Forget $DOGE it's Cat season.

Author

The Triple Scoop
October 31, 2023

The Triple Scoop

GM to the 20 new readers who joined this week. Without further ado. LFG

SCOOPS OF THE WEEK 

⛓️ NFT’s

  • Phantom Camera Mint

  • Sappy Seals Merchandise Drop

  • Mintable CEO Warns UK Over NFT Stance

👨‍💻 WEB3

  • Web3 Builders Raise $103M This Week Alone

  • SBF Calls FTX Customers Dumb Motherf*ckers

  • Gemini-Genisis $1.6B Face Off

🪙 CRYPTO

  • UK Confirms Plans for Crypto Regulation

  • Grayscale Ethereum ETF just entered the 240-day review process

  • Crypto exchanges facing liquidity crunch ahead of halving

💎 Premium

PNG. Line Break - Triple Scoop

⛓️ NFT’s

  • NFT Total Market Cap $5.34B - 24/hour change +0.27%

  • Volume Traded 24/hours - $15M +26%

    • BAYC leading with an increase to an FP of 31ETH.

    • Overall positive market trend, with most items showing gains of 5-10% across the board.

    • Pretty Favorable outcome for most NFT holders in recent weeks.

    • Both NFT and ETH prices have experienced upward movement, resulting in solid returns in USD terms.

    • Vombatus just acquisition of 100 Terraforms led to a 32% increase in floor price, reaching 1.7ETH.

    • Captainz Memeland: Floor price now at 6ETH, potentially linked to the upcoming $MEME token's Binance listing.

😸 MEMES:

 IT’S RAINING CATS NOT DOGS THIS SEASON

For years Dogs have ruled the roost in the land of memes & crypto at large. We have had DOGE, FLOKI, and SHIBA to mention the very very least. Millions were made for the bold & daring & hundreds if not thousands of derivatives have been launched over the past 24 months.

But is a new creature ready to take the throne? One who is an arch enemy do the dogs…

Welcome to the year of the CAT.

Previously we have seen attempts at the creation of Cat meme coins, like catecoin, but they have never managed to become a ‘Meta’. If you are not familiar with the term ‘Meta’ it’s almost the same as a trend, but as the trend grows in popularity, similarly themed projects launch & evolve. This tends to happen over weeks and then months.

The cat ‘Meta’ started with the infamous ‘Smurfcat’ as shown above. This Russian fantasy internet creature has received billions of views on TikTok and has mass viral appeal.

In mid-September, some devs launched ‘The Real Smurf Cat’ token which reached a high of over $40M, now (sitting at $25M) The token has gained popularity in the crypto space & has a thriving community behind them. The likelihood of this running into the hundreds of millions market cap.

Next came ‘BananaCat’, $BCAT again a ridiculous viral TikTok meme of a cat in a banana costume, the token launched recently and just hit a high of $5M map, now just around $4M. Similar to Smurfcat, Bananacat has a roaring community pushing it hard across Crypto Twitter.

Why have we taken an interest in the Cat Meta?

Firstly as stated the communities forming around these pairs are wild, but secondly we are seeing multiple derivatives & copycats (Pardon the pun) launch on the back of the two leading the charge. So far We have seen $HCAT, $ACAT & $PCAT, as well as $FELIX which is performing very well. Copycat derivatives often wreck people, but they are needed to help solidify a meta, as they further accelerate & amplify the attention of those leading the charge.

Big influencers are also getting on board the Cat train. Just search Smurfcat or $BCAT on Twitter and you will see for yourself. ‘CryptoGodJohn’ earlier this week, bought $50k’s worth of $SMURFCAT and then tweeted out, that its the best opportunity since $PEPE.

Keep on eye on this category of meme over the next coming weeks. With Onchain activity ramping up, we may see some of these cats jump higher than you expect.

Binance to allow Farming of Memelands new $MEME token!

At a glance 🔎 

  • The rollout started on the 30th of October.

  • Users can mint NFTs, turn memes and Tweets into collectibles, and turn photos and videos into Solana NFTs that can be saved forever.

  • Free collectibles are being offered to those as a reward,

🕵️ Scoops take:

You know what they say, if something is too good to be true then it probably is.

The idea behind this is great and is certainly going to take a lot of the technicalities out of creating collections with its user-friendly approach.

Concerns may outweigh the pros though. Blockchain bloat can easily occur as all NFTs need storage space.

Also, there is going to be an influx of personal NFTs hitting the space so there will be a huge discrepancy between emotional value and market value so the actual worth of the NFTs will be skewed.

That being said, this is a very easy way to onboard newbies so with the right education the future may look bright.

Our Premium Unlocks this week..

At a glance 🔎

  • The project released a video on their page showing T-shirts will be the merch of choice.

  • The only tagline is that they will be available briefly at noon EST on October 31st.

  • The limited edition drop is set to be available for 24 hours.

🕵️ Scoops take:

We have gone full circle with merchandise.

First, it was awesome, then it went extremely downhill and now it is making a comeback.

Did the Pudgies bring back this sentiment?

Whatever the case, we are seeing a real boom of projects riding the merchandising wave.

It is always a risky play riding on the success of other projects and we could just see a copy-and-paste job with the waves come crashing down.

A well-backed project from ourselves so we hope it goes well.

At a glance 🔎

  • “It’s not just a piece of artwork” warns Mintable CEO Zach Burks.

  • The latest report which focused on copyright infringement already covers all worldwide creations.

  • The huge variety of NFT functions means that a single inflexible regulation could be a massive setback.

