Recently, there has been a meme craze in the crypto market. As soon as the Solana eco-meme pre-sale gameplay was cold, memes on the Base chain began to fly all over the place. Friends began to fomo on the Base chain. However, in the early morning, the crypto community exploded again. Sartoshi, the founder of the well-known NFT project Mfers, announced on X that he will issue his own meme token mfercoin on the Base chain and attached a "white paper" to it.
According to Dexscreener data, mfercoin became very popular after it went online, and the token price continued to rise. At around 2 a.m., when most airdrops were released, mfercoin was quoted at about US$0.04, and 4 hours later, its price will be to $0.20. Currently, the six-hour trading volume of mfercoin exceeds 50 million US dollars, and the market value reaches a maximum of 22 million US dollars. Players who stayed up late last night to "sell airdrops" may have to break their thighs again.
100 times in 6 hours. Such a crazy increase reminds us of the "magic market" BOME and SLERF a few weeks ago. Three days after its birth, BOME's market value has exceeded US$1.1 billion, reaching a peak of nearly US$1.5 billion. Affected by the BOME craze, the number of memes issued on the Solana network surged in a short period of time, and the number of active addresses on the network reached a peak in nearly a month.
For the "old leeks" in the currency circle, mfers is a very familiar name. If you are a "newbie" who has just entered the industry, you may be a little confused when you hear the name mfer, but those "old guns" in the meme NFT field "We must be familiar with it. Mfer was once a popular project during the NFT craze. It was once comparable to blue-chip NFT series such as Azuki and Cool Cats. Its founder sartoshi (@sartoshi_nft) is an anonymous NFT collector and meme artist. His pseudonym is the same as that of the founders of Bitcoin. Satoshi Nakamoto is very similar.
However, just when the mfer project was beginning to take shape, in June 2022, sartoshi suddenly announced his withdrawal from the NFT field on the Crypto Art, and has moved the mfers contract to the unofficialmfers.eth multi-signature wallet, "sartoshi_nft" will disappear permanently from the crypto field.
That’s right, after “disappearing” from the crypto industry for about two years, sartoshi has returned with a new Memecoin project.
Learn more about mfercoin
1. Why did Sartoshi launch mfercoin?
According to the white paper, Sartoshi believes that cryptocurrencies are no longer just for early developers. As cryptocurrencies begin to underpin social structures and transactions in a trustless manner, people from all walks of life will become cryptocurrency users, cryptocurrency holders, and cryptocurrency participants.
Therefore, mfercoin hopes to become a Memecoin for crypto users and a memecoin created based on the spirit of mfer. mfercoin has no intrinsic value, no profit expectations, and no prescribed utility. It is a token that represents the pioneers of cryptocurrency and future cryptocurrency participants. Memecoin, its concept is consistent with mfer NFT.
2. mefercoin supply and initial distribution
The fixed supply of mfercoin is 1 billion. There will be no additional issuance and no pre-sale. The project initiator will not receive the initial allocation of mfercoin. Sartoshi said that it will create a market that allows users to trade mfercoin according to their needs, and will invest a small amount of funds to support its liquidity. mfercoin will be built into a typical Memecoin, not for profit, similar to Dogecoin.
In terms of token distribution:
About 20% of the token supply will be distributed to thousands of wallet addresses in the mfer ecosystem (such as NFT holders, artists, community treasury, etc.), mainly including: - Various NFT holders in the mfer ecosystem; - Artists who have collaborated; - Community vaults and signers, as well as on-chain mfer contributors.
The remaining 0% will be invested in the liquidity pool and no other supply tokens will be reserved.
The specific distribution situation can be found in the figure below:
Will mfercoin be a flash in the pan?
After the launch of Mfercoin, it quickly attracted the attention of the encryption community. According to dexscreener data, mfercoin has exceeded US$0.25 at the time of writing this article, and its market value is approaching US$250 million, with a 6-hour increase of 182%. The project has attracted nearly 25,000 transactions, with the transaction volume so far reaching US$58.8 million.
The short-term popularity of mfercoin has also brought new popularity to mfer NFT. According to Coingecko data, the transaction volume of mfer NFT in the past 24 hours exceeded 150 ETH, an increase of 2855.4%, and its floor price also rose to 0.58 ETH, with a 24-hour increase of 55.2%.
Judging from the name of the mfercoin white paper, Sartoshi seems to have imitated Satoshi Nakamoto again, but compared with Satoshi Nakamoto, he seems to lack something.
Potential 100x token on Base chain
Now the Base chain has become the second base outside Solana. Base is the Ethereum L2 blockchain developed by Coinbase. Its mission is to "introduce the next billion users to Web3"; Coinbase's L2 Base is the current cryptocurrency field The fastest growing ecosystem, the BASE network currently generates $3-4 million in revenue per week and continues to grow; many BASE projects may grow 50-100 times this year.
Why are you optimistic about BASE?
Base has received widespread attention largely because of its parent company, Coinbase
• Owns the title of the largest centralized exchange in the United States, with a valuation of over US$60 billion
• Serves as custodian of 90% of U.S. $BTC spot ETFs
• Is the chain of choice for Blackrock and USDC
From a data perspective, the Base network has maintained steady growth in terms of user size, transaction volume and activity, and has shown a steep upward curve in the past half month.
As for Base’s network progress in DeFi, although it may appear to be quite satisfactory at the moment, this does not mean that there is no potential or opportunity for development. We will wait and see whether Base can rely on the popularity of Meme to bring new opportunities to the entire network and continue to maintain strong growth momentum.
Degen: Base chain MEME faucet
This is the current token leader in the Farcaster ecosystem, and may also be the Base chain leader. Previously, users may receive Degen token rewards as long as they make comments and other active actions in Warpcast's degen channel.
Degen was originally a MEME coin. But now, it has become a "functional" token for the entire ecosystem, and many projects are built around it, such as using it for rewards or as a trading target.
Brett: MEME concept coin
This is a Meme deployed on the Base chain. Brett, like Pepe, originated from 2005's "Boys Club".
Data shows that its market value is already 300 million, and its pool in the Base chain is close to 2 million US dollars.
What else?
Large market capitalization:$DEGEN $TOSHI $NORMIE $BRETT
Small market capitalization:$SENDIT $TYBG $CIRCLE $MOCHI $FRAME
