SCOOP’S TL;DR

📈 MARKET SENTIMENT

• Strong performance in equities, with SPX/NDQ closing 1.2-1.5% higher.

• Interest rates have risen, with 10Y at 4.65%.

• Alt rally is soon to be underway as BTC holds at $64k.

• ETH and SOL on the rise, recently reaching $3280 and $160 respectively.

🔥 THE TRENDING NARRATIVE

• Meme coin mania. What’s behind their success?

🔥 BARBELLS WEEKLY PICK

• $TRUMP $BODEN

🗞️ TOP STORIES

• CZ Update

• Asia & Middle Eastern Pump

• BetBase

• Coinbase Pepe Boost

• FireBlocks New Offer

🏆 WEEKLY WINNER

• POPCAT

😡 REKT SECTION

• SEC Lawyer

💎 PREMIUM SCOOP

• Smart money is aping heaving on this Solana Meme coin

• 2 x Early meme coin tokens for your radar that are heating up again.

  

  CRYPTO FEAR & GREED INDEX

• Crypto Total Market Cap $2.37T - 24/hour change 3.11%

• Crypto Market Cap Total Volume $82.64B - 24/hour Change - 18.48%

  Majors - 24/Hour change

  • BTC - $64,010 - 0.01%

  • ETH - $3141 - 0.01%

  • Strong performance in equities, with SPX/NDQ closing 1.2-1.5% higher.

  • Interest rates have risen, with 10Y at 4.65%.

  • Alt rally is soon to be underway as BTC holds at $64k.

  • ETH and SOL on the rise, recently reaching $3280 and $160 respectively.

  • BTC dominance dropped by almost 1% in the last 24 hours to 54.66%.

  • Memecoins experiencing significant gains, with PEPE and WIF up about 20-30%.

  • Memecoins gaining importance in the market, offering potential exponential returns with increased risk.

  • PEPE rallied after Coinbase listed perps yesterday, while WIF is set to go live on Coinbase tomorrow.

  • Overall sentiment in crypto improving, with hopes for new all-time highs on alts.

  • Movement in Ethereum ETF applications: Grayscale filed an S3 and Blackrock filed an amendment to their 19b-4, indicating continued interest despite previous quiet periods.

  • Bitcoin/dominance - 54%

  • Bitcoin’s dominance holds strong in the markets for now. Not much has changed here. We expect a slight push-up from 55% to around 60% before the real Alt season takes hold

  Start your free premium trial

  🔮 NARRATIVES TO FOCUS ON IN 2024

• - AI Infrastructure / Autonomous agents

• - GPU / Cloud Computing

• - Gaming / Game-fi

• - DEPIN (Decentralised Infrastructure)

• - RWA - Real-World Asset tokens

• - Memes - (you’re not too good for them)

• - BTC Defi / BRC20

• - New Layer 1’s

• - Parallelization EVM / Modular Blockchains

• - Solana Killers

  

  Be the envy of friends…

  Become a member of Triple Scoop Premium to be the first to hear about the latest gems & undiscovered projects this bull cycle.

  Start your free premium trial

🔥 THE TRENDING NARRATIVE

Crypto is a narrative & trend-driven game, where attention goes, the money flows. So what’s hot?

THE SECRET TO MEME COINS SUCCESS

Memecoins. These digital assets, propelled by the power of memes, that once carved out a significant niche for themselves are now becoming a black hole that the market can’t ignore. Meme coins are challenging traditional utility-based coins and redefining the dynamics of value creation in the crypto sphere.

But what makes them so successful?

Memecoins offer a unique value proposition that sets them apart from their utility-based counterparts. They embody marketing, simplicity, sustainability, liquidity, and safety. Let's delve deeper into why meme coins are experiencing unprecedented success and disrupting the conventional norms of cryptocurrency.

1. Army of marketers

   Memecoins are often solely led by raging diehard communities, each community has one united purpose and is fixed on one common goal, which is..(Increase the size of the market cap of their meme coin to as high as humanely possible) There is no other utility to the coin. They are there to make people money. Nothing else matters. Literally.

   Sure some fail. But each community is doing their best efforts to increase the price of the coin, that is it.

   How do they do it? By consistently creating & posting memes , representing their token on socials to drive attention to their token, competing for the mind share of the market.