🕵️ Scoops take: 

He already corresponds with the UK Government on a weekly basis so let’s hope his views are not falling on deaf ears.

We have been saying for months and months the landscape of NFTs is changing constantly and moving towards a utility future where they will become a part of everyday life.

Having a blanket regulation on what plenty still view as PFPs is extremely dangerous and would be a disaster for the future.

Don’t F*ck this up for those of us in the UK.

PNG. Line Break - Triple Scoop

🌐 WEB3

At a glance 🔎

  • Blockaid raises $33 million for blockchain security, having scanned 450 million transactions and thwarting 1.2 million malicious ones.

  • Neon Machine secures $20 million for "Shrapnel", a crypto-enabled first-person shooter game, offering in-game weapons as NFTs on Avalanche.

  • smlXL, backed by a16z, emerges from stealth with $13.4 million in funding, offering tools for exploring Ethereum and Avalanche storage and EVM opcodes.

🕵️ Scoops take:

Alright, so picture this: If Call of Duty and Fortnite had a crypto baby, that's "Shrapnel". With a whopping $20M behind it, it's setting the stage for the future of gaming where virtual goods, like your favorite weapon, can become real-world assets. Blockaid's security focus? That's like your home security system but for your digital coins, ensuring the booming Web3 universe isn't the Wild West. As for smlXL, think of them as the Google Maps of crypto, simplifying the maze. The stakes? They're changing how we'll game, trade, and navigate the digital world. Cheers to the future!

At a glance 🔎

  • Sam Bankman-Fried (SBF) faces intense cross-examination over inconsistent statements and actions while leading crypto exchange FTX.

  • Prosecutors highlight contradictions between SBF's public claims, private messages expressing disdain for regulators, and documented communications.

  • Revelations include SBF's concern over Alameda's potential insolvency after a market crash and emotional interactions with top FTX and Alameda Research officials.

🕵️ Scoops take:

Imagine the FTX saga as a plot twist in "The Wolf of Wall Street," where Jordan Belfort's empire crumbles under scrutiny. The unraveling of Sam Bankman-Fried's testimony is more than courtroom drama—it's a reality check for the crypto world. It underlines a clash between the renegade spirit of crypto and the uncompromising nature of law.

At a glance 🔎

  • Gemini alleges bankrupt Genesis owes them $1.6 billion from a security agreement involving 62 million GBTC shares.

  • Gemini accuses DCG, Genesis's parent company, of "gaslighting" creditors and mishandling recovery efforts for affected Earn Users.

  • Despite out-of-court resolution attempts, tensions escalate, with potential implications for creditor recoveries in the Genesis bankruptcy proceedings.

🕵️ Scoops take:

Kinda like two big Wall Street firms having a massive feud over IOUs scribbled on bar napkins. That's the Gemini-Genesis drama: two crypto titans clashing over billions. Beyond the staggering numbers, it shows how nascent our digital economy is. And while these giants spar, the average Joe, hoping for a slice of the digital pie, awaits clarity. Just another day in the Wild West of web3.

🪙 CRYPTO CRUNCH

  • Crypto Total Market Cap $1.27T - 24/hour change -0.9%

  • Total Crypto Volume 24 hours - $39.49B - Change +6%

  • Greed is still sky high, and $BTC is trying its damn best to push through $35K.

  • We expect to be range-bound between $31K -$35K BTC levels for the next week. As mentioned last week, it won’t be long before we push up into the $38k zone.

  • $38-40Kish could be a profit-taking opportunity before a larger retracement to the $30k’s again.

  • It all depends on your style. If you buy & hold and ride the ups & down then the next 12-18 months will be profitable.

  • But there are always profit-taking opportunities along the way, but it requires more attention and skill.

  • Onchain Activity is picking up steams and of course memes are once again popping off left right and center.

  • Right now you should be accumulating your high-conviction plays, ready for the bull run.

    Crypto narratives to focus on this Fall

  • - AI Infrastructure / AI tokens.

  • - Social-Fi /Gambefi

  • - Telegram trading Bot tokens

  • - Privacy Dex’s

  • - Revenue Sharing projects

  • - Liquid Staking derivative projects

  • - Metaverse & gaming tokens

  • - RWA - Real-World Asset tokens

Top Stories

PNG. Line Break - Triple Scoop

😡 THE REKT SECTION 😡

Bubble Row

Rugs seem to be part & parcel with the world of Web3, so better the devil you know than you don’t.

A thread has been shared by a mod who “worked” for Bubble Row.

Check it here below.

🏆 WEEKLY WINNER 🏆

Yuga Labs

It’s not just the good news we shared last week where the Court favoured them in the lawsuit against Ryder but ahead of Apefest HK, the project has seen a decent amount of positive movement.

It is now officially Apefest week and it shows.

BAYC is up to a floor of 30.35 ETH from 26 ETH 7 days ago.

MAYC is up to a floor of 5.71 ETH from 4.9 ETH 7 days ago.

BAKC is up to a floor of 1.86 ETH from 1.5 ETH 7 days ago.

We know these are rookie numbers compared to where they once were. However, they are now building back in the right direction

Welcome to the exclusive Member-only section of Triple Scoop  

Feast your eyes on the delights, surprises & Alpha below.

Subscribe to Triple Scoop Premium to read the rest.

Become a paying subscriber of Triple Scoop Premium to get access to this post and other subscriber-only content.

Already a paying subscriber? Sign In

A subscription gets you:
Researched Crypto Gems - 20-50x potential
Indepth analysis of new crypto tokens
Smart Money movements
Market Trends & Narratives