The Kitten Show: World of Memecoins🎙️
04.12.2024 / 4 PM UTC

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Daily Memecoin Recap - October 26

Decent volume for a Saturday

Minecraft Meta
$pig -> $664k to $9 .18m (13.8x), minecraft pig, first mover
$steve -> $20k to $1m (50x)
$test -> hit $2 .44m, first coin deployed on Minecraft by stevetoshi
#minecraft -> hit $941k
$dog -> hit $367k , minecraft dog

Dubai Baby Rhino
$onyx -> hit $3 .88m
- Dubai Safari releases the name of their baby rhino

Dog Meta
$wiz -> hit $1 .83m, wizard dog, same dev as #moodeng

Artificial Intelligence
$shegen -> $20 .75m to $44 .7m (2.2x)
#project89 -> $4 .58m to $31m (6.7x)
#memesAI -> $4 .6m to $45m (9.8x)
$chaos -> hit $6 .4m
#praiseAI -> hit $2 .45m
#raccoon -> hit $1 .73m, Raccoon AI
$vof -> hit $1 .36m
$ex -> hit $1 .1m, NSFW ai robot
$sara -> hit $800k
#pilgrim -> hit $300k

Goat Betas
#babygoat -> $483k to $8 .3m (17.2x)
$moshi -> $55k to $2 .4m (43x), completely unrelated coin, but since Truth Terminal tweeted "moshi", this one pumped
$moshi -> hit $6 .12m, based on a truth_terminal tweet
#daddygoat -> hit $1m , $goat beta

Place Pixels
$pixel -> hit $6m

More Cooks
$ban -> $2 .5m to $39m (15.6x), viral banana taped to wall
#malakai -> $1 .9m to $6 .33m (3.3x)
$eth -> $600k to $4 .6m (7.6x), based on VitalikButerin's tweet "the ticker is ETH"
#ftj500 -> $390k to $1 .32m (3.38x)
$nofap -> $531k to $1 .6m (3x), ansem replied
$chris -> hit $2 .16m
$x /acc -> hit $1 .8m, extreme accelerationism, good community
$dots -> hit $1 .8m
$swig -> hit $943k , gen z meme
$pan -> hit $816k , comedian pepe
$myst -> hit $782k , $43k + in LP Rewards
$drog -> hit $497k , dog + frog
$escape -> hit $335k , escape the rat race

Are you touching grass?

Chaos Labs has raised $55M in a Series A round led by Haun Ventures, with participation PayPal and others. Chaos Labs focuses on enhancing risk, security, and incentive strategies to drive trust and transparency in decentralized finance.

After causing significant congestion issues across the Solana network in April, the ORE mining protocol returns to “revive the long lost dream of crypto as p2p electronic cash.”

Love it or hate it, Proof-of-Work crypto mining is returning to Solana. ORE, the wildly popular mining protocol that besieged the Solana blockchain in April is returning, promising a revised and more egalitarian approach to distribution.

With ORE price climbing over 100% in anticipation of the relaunch, the question needs to be asked: What will be different this time around?

ORE v2: WHAT'S DIFFERENT?
Pseudonymous founder HardHatChad launched ORE as an experimental Solana hackathon project in April 2024. Leveraging a Proof-of-Work mining concept on a high throughput Proof-of-Stake blockchain, HardHatChad aimed to create a truly fair token launch.

In a matter of days, the Ore protocol objectively became the most used program in the Solana ecosystem at the time, generating over 12M transactions between 124k+ users.

However, due to flaws within the project’s model and network congestion issues caused by the ORE mining, HardHatChad opted to pause mining to focus on redevelopment. Despite the chaos, OreSupply took home the grand prize at the Solana Renaissance Hackathon.

After months of development work behind the scenes, HardHatChad has teased the relaunch of ORE v2. Courtesy of several key changes, the passionate founder renews his mission to “revive the long lost dream of crypto as p2p electronic cash.”

HERE'S WHAT TO EXPECT:
• No Admin Variables - The revised protocol will rely on open-source algorithms to manage all program variables, such as mining difficulty.

• Mining Multipliers - Staking ORE tokens gives miners a rewards multiplier of up to 100%, based on their proportional stake. This only applies to miners submitting valid hashes and cannot be abused through flash-loans.

• Fixed supply - Like Bitcoin, ORE has a fixed maximum supply of 21M. One ORE will be issued per minute, projecting a fully emitted supply by 2064.

• Sybil Protection - In the relaunched protocol, miners will maximize rewards by submitting the most difficult hash possible. This is expected to discourage sybil miners and mitigate network congestion.

• Accessible Hash Function - A new hash function closes the performance gap between high-end hardware and consumer devices, lowering ORE mining’s barrier to entry.

