GM Degen!

Happy Sunday! I know, I know. Last week’s newsletter got lost in the ether. I went deep down the research rabbit hole and couldn’t find my way out. With all this action in the market, information overload is a real thing. Even for your trusted resident web3 researcher here.

There were so many hot narratives competing for investors’ attention over the past couple of weeks (not including BTC’s struggle to break its ATH.) Memecoins, AI coins, DePIN, RWA, and the Blast Network mainnet launch.

Today we’ll focus on the most degen in the bunch. Memecoins. But we’ll be sure to give the others the attention they deserve in upcoming articles and editions.

Here’s the scoop!

In this edition

• Headlines: The battle of BTC and Memecoins

• Market Snapshot: 3.10.24

• Gamefi FTW: Meme Kombat

• Defi the Odds: Hello?

• NFT Collection: Peplicator

• Degen Armory: RugCheck

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📰 NEWS

Top Headlines this Week

BTC is tickling ATHs as Coinbase goes down (twice), CashApp and Kraken run out of Bitcoin, 99% of BTC holders are in profit, and ETH gas fees skyrocket. If that doesn’ say the bull market is on, I don’t know what does.

Pepe leads the charge as Memecoins go parabolic, possibly signaling the start of Alt-Season.

A rare alien CryptoPunk sells for face melting $16M.

The Blast L2 mainnet goes live, unlocking $2.3B in ETH and stablecoins.

🪙 The Token Economy

Market Snapshot

Over the past week, Bitcoin surged to a new all-time high of $70,199, but struggled to maintain levels above $70,000, suggesting resistance from bears. Ethereum and select major altcoins showed resuming upward movement, indicating potential market attention shift. You know what that means? Altcoin season may be on the horizon, offering opportunities for traders.

Bitcoin

BTC has potential to soar to $76,000 and $80,000 if the price maintains above $70,000, but a sharp turn down below $62,500 could signal a corrective phase.

Ether

ETH is looking at increased potential to rise to $4,150 and $4,375, but caution advised as the RSI suggests a possible correction or consolidation in the near future.

Binance Coin

The price of BNB could rally to $500 and $572 if it stays above $460, but a break below the 20-day EMA at $404 may indicate aggressive profit booking and a potential drop to the 50-day SMA.

Solana

SOL is setting its sights on $158 if the price remains above $143, but bears need to sustain the price below $126 to initiate a potential downward movement.

Dogecoin

DOGE is gravitating towards $0.18 and retesting $0.20 if it maintains above $0.16, but a close below this level could push the pair to the 20-day EMA at $0.13.

Shiba Inu

SHIB is oscillation between $0.000027 and $0.000046 likely, with potential rally to $0.000065 upon breaking resistance, but a drop below $0.000027 could delay the start of the next uptrend.

Avalanche

AVAX is accelerating towards $50 and then $57 if it surpasses minor resistance at $45.20, but a drop below the 20-day EMA at $40.54 could result in a decline to the 50-day SMA.

Polkadot

DOT is attempting a rally towards $11 and $13.18 if bulls rebound off the breakout level of $9.59, but a plunge below the 20-day EMA at $8.91 could signal a deeper correction to $8.

Top 5 Token Stats

🔥 Hot Coins of the Week

With memecoins soaring the question always arises “what is the next Pepe?” Well, here is my list of low cap memecoins covering the animal-meme kingdom that you may want to take a look at.

• Hemule on Ethereum: Inspired by Vitalik’s cat, Hemule sits at a mere $63M mcap, allowing for some mighty healthy gains.
  Bounty submitted by @your-name-here - Alpha Hunters wanted

• Ribbit on Solana: Ribbit could be Solana’s Pepe moment, with this frog themed shitcoin. At a minuscule $8.3M mcap, those ultra-degen play could melt faces, if it doesn't melt down.
  Bounty submitted by @your-name-here - Alpha Hunters wanted

• Myro on Solana: Rounding out the list with the obligitory dog coin, Myro has been building massive hype. The $379M mcap shows its strong adoption. But with its K9 brethren Bonk’s $2.4B mcap, you can see just how early you could still be.
  Bounty submitted by @your-name-here - Alpha Hunters wanted

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🎮️ Web3 Gaming

Gamefi FTW

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Meme Kombat

Meme Kombat, a unique addition to the growing Gamefi ecosystem that pits meme coin characters against each other, fueled by the native MK token. With an AI managing the battles and graphics, Meme Kombat offers a fresh twist on the traditional gaming experience by intertwining cryptocurrencies with gameplay in a novel and engaging manner.

