Transak Lists 11 New Meme Coins Including PNUT and GOAT

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As a seasoned crypto investor with a knack for spotting trends and understanding market dynamics, I find Transak’s decision to add 11 new meme coins intriguing. Having witnessed the meteoric rise and fall of various meme coins over the years, I can appreciate the potential these assets hold in terms of community support and serving as an entry point into Web3 for many novice investors.

Transak, a provider of infrastructure for Web3 payments, has expanded its offerings to include 11 popular meme coins. These newly added digital tokens are PNUT, WIF, FLOKI, BOME, NEIRO, GOAT, MEMEFI, MEME, MOODENG, POPCAT, and BRETT, which can now be accessed on its platform.

This news comes from an exclusive press release shared with BeInCrypto.

Transak Sees Future for Meme Coins

Transak used multiple factors when deciding which meme coins to incorporate. They analyzed objective indicators such as trading volumes and credibility from centralized platforms, and also assessed their capacity for facilitating user transition to Web3. As per Carlo de Luca Gabrielli, Global Sales Director at Transak, the key attributes were often more subjective in nature.

As a passionate crypto investor, I firmly believe that meme coins flourish on the unwavering backing of their communities. When selecting the meme coins to partner with, Transak prioritized ‘community durability’. In essence, they’re betting on the idea that if a cryptocurrency project boasts an incredibly strong and almost fanatical support from its community, then it will undoubtedly find practical applications in due time. This is the perspective Gabrielli put forth.

Despite Transak not being a traditional exchange, its operations seem to have been affected by the surge of popular meme coin listings on major exchanges. Notably, several exchange platforms have been actively listing notable coins lately, occasionally causing significant price increases for these assets.

For example, in the last month, Binance’s listing caused a 50% price jump in DEGEN. Sui-based meme coin HIPPO experienced a similar rally in early November.

Over the last few months, significant cryptocurrency trading platforms have been quick to add newly emerging and less expensive meme tokens to their listings. This suggests that these marketplaces are aware of not wanting to miss out on wider surges in meme coin popularity. Earlier in Q1 2024, the bullish trend of meme coins built on Solana primarily favored decentralized exchanges.

Historically, exchanges such as Binance have been known for their slow and cautious approach when it comes to listing meme coins. However, it appears that this practice may be evolving. In the most recent instance, Binance listed the Pudgy Penguins (PENGU) token on its release date, leading to a mass sell-off among airdrop recipients.

In a somewhat less intense manner compared to others, Coinbase has followed suit with similar strategies. Their coin listings have resulted in more subdued price increases for various meme coins, but the platform is still pushing boundaries. For instance, they introduced perpetual futures contracts on TURBO as recently as October.

Despite some analysts predicting downturns in this field, it appears that Transak remains dedicated to its approach involving meme coins. For Gabrielli, these assets represent a fresh, buzzworthy trend and an effective method to generate enthusiasm for the Web3 environment.

At Transak, we support and recognize the influence of meme coins as a significant cultural trend and their role as an introduction to Web3 for numerous individuals. By adding 11 new meme coins to our platform, we aim to provide users with the opportunity to join in on the crypto culture journey that could potentially lead to widespread adoption of this groundbreaking technology.

Over the past week, many popular meme coins have experienced significant sell-offs, resulting in a 12% overall market drop. Notably, Dogecoin (DOGE) and Shiba Inu (SHIB) have suffered over 20% losses, as reported by CoinGecko’s latest data.

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2024-12-20 20:39