2. Simple / Accessible: Memecoins are often simpler to understand and participate in compared to complex on-chain Ponzi schemes or yield farming protocols. Their straightforward nature lowers the barrier to entry for both investors and creators, democratizing access to the world of crypto investing.

   When normies & retail enter the market in their droves, where do they want to place a bet? In something easy to understand or something complex?

3. Sustainability: Unlike short-lived frenzies of crazy APY% protocols, meme coins offer a more sustainable model of value creation. Their meme-driven communities foster engagement and loyalty, creating lasting networks that contribute to the longevity of these coins.

   As meme coins rise or fall, communities unite stronger together, facing off fud as a unit and tackling the challenge head-on.

4. Liquidity: NFTs gave communities a huge sense of identity, especially during the 2021 NFT bull cycle. But much like NFTs, Memecoins again provide a huge sense of community. You hear phrases like, "The Cat keeps Poppin” for $POPCAT or “The hat stays on” for $WIF. But, the advantage that meme coins hold over NFTs is that they boast much higher liquidity, making them more attractive for traders and investors seeking quick and seamless transactions. This liquidity enhances price stability and enables smoother market operations.

5. Safety: There is nothing worse than a solid project experiencing a hack, rug, or collapse due to miscalculated tokenomics or some algorithmic supply-demand mechanism. We saw it with $LUNA, and many other large & smaller projects. Even if the project had good intentions, credibility & trust are forever lost following such scenarios.

   Memecoins mitigate the risks associated with (DeFi) platforms by eliminating smart contract vulnerabilities. Investors can participate in memecoin ecosystems with greater confidence, knowing that their funds are relatively secure from technical exploits or hacks.

6. Low Inflation and Insider Influence: Memecoins typically avoid the pitfalls of inflation and insider dumping often associated with new coins. This absence of artificial inflationary pressures and insider manipulation enhances investor trust and confidence in the asset's value proposition.

7. No Team & Updates to let you down:

   You’ve been there before, awaiting a marketing campaign, tokenomics update, or partnership release, only to be let down by the final result. The majority feel the same & the price of the token tanks. Furthermore teams & project leads are held hugely accountable, if they don’t communicate regularly enough, FUD. If they make a poor decision, FUD. If they tweet something the community disagrees with. FUD.

   When you think about it, a lot of utility-based tokens, with centralized teams have much more inherent risks & points of weakness than a fully community-owned meme coin.

   There is a reason Bitcoin is so successful. Zero point of failure. Satoshi understood this and kept himself anonymous.

8. Favorable Odds: Gambling is never going away, it is a huge industry & people can’t get enough of it. But if you could gamble with better odds, than the casino, wouldn’t you do it? Memecoins offer investors, degens & traders better odds of success compared to traditional forms of gambling, such as casinos, lotteries, or sports betting. While they are 100% speculative in nature, the vibrant communities and meme-driven narratives surrounding these coins contribute to their resilience and potential for growth.

The increasing adoption and popularity of meme coins are evident in their ability to absorb liquidity and mindshare from various sectors within the crypto market. As they continue to gain momentum, the scale of their influence is poised to surpass all expectations.

Multiple meme coins surpassing $100 billion market capitalization by the peak of this market cycle might not be far-fetched. Memecoins have demonstrated an uncanny ability to capture the imagination of the masses and defy traditional valuation metrics, making such a milestone within reach.

Meme Coins are not all sunshine and roses. They face competition. It is a game of who can grab the most attention & mindshare, so of course new ones pop up all the time. The key to back the front runners, winners continue to win.

Our current favorites are:

$WIF / $TRUMP / $POPCAT / $BODEN / $BRETT $DOGINME / $MOG

ProTip*

With the rise of Memecoins, corporates, sophisticated teams & VC’s are looking to gain market share. But there is a core difference between corporate & organic meme coins. Corporate meme coins, whilst they often have big marketing budgets & teams, still fall into the pitfalls associated with centralized teams/utility coins as mentioned above. Of course like some utility coins, some will soar to great heights and establish themselves as major players, but many will fall on the way up.

Organic Memes > Corporate Memes

STUDY THIS 👇

credit @muststopmurad

🏋️ BARBELL’S WEEKLY PICK

In each issue, our Founder ‘Jack Barbell’ delivers a hot rising star crypto asset that is yet to explode.

