Bitget Research Weekly Highlights: Meme emerges as the hottest sector this week, SUI set for IEO on three CEX platforms
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Bitget Research Weekly Highlights: Meme emerges as the hottest sector this week, SUI set for IEO on three CEX platforms
Over the past week (4/17 - 4/21), several new trending cryptocurrencies and topics emerged in the market.
Navigating Web3 tides with focused insightsOver the past week (4/17 - 4/21), several new trending cryptocurrencies and topics emerged in the market.
1. Market Trends
The most discussed topics in the market this week (04.17-04.21) were:
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Meme tokens collectively cooled down, further expanding the market's downward movement
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Overall market correction, with meme coins dominating Ethereum's on-chain trading leaderboard
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Memes remained hot, with multiple meme coins including PEPE surging over 100% in a single day after listing on Bitget
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Meme coins became the hottest sector in the market, with AIDOGE, PEPE, and WOJAK taking turns to surge
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SUI set its public sale price at $0.1, along with free SUIBG operational activities available
2. Popular Projects
The most popular projects this week (04.17-04.21) included:
PEPE (token): The "Sad Frog" meme coin, currently the most talked-about meme coin across the market, achieving an on-chain daily trading volume exceeding $100 million and dominating community discussions. Despite the broader market pullback yesterday, it逆势 rose to reach new highs. According to some on-chain data analysts, certain early addresses achieved millions in returns from less than 1 ETH of initial investment—representing gains of over 1000x. Users should be aware of participation risks. This token is currently available for trading on Bitget.
WOJAK (token): The meme coin most closely associated with the Sad Frog PEPE, based on the iconic human meme image. It currently has a 24-hour on-chain trading volume of $22 million and a market cap of $9.17 million, showing extremely high热度. It is now available for trading on Bitget.
XEN (token): On April 18, the XENKnights bidding event officially began. XENKnights is an experimental collection limited to 100 unique artworks inscribed on satoshis within the Bitcoin blockchain. A total of 100 XENKnight ordinals will be auctioned to the highest bidders, and the XEN from the top 100 winning bidders will be burned.
AIDOGE (token): A meme project from the Arbitrum community, with code generated by AI and offering free airdrops to ARB airdrop recipients. There is a 15% tax on token buys and sells: 1% is permanently burned; 2% added to the AIDOGE/ETH liquidity pool to increase depth; 3% distributed as staking rewards; 3% rewarded to secondary market traders; 3% used to buy ARB to subsidize protocol gaming and voting; initially, some ARB will be directly used to incentivize users to provide liquidity; 3% 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 somewhat related to PEPE and WOJAK, representing the elite class in meme culture. It recorded a 24-hour trading volume of $12.47 million and a market cap of $2.66 million.
XEN Torrent (NFT): XEN NFTs have now been deployed across 10 different EVM-compatible chains, with over 1 million addresses having minted them. Benefiting from recent price increases, on-chain arbitrage activity has become active again.
LFi NFT (NFT): A free-mint NFT built on Polygon, with a total supply of 1.1 million, already listed on OpenSea, held by over 100,000 holders, and showing high on-chain minting activity.
MEVBot (Dapp): jaredfromsubway.eth, a highly active sandwich bot recently on-chain, specializing in sandwich attacks on meme coins. It has executed over 570,000 transactions. According to Dune analytics, jaredfromsubway.eth spent 535.18 ETH (worth approximately $1,119,969) on gas alone in the past 24 hours, accounting for 8.3% of the entire network’s gas usage. Over the past week, this address consumed 1007.29 ETH (worth about $2,096,850), representing 3.79% of total network gas consumption.
Benji Bananas (Dapp): A play-to-earn mobile blockchain game backed by Animoca Brands. Recently, due to two major BAYC whale holders announcing their exit, overall ecosystem热度 has declined slightly. However, it remains one of the most active projects on the BSC chain and is currently running an Easter rewards claim event.
3. Hot Searches
The hottest topics this week (04.17-04.21) were:
PEPE (Token): A frog-themed meme coin with strong wealth effects, having surged 4,500x since launch. Widely discussed globally, OKX launched a poll asking whether the community identifies more with the “dog” or “frog” camp, fueling speculation about PEPE listing on OKX. It is already available for trading on Bitget.
Virtual-RNDR, High, VTK (Token): The key upcoming event between April and June is Apple’s 2023 Developer Conference, where users anticipate the release of an MR headset. As a result, projects related to AR, VR, and MR concepts may enter a speculative phase, with RNDR, HIGH, and TVK being particularly pure plays.
AUDIO, SOL (Token): On April 14, Solana announced that its Web3 phone, Saga, will be publicly released on May 8. The phone comes pre-installed with the Audius app, driving AUDIO’s price upward following the positive news.
Why Crypto Crash (Event): Yesterday’s sudden crypto crash saw BTC and ETH drop more than 3% and 4% respectively within one hour, triggering a broader market correction. With current market participants operating under relatively high average leverage and cryptocurrencies exhibiting significant volatility, users should remain cautious about trading risks.
Bitget Research focuses on “tracking on-chain data and uncovering valuable assets,” continuously monitoring on-chain metrics and regional search trends to identify cutting-edge investment opportunities. To date, it has provided early-stage value asset insights on popular sectors such as the Arbitrum ecosystem, AI ecosystem, and SHIB ecosystem for Bitget’s global users, creating superior wealth outcomes through data-driven, in-depth research.
[Disclaimer] The market involves risks; investing requires caution. This article does not constitute investment advice. Readers should consider whether any opinions, viewpoints, or conclusions expressed herein are suitable for their particular circumstances. Investment decisions made based on this information are at the user’s own risk.
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