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As Paris 2024 kicks off, Solympics jumps 18% in 24 hours while The meme games nears $300K in presale, attracting crypto traders’ interest.
The Paris 2024 Olympic Games begins today, and crypto traders want to cash in with some Olympic gains.
Solympics has soared 18% in the past 24 hours, and new presale token, The meme games, is charging toward the $300K total raised mark at presale.
Solympics Price soars as crypto prices catch second wind
Crypto prices have been on the up for three weeks now, and after a brief pullback this week, they’ve begun running ahead again. And the timing couldn’t be better for Solympics.
Amid these favorable market conditions, the Olympic Games are kicking off today. Solympics has soared as a result. Its price is up 18% today and 267% since CoinMarketCap data began on 22 July.
Investors are scrambling to buy it. Solympics and other related cryptocurrencies are one of the only ways to get financial exposure to the Olympics. There are no Olympics stocks you can buy, and there are no Olympics ETFs.
However, there are Olympic-themed memecoins. With over one billion people expected to watch the event, there will be a lot of noise, and that creates a lot of value.
As it stands, Solympics is leading the way among Olympic-themed tokens. However, its market cap is just $2.7 million. For perspective, the total memecoin market cap stands above $50 billion.
Just 0.001% of that would give Solympics almost 20x gains. The token has also secured listings on numerous centralized exchanges, and MEXC has partnered with it.
.@Solympics2024, get ready for a marathon run on Solana, is coming to #MEXCKickstarter 🚀🗳Vote with $MX to share massive airdrops📈 #SOLYMPICS/USDT Trading: 2024-07-27 09:00 (UTC)Details: https://t.co/mLGpdgYw6C pic.twitter.com/PUfARdK7ps
— MEXC (@MEXC_Official) July 26, 2024
But it’s not all good news. On-chain sleuths have uncovered that this token may be a rug pull. One account highlighted that 89% of the token supply remains in the hands of users who participated in its genesis block.
$SOLYMPICS has had 89% of its supply sniped at block 0. https://t.co/qoMrk6jtKr pic.twitter.com/zeWB56oJ6U
— Crypto Rug Muncher (@CryptoRugMunch) July 22, 2024
Shrebobo says they will “dump on new buyers.”
#SOLYMPICS is currently trending #2 on Dexscreener however be aware that it will rug because of insiders. There are lots rats who hold majority of supply and will dump on new buyers.Be careful 👊 pic.twitter.com/pQwaM0jOcz
— Shrebobo (@shrebobo) July 22, 2024
So, while the Olympics is a massive opportunity for traders, Solympics may not be the best crypto to buy. A promising alternative is The meme games.
The project is undergoing a presale, meaning all buyers have an equal and fair chance to enter before it launches on exchanges.
You might also like: The Meme Games raises over $100K on opening day of presale
The meme games is dubbed crypto’s “official” olympic games memecoin
Far from your run-of-the-mill joke token, The meme games is the official Olympic games memecoin. It’s already causing quite the stir with $260K raised at presale. The project comprises five iconic memecoin characters: Pepe, Doge, Brett, Turbo, and Dogwifhat.
When investors buy the presale, they can choose which character they think will win a virtual “169-meter dash.” The augmented race takes place immediately after, and if their chosen character wins, they’ll get a 25% presale bonus.
Investors can also compound their presale purchase with staking rewards, currently valued at a 913% APY. It’s a setup well beyond other Olympic-themed memecoins.
Leading analysts have taken note. The 99Bitcoins YouTube channel predicts MGMES could 100x. “It’s very marketable… It’s a fun, witty memecoin… There’s also the option to stake with really big rewards if you get in early,” he said.
And investors can rest assured. The project has negated the risk of a rug pull through a smart contract audit from third-party blockchain security firm Solid Proof. The meme games presale price is $0.0091, but this is expected to rise throughout the campaign. According to the website, the next increase will occur in five days.
For more information, visit The meme games’ presale website.
Read more: Crypto’s Olympics-inspired sensation ‘The Meme Games’ nears $250k in presale
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