed of diverse gaming studios, developers, and players who push boundaries by integrating Web3 functionalities into video games.

Game developers use Altura's market and community tools to promote their games to a broad audience of gamers and Web3 enthusiasts, offering and selling NFTs on the Altura marketplace.

 The ALU token has recently rebounded strongly, achieving a market cap of $70.86 million.

FARTCOIN: AI-driven meme experiment

Fartcoin, a unique experiment combining AI with meme culture, is powered by the Terminal of Truth platform.

It allows users to witness unmoderated AI dialogues in chatrooms, exploring AI’s potential in unrestricted environments.

The project, which highlights AI's ability to exhibit distinct behaviors, reached $6.2 million in liquidity and a market cap of $288 million.

On-chain daily

1. ANON: ANON is a memecoin on the Base blockchain, anonymously deployed using Clanker AI on Farcaster. Vitalik and Base Protocol leader Jesse Pollak purchased small amounts of ANON tokens today.

2. WORRIEDGUY: WORRIEDGUY is a memecoin on the Solana blockchain, featuring the opposite of the recently trending memecoin, Chill Guy.

3. JANR: JANR is a memecoin on the Solana blockchain, featuring a TikTok-famous virtual mouse influencer with 12,000 followers and 14.8 million likes on TikTok, as well as 200,000 followers on Instagram.

4. GRUMPY: GRUMPA is a memecoin on the Solana blockchain featuring the Web2-era internet meme, Grumpy Cat (real name Tardar Sauce), known for her permanently grumpy facial expression. Recently gained attention due to an airdrop on Solana Saga Gen 2 phones.

5. DOGECAST: DOGECAST is a memecoin on the Ethereum blockchain featuring DOGE (Department of Government Efficiency), led by Elon Musk and Vivek. DOGECAST will host weekly live broadcasts to update U.S. citizens on DOGE developments. The project has completed its CTO.

6. TEE: TEE is a memecoin on the Ethereum blockchain, featuring the true AI memecoin, autonomously operated by AI technology. Previously banned on Twitter, but now reinstated.

  • On-Chain Token Holding Addresses: 4,061
  • Current Price: $0.0121
  • Market Cap: $12.1 million
  • Official Twitter: https://x.com/tee_hee_he

Bitcoin Ecosystem Overview

BTC Mainnet Gas Fee Update:

  • Current BTC Transaction Fee: 4 satoshis/byte
  • Gas fees have slightly rebounded but remain sluggish overall.

Fractal Bitcoin Gas Fee Changes: 

  • Current Transaction Fee: 1 satoshi/byte
  • Gas fees remain low with no signs of recovery or upward trend.

Inscription, Rune, and Fractal Bitcoin Leading Token Tracking:

ORDI:

  • Current Price: $35.95
  • 24-Hour Change: -3.65%
  • Market Cap: $755 million

DOG:

  • Current Price: $0.008205
  • 24-Hour Change: +14.99%
  • Market Cap: $823.06 million

FB:

  • Current Price: $5.03
  • 24-Hour Change: +0.62%
  • Market Cap: $32.2 million

Today's Popular Projects:

GLIZZY: A fractal Bitcoin inscription themed around hot dogs, with notable narratives involving celebrities. The community is large.

  • Current Market Cap: $1.64 million
  • 24-Hour Trading Volume: $1.5K
  • 24-Hour Change: -7.73%
  • Number of Holders: 18,042

Wawa: An inscription themed around "Lucky Frog," positioned as the son of Pepe in the storyline. Promoted through offline stickers.

  • Current Market Cap: $2.73 million
  • 24-Hour Trading Volume: $46.67K
  • 24-Hour Change: +19.19%
  • Number of Holders: 2,685

MANIFEST•AI•TION: A Rune token with an AI concept reportedly leveraging the AI16z framework. The community is relatively small.

  • Current Market Cap: $552.73K
  • 24-Hour Trading Volume: $117.57K
  • 24-Hour Change: +73.39%
  • Number of Holders: 1,077

Performances of today's top three tracks

PayFi: Overall daily sector change: -0.66%

1. CLV: CLV is a one-stop infrastructure platform for cross-chain and decentralized applications. The CLV chain is a dedicated Layer 1 chain based on Substrate, EVM-compatible, and interoperable across chains.

