Bitget Research Weekly News: Meme becomes the hottest sector this week, SUI is about to launch IEO on three CEXs
Focus on on-chain data, weekly news roundup.Author: Bitget
In the past week (4/17 - 4/21), the market has seen several new popular coins and topics.
1. Market Trends
The most focused topics in the market this week (04.17-04.21) are:
MEME tokens collectively cool down, and the market decline further expands.
The overall market pulls back, with MEME coins dominating the Ethereum chain trading leaderboard.
Meme continues to be hot, with multiple Meme coins like PEPE surging over 100% in a single day after being listed on Bitget.
Meme has become the hottest sector in the market, with AIDOGE, PEPE, and WOJAK experiencing consecutive surges.
SUI has confirmed a public offering price of $0.1, with SUIBG operational activities available for free.
2. Popular Projects
The hottest projects this week (04.17-04.21) include:
PEPE (token): Sad Frog MEME coin, currently the hottest meme coin in the market, with a single-day on-chain trading volume exceeding $100 million, dominating community discussions; despite the market pullback yesterday, it surged to a new high. According to some on-chain data analysts, certain early addresses gained millions in profit with less than 1 ETH investment, with increases of over a thousand times; users should be aware of participation risks, and Bitget currently offers trading for this coin.
WOJAK (token): The MEME coin most closely related to Sad Frog PEPE, featuring a highly captivating human meme image. Currently, the token has a 24-hour on-chain trading volume of $22 million and a market cap of $9.17 million, with extremely high popularity; Bitget currently offers trading for this coin.
XEN (token): On April 18, the bidding activity for XENKnights officially began. XENKnights is an experimental collection limited to 100 unique artworks, engraved on satoshis on the Bitcoin blockchain. A total of 100 XENKnight ordinals will be auctioned to the highest bidders, and XEN from the top 100 bidders will be burned.
AIDOGE (token): A meme project from the Arbitrum community, with code generated by AI, and airdrops distributed for free to ARB airdrop users. The token trading incurs a 15% tax, of which 1% is permanently burned; 2% is deposited into the AIDOGE/ETH trading pair to increase depth; 3% is allocated as AIDOGE staking rewards; 3% is rewarded to secondary market traders; and 3% is used to purchase ARB to subsidize protocol games and voting. Initially, some ARB will be directly used to encourage users to increase liquidity. 3% is allocated for development; the token currently has a 24-hour trading volume of $18.5 million and is listed on Bitget.
CHAD (token): A meme coin related to PEPE and WOJAK, an elite token with a 24-hour trading volume of $12.47 million and a market cap of $2.66 million.
XEN Torrent (NFT): XEN NFT is currently deployed on 10 different EVM-compatible chains, with over 1 million addresses minting, benefiting from recent price increases, and on-chain arbitrage activities are once again active.
LFi NFT (NFT): A free mint NFT built on Polygon, with a total of 1.1 million pieces, now listed on Opensea, with over 100,000 holders and high on-chain minting activity.
MEV Bot (Dapp): jaredfromsubway.eth, a recently very active sandwich bot on-chain, specializes in sandwich attacks on meme coins, with over 570,000 transactions. According to Dune's data, in the past 24 hours, jaredfromsubway.eth consumed 535.18 ETH in gas, worth about $1,119,969, accounting for 8.3% of the entire network's data; in the past week, this address consumed 1007.29 ETH, worth about $2,096,850, accounting for 3.79% of the entire network's data.
Benji Bananas (Dapp): A F2P mobile chain game invested by Animoca Brands. Due to the recent exit of two major BAYC holders, the overall ecosystem's popularity has decreased, but it remains a highly active project on the BSC chain, currently conducting Easter event reward distributions.
3. Hot Searches
The hottest topics this week (04.17-04.21) include:
PEPE (Token): A frog-themed meme with a very strong wealth effect, having risen 4,500 times since its launch. It is widely discussed worldwide, with OKX conducting a poll for the community to choose between the "dog" camp or the "frog" camp, raising expectations for PEPE's listing on OKX. It is now available for trading on Bitget.
Virtual-RNDR, High, VTK (Token): The core related event from April to June is Apple's 2023 Developer Conference, where users predict the release of an MR headset product. Projects related to AR, VR, and MR may enter a speculative period, with RNDR, HIGH, and TVK being the most relevant targets.
AUDIO, SOL (Token): According to Solana's official website on April 14, its WEB3 phone Saga will be publicly released on May 8, with the Audius app built into the phone, causing AUDIO to rise due to positive news.
Why Crypto Crash (Event): Yesterday, cryptocurrencies experienced a flash crash, with BTC and ETH dropping over 3% and 4% respectively within an hour, leading to a market pullback; the average leverage ratio of market participants is high, and the volatility of cryptocurrencies is significant, so users need to be cautious of trading risks.
The Bitget Research Institute focuses on "focusing on on-chain data and uncovering valuable assets," continuously monitoring on-chain data and regional hot searches to discover cutting-edge value investments, providing institutional-level insights for crypto enthusiasts. To date, it has provided Bitget's global users with early value assets in several popular sectors such as the [Arbitrum ecosystem], [AI ecosystem], and [SHIB ecosystem], creating a better wealth effect for Bitget's global users through data-driven in-depth research.