You can Follow Jack Barbell on X - @thebarbell_

$TRUMP: Making Memes Great Again

Marketcap - $285M

Narrative - MEME

Short-term potential - 2X

Long-term Potential - 5-10X

Scoop’s Take

$TRUMP token has proven its staying power and solidified itself as a major player in the ‘Politi-Fi scene, much like $BODEN on Solana (Also worth checking out).

We bring $Trump back around as a weekly pick as it is being accumulated heavily by whales at the moment, over the past few weeks, 20 profitable whale wallets have been accumulating a combined $4.5M in $TRUMP holdings. Not only that, the chart is still on a 50% retracement from its former highs, meaning just a reclamation of its prior ATH will deliver you a cool 2X. The chart looks to be curling up nicely for a breakout, we may continue the accumulation phase for a little longer, or $TRUMP could bust out in true $TRUMP fashion. Either way, this chart looks bullish on the weekly time frame, perfectly bouncing off the 0.618 Fib retracement level.

Reasons to be bullish on $TRUMP

1. Multi Chain: $TRUMP MAGA token starting on ETH now trades on-chain across ETH, BASE, SOL & BNB. All major chains covered.

2. Catalysts Galore: With numerous events throughout the year, $TRUMP Token is guaranteed to stay on people's minds. Whether it's his recent primary wins, big speeches, or court cases, each event serves as a catalyst, ensuring that $TRUMP Token remains a hot topic of conversation.

3. Main Election Spectacle: Brace yourselves for the main event—the showdown between Trump and Biden. With global news coverage and a series of high-profile events, the main election promises to be a rollercoaster ride of drama and excitement, providing ample opportunities for $TRUMP Token to shine.

4. Crypto Community Support: Love him or hate him, Trump has a dedicated following within the crypto community. Many crypto enthusiasts are right-wing leading & rooting for his success, adding fuel to $TRUMP Token's fire.

5. Meme Magic: Let's face it—Trump is a walking meme. From his quotable quotes to his signature dances, Trump provides endless material for meme enthusiasts to work with, ensuring that $TRUMP Token remains relevant.

6. Perfect Bull Run Alignment: The timing couldn't be better for $TRUMP Token, with the election cycle coinciding perfectly with the bull run. As excitement builds throughout the summer and culminates in November, $TRUMP Token is poised to ride the wave of bullish sentiment to new heights.

7. Considerations for Trading: It's important to note that $TRUMP Token may experience a post-election dump, unless it can establish itself as a multi-billion-dollar meme coin before then. However, for those willing to ride the wave, $TRUMP Token could become a blue-chip meme coin in its own right.

8. CEX Listing Challenges: While $TRUMP Token has immense potential, it may face challenges in getting listed on centralized exchanges due to political sensitivities. However, this could also be seen as an opportunity for decentralized exchanges to shine.

   

   $BODEN:

   Marketcap - $285M

   Narrative - MEME

   Short-term potential - 2X

   Long-term Potential - 5-10X

   Scoop’s Take

In the Politi-FI race, $Boden & $Trump will go head to head, just like in real life. $BODEN has managed to attract the mindshare & attention of many & has gone beyond the phase of being a standard pump and dump. We expect this token to do well over the coming months in the lead-up to the election.

Another point to note on how the Mematics of $BODEN work. If you hate Biden, you can buy $boden as a joke to mock him, as you can see the meme is clearly light-hearted in its approach. But on the other hand, if you are support Biden, you can also by $BODEN as a show of support. It works both ways, which could be quite powerful with buyers coming in on both sides of the fence.

2 X LOW CAP MEME COINS THAT ARE HEATING UP AGAIN

FIND OUT WHICH MEME SMART MONEY IS BETTING BIG ON

CZ Update - An Anxious Wait

At a glance 🔎

• The U.S. Department of Justice has demanded a 3-year prison sentence for CZ and a $50m fine.

• The demand comes from “enabling the violation of federal sanctions and money laundering”

• CZ’s legal team have asked for probation given the substantial fine and guilty plea.

• The former Binance CEO is expected to be sentenced on the 30th of April.

🕵️ Scoops take: 

Does fining an extremely wealthy man teach him the lesson the law wants to give? Probably not but clearly, they are trying to make an example out of CZ here.