  • Daily Increase: 25.62%
  • Current Price: $0.11635
  • Current Market Cap: $116.35M
  • 24-Hour Trading Volume: $451.56M

2. PIP: PIP is a Web3 payment company focused on delivering a seamless payment experience on the web for retail users. It offers various services and products for individuals and merchants to easily use cryptocurrency payments across the internet.

  • Daily Increase: 6.98%
  • Current Price: $0.0262
  • Current Market Cap: $6.16M
  • 24-Hour Trading Volume: $108.25K
  • Recent Updates: Completed $10M seed round funding on October 10.

3. ZPAY: Blazpay is an end-to-end payment solution offering various products tailored for individuals and businesses, focusing on simplifying financial transactions and fostering cryptocurrency adoption.

  • Daily Increase: 6.51%
  • Current Price: $0.00573
  • Current Market Cap: $2.25M
  • 24-Hour Trading Volume: $84.38K

CeFi: Overall daily sector change: -1.74%

1. SOLO: Sologenic is a tokenized ecosystem that enables users to invest, trade, and tokenize assets like stocks, ETFs, and fiat currencies on the XRP Ledger.

  • Daily Increase: 14.52%
  • Current Price: $0.28315
  • Current Market Cap: $113.03M
  • 24-Hour Trading Volume: $3.96M

2. CHO: Choise.com is a MetaFi (CeFi/DeFi) ecosystem simplifying DeFi product usage by offering a non-custodial wallet, cross-chain bridge, exchange, decentralized derivatives, and other solutions.

  • Daily Increase: 14.31%
  • Current Price: $0.02308
  • Current Market Cap: $2.53M
  • 24-Hour Trading Volume: $4.33M

3. SWFTC: SWFT Blockchain is a one-stop cross-chain trading protocol and payment network, offering custody and non-custody (decentralized) storage options as well as NFT and lending features.

  • Daily Increase: 12.05%
  • Current Price: $0.00357
  • Current Market Cap: $32M
  • 24-Hour Trading Volume: $3.97M

L1: Overall daily sector change: -1.79%

1. DGB: DigiByte is an innovative blockchain for digital assets, smart contracts, decentralized applications, and secure authentication.

  • Daily Increase: 23.00%
  • Current Price: $0.01075
  • Current Market Cap: $186.78M
  • 24-Hour Trading Volume: $120.27M

2. ARRR: Pirate Chain is a privacy-focused decentralized blockchain that uses zk-SNARK to protect 100% of peer-to-peer transactions for highly anonymous and private trades.

  • Daily Increase: 13.15%
  • Current Price: $0.2925
  • Current Market Cap: $57.39M
  • 24-Hour Trading Volume: $217.59K

3. SGB: SubGame Network is a parachain project focused on developing on-chain gaming and payment module engines.

  • Daily Increase: 9.01%
  • Current Price: $0.00862
  • Current Market Cap: $132.77M
  • 24-Hour Trading Volume: $1.06M

Disclaimer

The development and market cap of stablecoins mentioned in the above content is speculative and based on market analysis at the time of writing and should not be interpreted as guaranteed outcomes. Market conditions can fluctuate widely and unpredictably due to numerous factors such as regulatory changes, market demand, and global economic developments. 

The information provided in this article is for general informational purposes only and does not constitute financial, investment, legal, or professional advice of any kind. While we have made every effort to ensure that the information contained herein is accurate and up-to-date, we make no guarantees as to its completeness or accuracy. The content is based on information available during writing and may be subject to change.

Please note that this article includes references to third-party websites and data provided solely for convenience and informational purposes. We do not endorse or assume any responsibility for the content, accuracy, or reliability of any information, products, or services offered by third parties.

Cryptocurrencies involve significant risk and are NOT suitable for the majority of investors. The value of digital currencies can be extremely volatile, and you should carefully consider your investment objectives, level of experience, and risk appetite before participating in any staking or investment activities.

We strongly recommend that you seek independent advice from a qualified professional before making any investment or financial decisions related to cryptocurrencies. We shall in NO case be liable for any loss or damage arising directly or indirectly from the use of or reliance on the information contained in this article.

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