Amid Kanye West Meme Coin Chaos, Safer Meme Index Hits $4M

Meme Index ($MEMEX) is nearing $4 million in presale, drawing traders in search of a safer approach to put money into meme cash.

In the meantime, American rapper Ye (previously generally known as Kanye West) is stirring confusion within the crypto area with the launch of a meme coin – solely to later deny any involvement. Regardless of this, the scenario has already raised issues that it could possibly be one more rug pull.

Investor frustration is mounting as high-profile figures proceed to take advantage of their affect for fast income, casting doubt on the legitimacy of the meme coin sector.

The Meme Index safeguards in opposition to such scams by diversifying danger throughout a broad basket of tokens whereas permitting traders to decide on which meme cash to incorporate of their index.

Entry to those indexes is unique to $MEMEX holders, whose numbers are rising as traders rush to purchase on the present presale worth of $0.0164896 earlier than the next worth enhance in lower than 17 hours.

Rapper Ye Creates Media Circus Over Doable Meme Coin Launch

Since final week, the controversial rapper Ye has claimed he plans to launch a token known as YZY, named after his clothes model Yeezy.

Nonetheless, the rollout has been chaotic, with erratic X posts involving Binance CEO CZ, a string of racist remarks, and even a self-proclaimed Nazi stance. At one level, Ye even teased launching “Swasticoin.” 

He later claimed he not managed his Twitter account and deleted earlier posts about launching a meme coin altogether.

The whole spectacle has became a media circus, with hypothesis over whether or not Ye will really launch a token. This uncertainty even sparked a Polymarket wager, the place 40% of the $22 million quantity is wagering that he’ll launch a coin this month.

Will Kanye launch a coin in February?

If Ye does launch his personal token, he will probably be getting into a market already flooded with celebrities who’ve leveraged their fame for fast crypto income – most of which expertise short-lived worth spikes earlier than crashing.

Studies counsel that Ye plans to imitate $TRUMP’s tokenomics, aiming to retain 80% management of the availability – a setup many traders already see as a rug pull within the making. Nonetheless, some merchants are hoping to “get in early” and money out shortly, as summed up by a hilarious meme circulating on Reddit.

Everybody once they heard concerning the Kanye West meme coin : r/solana

But, for a lot of – particularly these burned by Argentina President Javier Milei’s rip-off token, Libra ($LIBRA) – Ye’s potential launch appears like one more celebrity-backed money seize that may go away a long-lasting stain in the marketplace.

Meme Index Brings Sanity To The Wild West World Of Meme Cash

For meme cash to regain a $100 billion market cap, the business should curb shameless cash grabs by high-profile figures.

The unregulated nature of meme coin launches permits anybody to create a token with out authorized penalties. Nonetheless, the sector dangers self-destruction as greed fuels a continuing chase for the “subsequent massive factor.”

The Meme Index supplies a safer different for these in search of publicity to meme belongings. By investing in indexes, capital is unfold throughout a number of meme cash, producing returns primarily based on their collective efficiency.

There are 4 index choices, every providing various ranges of volatility:

• Meme Titan Index – The least risky, that includes high meme cash like Dogecoin ($DOGE), Shiba Inu ($SHIB), and Pepe ($PEPE), all valued at over $1 billion.
• Moonshot Index – Contains tokens valued between $250 million and $1 billion, with the potential to interrupt into the highest 10 meme cash.
• Midcap Index – A better-risk choice with tokens starting from $50 million to $250 million in market cap, providing important upside potential.
• Meme Frenzy – Essentially the most speculative index, that includes new and extremely risky tokens valued at below $50 million. Whereas it presents the prospect for optimum positive factors, it additionally carries the chance of steep losses.

By offering structured publicity to meme cash, Meme Index helps traders navigate the sector with much less danger whereas nonetheless capitalizing on its explosive development potential.

Bitwise CIO Says Index Investing Is The Future

Final week, Bitwise CIO Matt Hougan expressed that index-based investing is how the crypto ETF business will obtain even larger development than what it experiences now, which is presumably a step nearer to a meme coin index ETF within the close to future.

A meme coin index ETF might be a extra logical step if the intention is to generate rather more steady returns in the long term than particular person meme coin belongings.

And who is aware of? The Meme Index has already established fairly a great array of meme coin belongings in its indexes, which may make it a helpful mannequin for structuring a meme coin sector ETF.

However whereas that has not come to fruition but and is presumably nonetheless years away, one factor crypto traders can wager on is that the Meme Index will probably be launching quickly.

To entry the abovementioned indexes, they’ll maintain $MEMEX tokens, that are at present obtainable within the ongoing presale.

Right here’s How To Purchase $MEMEX In Presale

Go to the Meme Index web site, join your pockets (e.g. Finest Pockets), and buy $MEMEX utilizing USDT, ETH, BNB, or perhaps a financial institution card.

With every $MEMEX token, customers can affect which tokens are included in every index and even suggest new indexes for the group to put money into.

The Meme Index platform has been audited by respected companies like Coinsult and SolidProof, which provides traders peace of thoughts concerning the safety of its sensible contracts.

Be a part of the Meme Index’s rising group and be part of the dialogue on their Telegram and X accounts.

Study extra concerning the Meme Index.