Meme Coins: An Unexpected Refuge from a Falling Market?

Same horns towards a possible comeback in May?

You probably haven’t missed the phenomenon: the crypto market is currently in a real crisis and it seems that it is far from ending! Bitcoin is in the real danger zone, but the same coins may not follow suit.

In the coming weeks, investors may not be able to count on the well-known dog coins, but on new tokens. The Fantom ecosystem plans to host its own meme corners and is using this slump to shine.

Michael Kong, CEO of the Fantom Foundation, announced the launch of the $6.5 million fund during an appearance at the MemeGlobal event yesterday. All this money will allow development of new meme coins with 100% fraud free guarantee. Another 10 million will be used to attract the public in the form of airdrops.

Source: Fantom Foundation X account

In order to offer completely secure tokens, Fantom founder Andre Conje ordered the establishment of a control committee as well as the establishment of holding criteria for anyone wishing to create their own meme coin on the network.

To go further: 10 common scams in the cryptocurrency world

All lights are far from green

In a market that leaves something to be desired, any arrival of new potentially profitable tokens seems welcome to investors. The same coins would also be on track for quick resistance as our analyst Ali has already spotted a bullish flag on the Shiba Inu price.

Source: Ali’s X account

It’s not known exactly when the first units of the Fantom will be available, but they could benefit from the phenomenon if they launch before the end of spring. But beware, the ecosystem is not really investor-friendly.

Indeed, A recent Forbes report placed Fantom at the top of “useless” crypto projects. We might therefore be reluctant to turn to him unless new angles of the same kind come along that do not change the situation.

Moral of the story: brand new and beautiful, what do the same corners of Phantom have in store for us?


Disclaimer: In accordance with The Trust Project guidelines, BeInCrypto is committed to providing unbiased and transparent information. This article aims to provide accurate and relevant information. However, readers are encouraged to check the facts for themselves and seek professional advice before making any decisions based on this content.

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