• Client Software - OreSupply has revamped its software to improve performance and reliability. HardHatChad also promised to launch client software that will be compatible with the Solana Saga mobile device.

• Immutable Contract - Once mining dynamics have stabilized, the OreSupply contract will be permanently frozen, meaning that no further changes can be implemented to its code.

The OreSupply team hopes that by implementing these changes, the protocol will be better suited to wider adoption within the Solana ecosystem.

Crypto Community Smug About Global IT Outage, But Does Blockchain Actually Fix This?
A software bug invoked international hysteria when a bug in a Windows content update shut down banks, airlines, and emergency services.

Showcasing the world’s reliance on centralized systems, a global IT outage brought the world to its knees. Across the planet, major service providers like banks, supermarkets, and logistics companies found themselves unable to operate, causing significant disruption.

Eager to prove its relevance, the crypto community was quick to launch a tirade of smug comments. “Crypto fixes this” was heard across social media platforms, with crypto advocates championing blockchain as an obvious solution to singular points of failure.

But is that truly the case? While decentralization aims to eliminate centralized points of failure, would blockchain solutions actually have prevented this widespread technical meltdown?

What Happened?
The chaos began when CrowdStrike, a cybersecurity provider, pushed a defective single content update to Windows hosts. The bug affected millions of Microsoft Windows devices all over the world, causing infinite reboot loops and leaving users staring at Windows’ infamous BSoD (Blue Screen of Death).

Attempting to bring clarity to the situation CrowdStrike CEO George Kurtz, released a statement on 𝕏. Assuring affected users that “this is not a security incident or cyberhack”, the CEO claims that “the issue has been identified, isolated, and a fix has been deployed”.

While Kurtz has indicated that a fix has been deployed, Windows users globally report still being unable to access their devices.

Fortunately, savvy developers were on hand to remedy the situation and provide timely solutions.

Affected users can reboot their Windows devices in Safe Mode and delete the defective update file, or wait until CrowdStrike implemented resolution is distributed.

CRWD stock

In traditional markets, CrowdStrike stock (CRWD) suffered a crippling blow, down 8.82% in today’s trading, based on NASDAQ data. While this might seem insignificant when compared to crypto’s volatility, price movements of this scale are uncommon in traditional markets.

Does Crypto Really Fix This?
The crypto community wasted no time calling out the flaws of centralized systems and singular points of failure. Citing mass outages like today’s as evidence that decentralized systems are the future of infrastructure, crypto advocates were quick to leverage the event as an example of “Bitcoin fixes this”.

However, not all pockets of the crypto community were in agreement. Several blockchain developers and engineers highlighted that in this specific example, pushing bugged code to production would likely have the same effect to blockchain networks.

Despite the specifics and technicalities, the event serves as a powerful reminder of the flaws in centralized services and singular points of failure. Commentators remarked that society’s reliance on centralized companies and infrastructure providers doesn’t bode well for our future.

This belief reinforces the viability of DePin technology, which aims to distribute services across a variety of independent providers and establish more secure and reliable infrastructure. Frank Mathis, founder of GenesysGo, highlights the importance of conducting rigorous security checks before pushing software updates.

Cryptocurrency and blockchain technology may not have been a direct solution to this particular problem. However, global outages like the CrowdStrike defect help to promote discussion around the benefits of decentralization and distributed systems.

Chaos Labs has introduced Jupiter Exchange Risk Monitoring & Alerting platform, which would be providing a comprehensive risk dashboard for all Jupiter Perpetual traders and JLP holders.

Despite red candles across the cryptocurrency markets, some Solana-based tokens held up better than others.

Driven by continued BTC sell pressure from the German government and the looming threat of Mt. Gox claimants liquidating their returns, the crypto markets are seeing red this morning.

Dropping 5.34% in 24HR and 11.45% on a 7D timeframe BTC brought the rest of the market crashing down, dragging SOL down 6.92% on the daily and 13.83% on the weekly.

Amidst the chaos, some Solana ecosystem tokens have reacted to market dynamics better than others. Which assets have shown relative strength in the face of the crash, and which have suffered devastating drawdowns?

📉 The #cryptomonnaies market is suffering, after the chaos brought by #Bitcoin  

The $XRP did not escape the decline and recorded a decline of 50% since the peak in March.

It will be necessary to stay beyond the support at.42. If buyers defend the support, a return to the bearish institutional bias (EMA 9/EMA 18) around.53 is possible.

On the other hand, a loss of support could send the XRP to the next support at.32.

For those hoping for a new ath for XRP, I wish you the best of luck.

In crypto, there will always be winners and losers amongst the chaos.

Those inside The Real World will have an UNFAIR ADVANTAGE.

Our members will win FIRST before anyone else does.

Those on Team TATE always win FIRST.