Meme coins are seeing a recovery after the market downturn. Several leading meme coins including WIF, DOGE, TURBO, and MEW have recorded double-digit growth in the past week.
As we enter another meme coin season, investors are setting their sights on the Olympics as the engine for meme coin growth.
Tokens like Solympics have already achieved massive sales, while others like Meme Games have achieved amazing numbers in their pre-sales.
Olympics value rises 412% amid carpet-pulling controversy
Solympics (SOLYMPICS) is an Olympic-themed meme coin on the Solana blockchain. In the last 24 hours, the token’s value increased by 412.75% to $0.003633 per token. The token’s launch was an exciting event for all its holders, giving them the opportunity to earn a quick 4x return on their investment.
However, Solympics is quite controversial when it comes to token distribution. As the coin went viral on Dexscreener, X (Twitter) user Shrebobo noticed that the token’s supply was being disproportionately held by a small number of people. This piqued their interest and led them to speculate that the coin could see a massive drop in value.
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#SOLYMPICS is currently ranked #2 on Dexscreener’s list, but be aware that it will be overlooked by Insiders.
There are a lot of rats that are taking up the majority of the supply and will drive away new buyers.
Be careful 👊 pic.twitter.com/pQwaM0jOcz
— Shrebobo (@shrebobo) July 22, 2024
Other X (Twitter) users noted that Solympics’ market cap jumped to over $1.6 million immediately after launch. The token’s developers purchased at least $32 worth of the token and then distributed it across multiple wallets, raising investor concerns about withdrawals.
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pic.twitter.com/lGXrMzXY1y
— Reksa199_Callers (@reksa199) July 22, 2024
Crypto Rug Muncher, an anti-scam influencer with over 20k followers on Twitter, recently highlighted the coin as 89% of tokens were mined on block 0.
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89% of the $SOLYMPICS supply was mined at block 0. https://t.co/qoMrk6jtKr pic.twitter.com/zeWB56oJ6U
— Crypto Rug Muncher (@CryptoRugMunch) July 22, 2024
Are Olympic-themed icons the next big thing?
Since most meme coins have little to no utility, design, marketing, and branding are crucial to their success. For example, cat-themed meme coins like cat in dogs world (MEW) have seen significant growth over the past week due to the clash of cat themes with the familiar dogs in the space.
The Olympic Games are among the largest regular events in the world, with a global audience of over 3 billion in 2020. This, coupled with the recent appeal of NationFi tokens that help holders express their national pride, makes for the perfect storm for high-quality meme coins.
The combination of NationFi and current events lends itself well to coin marketing efforts. If an Olympic-themed coin can go viral during the Olympics, it is sure to see a huge increase in value. The Olympics also naturally tend toward organic growth, as the sheer national pride is an excellent incentive for coin holders to share their experiences.
Since the Olympics only happen once every 4 years, the long-term potential of these coins is questionable, but they could generate huge gains in the short term. Investors are looking to launch a promising new ICO to make the most of this.
The Meme Games Leads the Way, Raising Over $200K in First Week of ICO
Meme Games (MGMES) is a brand new Olympic-themed meme coin that is currently in presale. The presale went live a week ago and the coin has already raised over $200k thanks to its marketing power.
Meme Games allows buyers to bet on the best meme coins as they compete in Olympic-style events. Available competitors include Turbo The Speedster, Doge The OG, Brett The Conqueror, WIF The Trendsetter, and Pepe The Versatile.
The games are fair and accessible, with each contestant having a 20% chance of winning an event. You can bet on a new contestant every time you buy into MGMES, and you will win 25% of your MGMES buy-in if the contestant you bet on wins the event.
The coin has already caught the attention of big names in the space, with sources like Cryptonews predicting a sharp rise when the MGMES DEX launches. Selling for $0.00905 per coin, this could be the lowest price the coin could reach.
There are only 3 days left until the next price increase, and now is the best time to take advantage of the Olympic spirit with MGMES.
Visit The Meme Games Presale