Co-founder of Mechanism Capital Andrew Kang has drawn attention to the potential profitability of a new class of memecoins known as "culture coins," which go beyond the usual animal- and humor-themed meme tokens and explore deeper cultural values including politics, religion, and lifestyle.
Read MoreDespite the difficulties facing the entire cryptocurrency ecosystem, it has been claimed that Pump.fun, a new platform that focuses on the launch and trade of memecoins, made $5.2 million in just 38 days
Read MoreDue to the recent meme currency frenzy, the Solana network is currently experiencing stress as it struggles to handle the volume of transactions.
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