Since analysts and influencers alike prematurely wrote ETH’s obituary, it’s up nearly 30% from $3080 on Monday to $3750 as of today. With the resurgence of Ethereum, we are seeing volume returning to both utility projects and meme coins on both Ethereum and its associated Layer-2 chains. One Layer-2 in particular that has seen significant volume returning is Polygon (MATIC). Daily volume on Matic has doubled from just 4 days ago, from $43 million on Sunday to $91 million today, with a particular token gaining traction. Midnight ($NIGHT) is a dog-themed meme coin named after Polygon CEO Marc Boiron’s German Shepherd dog. Meanwhile, a Solana presale has been gathering attention as it races toward the finish line.
Polygon CEO Publicly Endorses The NIGHT Token
Night was launched on May 20 and instantly pumped over 70x before the typical sell-off when early buyers begin taking profits. Volume within the first 24 hours reached just shy of $1 million as ‘Matic Maxis’ flocked to buy what they hope will be the next meme mascot for Polygon. This case was further strengthened when Marc Boiron, Polygon CEO and owner of the German Shepherd ‘Midnight,’ changed his profile picture on X to the NIGHT token logo. Alongside the profile picture change, he also hinted in a post that he may buy a bag of NIGHT tokens in the near future.
Switched my pfp to match the @nightpolygon memecoin. Why?
Because it is cool to see my dog Midnight as a memecoin. He’s a big, cute goofball.
I have not bought $NIGHT. I may buy $NIGHT at some point for fun but might not.
If I buy it, then it’ll be without any diligence… pic.twitter.com/YOdb5sjjHI
— Marc Boiron (@0xMarcB) May 21, 2024
The post by Marc was followed by a pump of over 2x, rising from around $0.0004 to $0.0009 as investors began scrambling to buy NIGHT after what they deemed was an endorsement from the CEO of a prominent Ethereum Layer-2 chain. CEO/Founder pet meme coins have a good track record. MYRO on Solana is named after Solana co-founder Raj Gokal’s dog, and TOSHI is named after Coinbase CEO Brian Armstrong’s cat. MYRO has a current market cap of $205 million whilst TOSHI sits at $139 million.
Investors of NIGHT are hoping that it could be their version of these tokens for Polygon. The market cap of NIGHT is $6.6 million currently, processing over $1.2 million in volume during the past 24 hours.
SEALANA Presale Nears $2.5 Million Raised And Keeps Going
The Sealana presale ($SEAL) has raised over $2.3 million in just a few weeks as investors eagerly search for the next Slothana. Slothana ($SLOTH) raised over $15 million during the presale, and both presale investors and early buyers of the token have seen gains of over 800% at its peak price of $0.06 and are even now up over 300% at its current price of $0.039.
Sealana will launch on Solana at an undisclosed date, but until then, the presale is still ongoing. Users can purchase SEAL with ETH, SOL, BNB, USDT, or even a credit card. The team has announced that once the presale ends, participants will automatically be airdropped their SEAL allocation directly into the wallet provided.
EXPLORE: Ethereum Price Explodes After Major ETH ETF Mood Swing
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
