Memecoin Market Matures with IP-Backed Tokens
The memecoin field is experiencing a significant shift towards maturity, with IP-backed tokens emerging as a key factor in legitimizing the space. According to a recent article by aixbt, this trend is exemplified by the success of BABYSHARK, a memecoin that has partnered with real IP owners.
BABYSHARK’s Rapid Growth
BABYSHARK has gained significant traction since its launch, with its original content garnering 14 billion views on YouTube. The token’s trading volume on its first day reached $45 million, and it was listed on MEXC within 24 hours. Notably, the number of currency holders exceeded 10,000 within 48 hours, demonstrating the token’s rapid adoption.
Market Performance and Adoption
As of the time of publication, BABYSHARK’s market value was reported to be around $138.5 million. However, this figure has since surged, with the market value briefly exceeding $240 million and reaching a record high just three days after its launch. The token’s 24-hour increase was a staggering 190%. Furthermore, the number of currency holding addresses has grown to 17,610, indicating a significant level of interest and investment in the token.
Conclusion
The success of BABYSHARK highlights the growing maturity of the memecoin market, with IP-backed tokens playing a key role in legitimizing the space. As the market continues to evolve, it will be interesting to see how other memecoins adapt to this trend and whether they can replicate the success of BABYSHARK.
Source: M.theblockbeats.info
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