The meme coin market is rebounding after the market downturn, with many top meme coins, including WIF, DOGE, TURBO, and MEW, experiencing double-digit growth last week.
As we enter a new meme coin season, investors are turning to the Olympics as a driver for meme coin growth.
Tokens like Solympics have already seen a significant price increase, while others like Meme Games have also posted impressive numbers in their presales.
Olympic values surge 412% amid rug-pulling controversy
Solympics (SOLYMPICS) is an Olympics-themed meme coin on the Solana blockchain. In the past 24 hours, the token has surged 412.75% to $0.003633 per token. The token launch is an exciting event for all holders, giving them the opportunity to instantly earn 4x their investment.
That being said, Olympiad has been quite controversial when it comes to the distribution of its tokens. While the coin was trending on Dexscreener, X (Twitter) user Shrebobo noticed that the token supply was being disproportionately held by a small number of people. This piqued their interest, leading them to speculate that the coin could be subject to a massive sale.
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#Olympic It’s currently trending #2 on Dexscreener, but be aware that it could be pulled down by insiders.
There are plenty of rats holding most of the supply and selling them off to new buyers.
Take care 👊 pic.twitter.com/pQwaM0jOcz
— Shrebobo (@shrebobo) July 22, 2024
Other X (Twitter) users have noted that Solympics’ market cap has soared to over $1.6 million shortly after launch, with the token’s developers buying at least 32 SOL worth of tokens and distributing them across multiple wallets, raising concerns among investors about a rug pull.
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— Reksa199_Callers (@reksa199) July 22, 2024
Crypto Rug Muncher, an anti-scam influencer with over 20,000 followers on Twitter, recently highlighted a coin that had 89% of its tokens targeted as of block 0.
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$SOLYMPICS had 89% of supply targeted in Block 0. https://t.co/qoMrk6jtKr pic.twitter.com/zeWB56oJ6U
— CryptoRugMuncher (@CryptoRugMunch) July 22, 2024
Are Olympic-themed tokens the next big thing?
Most meme coins have little utility, so theming, marketing, and branding are key to their success. For example, cat-themed meme coins like Cat in Dogs World (MEW) have grown significantly in the past week as the cat theme clashed with familiar dogs in the space.
The Olympics are one of the world’s largest scheduled events, with a global audience of over 3 billion people in 2020. This, combined with the recent popularity of the NationFi token, which helps holders express national pride, creates a perfect storm for a high-quality meme coin.
The combination of NationFi and current events is well suited to marketing efforts for meme coins. If an Olympic-themed coin could gain popularity during the Olympics, its value would certainly soar. The Olympics tend to grow naturally and organically, and pure national pride is an excellent motivator for holders to share their experiences.
The long-term potential of these coins is questionable, as the Olympics only take place once every four years, but in the short term there is the potential for big gains, and investors are turning their attention to promising new ICOs to make the most of this.
Meme Games Raises Over $200,000 in First Week of ICO, Attracting Attention
Meme Games (MGMES) is a new Olympics-themed meme coin that is currently in its presale phase. The presale has been going on for a week now, and the token has already raised over $200,000 thanks to the strength of its premise and marketing.
Meme Games allows purchasers to bet on the top meme coins competing in an Olympics-style event. Available contenders include Turbo The Speedster, Doge The OG, Brett The Conqueror, WIF The Trendsetter, and Pepe The Versatile.
The game is fair and easy to play, with each contestant having a 20% chance of winning the event. Every time you purchase MGMES, you can bet on a new contestant and if the contestant you bet on wins the event, you will get 25% of your purchase amount in MGMES.
The token has already caught the attention of some big names in the industry, with Cryptonews and others predicting a bull market with the launch of MGMES’ DEX. It is being sold at $0.00905 per token, which may be the lowest price the token can ever reach.
With just three days left until the next price increase, now is the perfect time to get into the Olympic spirit at MGMES.
Visit Meme Games Presale
