ETH is up over 9% since March 2023 following a series of good news blessing the Ethereum network. The current meme coin season is being dominated by Ethereum-based meme coins, with newcomer Pepe Coin achieving greater trading volume than both DOGE and BONK. Then, on May 23rd 2023, Hong Kong accepted the request for retail traders to trade cryptocurrency—further increasing the trading volume on the Ethereum blockchain.
Still, how does the ETH price rise with increased trading volume on the Ethereum network? Plus, which Ethereum-based meme coin is going to take the spotlight amidst this ETH boom? Is Big Eyes Coin in the running?
ETH Needs Meme Coins to Thrive
Ether (ETH) is the native token of the Ethereum blockchain that fuels the network. ETH is therefore used to pay for computational resources and transaction fees for every Ethereum-based cryptocurrency transaction on the Ethereum network.
As a result, ETH’s trading volume is tied to the inherent success of Ethereum-based cryptocurrencies. Right now, one of the most successful cryptocurrencies has been a meme coin, that has seemingly spread like wildfire overnight. Can Pepe Coin continue to circulate and pump up the ETH price?
Pepe Coin More Dominant than Dogecoin: But Will it Last?
Pepe Coin had an awe-inspiring rise after its launch on April 2023, with its groundbreaking ascendance of almost 5,000,000% and reaching a $1.8 Billion market cap in only three weeks- something that took DOGE 4 years to achieve.
Could Pepe Coin be the pinnacle of meme coins? Well, as history dictated with Dogecoin, Pepe Coin is now also on the decline—becoming distant from the dream of hitting the $1 price tag.
Big Eyes Coin’s 24-Hour Trading Volume Ambitions
Big Eyes Coin (BIG) is a new Ethereum-based meme coin on the scene, currently in presale until June 3rd 2023. This cat-themed meme coin incorporates cutesy art themes as part of its strategy to propel BIG to the top of the leaderboards, with a consistent trading volume that can last a lifetime.
On August 29th 2023, Big Eyes Coin will launch an online casino with over 4,000 casino games and numerous P2E games, with payout and entries to be handled in BIG. With the casino and P2E projects, there will be many ways to earn BIG tokens that haven’t been done with other meme tokens, making the project particularly lucrative to investors.
To incentivise the casino and P2E projects, Big Eyes Coin will launch an NFT marketplace to purchase and sell digital assets. This will further build users capital in the metaverse, allowing BIG to be one of the first to pioneer the Web 3.0. economy with income and commodified digital assets. There will be a metaverse space known as the NFT Sushi Crew, where you flaunt your digital assets and socialise with the community of cat lovers.
Conclusion: Ethereum Must be Ready for The Rise of Meme Coins
On May 22nd 2023, Ethereum creator Vitalik Buterin addressed his concerns about the Ethereum network becoming overloaded with traffic, which was noticeable with the hype surrounding Pepe Coin. Buterin stresses the importance for efficient optimisation for the network as it develops, which will only become more apparent as the publics appetite for cryptocurrency grows.
While Ethereum is currently being upgraded to become more efficient—it could be championing Big Eyes Coin in the future and for long-term success with its 24-hour trading volume ambitions.
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