The harsh sentence they seek is to try to deter others from doing the same, a lazy blanket rule which won’t hold any precedent…to be expected by the lawmakers at this stage.

Our main issue is the hypocrisy in treating CZ vs. the Wall Street Crash in 2008.

In case you were not aware, in the 16 years post-crash, only 1 banker was jailed and the rest just paid fines.

The bias is clear.

Asia & Middle Eastern Pump - We Are Global.

At a glance 🔎

• Hong Kong’s Spot Bitcoin ETF is set to begin trading on the 30th of April.

• following Hong Kong’s lead, Japan, South Korea and Singapore want to approve theirs.

• In terms of the Middle East, adoption is booming.

• Daily Traders in the Middle East surged 166% to 500k and 72% of users in the UAE own Bitcoin.

🕵️ Scoops take: 

The Middle East, specifically the UAE, is slowly but surely becoming the place to be regarding all things Crypto.

They have done this the right way with incredibly favourable regulations and tying this with the bull run leads to serious momentum and growth.

With Biden leaving a stage in America quoting Capital Gains Tax proposals north of 40% it is maybe time to get the passport looked out.

BetBase - A New Way Of Gambling

At a glance 🔎

• BetBase is a Decentralized sportsbook that is coming to Base.

• It is a P2P sportsbook that allows betting on sports, prediction markets, poker & more.

• They are launching their own token to go with it.

• Everything will be on-chain so there is no need for deposits, sign-ins, usernames or passwords

• They want to create a future where the gaming and prediction market can live on-chain.

  🕵️ Scoops take:

There are more than enough Casinos and Bookmakers in this world. This peer-to-peer idea will certainly be attractive to the masses.

It is only at the grassroots level for now so it is not going to be Atlantic City just yet, but the more attractive opportunities to bring in the masses the better.

Gamble Responsibly.

Coinbase Pepe Boost - Memecoins Outperforming The Rest

At a glance 🔎

• Coinbase has now opened the PEPE-PERP Market following its initial delay.

• It went live on the 23rd of April 2024 at 9:30 am UTC

• In the 24 hours that followed, PEPE spiked 16% and is up 49% over the last week.

• The coin is down 10% over the last month, but this is due to a correction and indicators show it is recovering.

• WIF is up next with trading set to begin on April 25th.

  🕵️ Scoops take

With the general Crypto market moving steadily, Memecoins are where the heavy price movement is at.

The PERP volumes are a real bullish sign but the mega retail onboarding will come when / if Coinbase lists Spots.

With WIF having a 33% increase over the last 7 days, FOMO and excitement are certainly kicking in.

Announce Spot Please!

FireBlocks New Offer - Safety First

At a glance 🔎

• The custody firm now offers threat detection for institutions.

• They have launched dApp protection and transaction simulation products to help users avoid suspicious smart contracts, phishing websites and compromised dApps.

• They are now able to detect decentralized applications across over 40 Blockchains via WalletConnect.

  🕵️ Scoops take

A massive hurdle that will naturally hold those nervously looking to join the space is safety.

The sophistication we are seeing on the daily now regarding phishing sites, scams etc. is off the charts.

The more safety protocols we see, the more we will share as this is commonly the biggest issue from the masses being here right now.

🏆 WEEKLY WINNER🏆

$POPCAT

If you didn’t realise…it is Memecoin season.

The latest to join the booming cycle is POPCAT who have just been on a crazy week-long streak.

They soared from $100m to $455m over the last 7 days flipping $BODEN, in the process, to become the 5-th largest memecoin on Solana.

It has retraced a little to a marketcap of $392m but it is up 281% in the last week.

To some, the season has changed to Spring, for the Degenz it is Cat Season.

😡 THE REKT SECTION 😡

SEC Lawyers

Two Lawyers from the SEC, Michael Welsh and Joseph Watkins, have had to resign after a Judge sanctioned them for gross abuse of power in a Crypto case.

According to Judge Robert Shelby, the SEC’s Lawsuit against DEBT Box was marred by false statements, misrepresentations and a lack of evidence.

If embarrassing situations like this won’t make Gensler resign, what will it take for him to go?

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

Subscribe to Triple Scoop Premium to read the rest.