Behind Meme Kombat's rise lies a carefully crafted tokenomics model and roadmap that set the stage for its success. Sporting a total supply of 120 million MK tokens, Meme Kombat's strategic allocations for presale, staking, betting rewards, DEX liquidity, and community engagement hint at a promising future. Led by notable figures like North Technologies' COO, Matt Whiteman, the development team injects credibility into the project, while the recent $2 million presale success raises anticipation, although caution should always be exercised due to the inherent risks of early-stage projects. Dive deeper into the world of Meme Kombat to witness how it navigates the turbulent waters of the evolving Play-To-Earn landscape.

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A new web3 got you unable to put down the 🎮️ ?

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We also accept sponsored mentions for quality projects. Interested? Reach out.

💹 YIELD

Defi the Odds

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🤑 Top yield play of the week

I tried to stick with the theme of the week and bring you a sweet Memefi play. Unfortunately, while the crossover of memecoins and defi is starting to gain traction I didn’t find any I was excited (or comfortable sharing). However, if you know of a Memefi platform we should check out and possibly feature in a future edition, there is a bounty waiting for you! See the details below.

Defi Sector Stats

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Got a hot tip on some 🔥 defi plays?

Become an Alpha Hunter and submit your finds. If we add it to an upcoming edition of The Wei, the bounty will be yours! To get started read how to join the Alpha Hunter Clan. It takes less than 5 minutes and everyone is welcome.
We also accept sponsored mentions for quality projects. Interested? Reach out.

🖼️ NFTs

Collection of the Week

Bounty submitted by @your-name-here - Alpha Hunters wanted

Peplicator by Matt Furie

The ultimate meme, created by the man himself. Matt Furie launched Peplicator on March 8th. Unlike most mints this collection size was limited by time, allowing unlimited minting for 24 hours. (I can’t believe I missed this!)

To add to the fun, minters could respin their Pepe for infinite hilarious options until they found their favorite. This collection of simple, chaotic, raw or sleek, sad or happy Pepes explores the beloved meme in all his forms.

If you want to get your hands on a Peplicator there are 22.1K in existence, with only 8% listed and a quickly rising floor price of 0.268, at the time of writing.

While established NFT collections have been getting hammered (see the market performance below) presumably due to traders liquidating their JPGs for memecoinds, this collection is the best of both worlds. As is evident from it’s trading volume of 2,525 in just a couple days.

Stats: March 8 | 22.1K Collection | On Ethereum
Links: X | Discord | OpenSea | Website

NFT Market Performance

By 7D Volume

BOUNTY - 1,000 $WEI REWARD
Got a a scoop on a hidden 💎 of a collection?

Become an Alpha Hunter and submit your finds. If we add it to an upcoming edition of The Wei, the bounty will be yours! To get started read how to join the Alpha Hunter Clan. It takes less than 5 minutes and everyone is welcome.
We also accept sponsored mentions for quality projects. Interested? Reach out.

🛠️ Tools & Resources

Degen Armory

In the last edition of The Wei I introduced you to the must-have trading bot every degen should be using to trade memecoins on Solana. BONKBot. But there is one more tool you should have in your arsenal if you plan on wading into those tumultuous, but potentially lucrative waters.

RugCheck, should be among the first tool you use to determine if a token is safe to trade. With 90%+ of memecoins on Solana being rugs, due diligence is a non-negotiable. RugCheck analyzes token contracts and provides a report on its legitimacy and safety.

Simply copy and paste the contract address into the tool and you will see any risks it identifies. You will see all the red flags, from unlocked liquidity, to high single holder concentration, mint authority enabled, and more. See examples of good v bad RugCheck results blow.

My suggestion is, only buy tokens that pass the RugCheck challenge.

Tools Mentioned in Previous Editions

• BONKBot: Trade on Solana like a pro, using Telegram

• Mintify: The ultimate NFT trading terminal.

• The Arena: A rising star in the SoFi (Social Finance) sector.

• Inspect.xyz: The Layer 2 on X. Optimize the platform for your web3 journey.

• Wallet Guard: The most advanced web3 security extension featuring transaction simulation and proactive phishing detection.

• Presearch: The next-gen search engine for web3 natives, that pays you.

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