Overview：
As the year-end approaches and the festive season draws near (December 16 to December 22), the cryptocurrency market has experienced a period of volatility and consolidation. This trend is reflected across various sectors, including meme coins, which have also seen fluctuations in price. This week’s Federal Open Market Committee (FOMC) meeting conveyed a hawkish tone, leading to discussions about the Federal Reserve’s rate-cut outlook and its potential implications for the market.
1. Bitcoin Price Hits a New High Before Pulling Back:
On December 17, Bitcoin (BTC) price surged to a record high of $108,341.65. In the following days, the price gradually pulled back and stabilized within the $96,000 range.
2. Federal Reserve Comments Spark Market Volatility:
In a press conference following the Federal Reserve’s monetary policy meeting, Chair Jerome Powell stated that the Fed has no intention of participating in any government plans to stockpile Bitcoin. Powell’s remarks triggered immediate market turbulence, leading to a sharp pullback in Bitcoin’s price from its early-week highs. According to Polymarket, the probability of a U.S. Bitcoin strategic reserve dropped from a peak of 40% on December 18 to 34% after Powell’s speech. The overall cryptocurrency market capitalization also fell sharply, erasing approximately 7.5%.
3. Meme Coin Declines and Market Liquidation:
According to CoinMarketCap data, 8 out of the 10 tokens that dropped more than 50% among the top 500 cryptocurrencies by market capitalization over the past 30 days were meme coins. On December 21, the cryptocurrency market experienced a large-scale liquidation. Meme coins collectively fell by 12%, while the prices of XRP and Dogecoin (DOGE) recorded significant declines. The total liquidation volume on that day reached a three-year high.
MEXC Weekly Coin Spotlight:
Meme Coins with the Highest Price Increase on MEXC in the Last 7 Days:
1. GNON_USDT
Numogram (GNON) Token Price Increase: +213.18%
Description: GNON is a Solana-based meme coin launched on Pumpfun. Blending AI with religious themes, it’s promoted by AI-driven social media accounts as a symbol of nature or fate.
2. FIGHTMAGA_USDT
FIGHT MAGA (FIGHTMAGA) Token Price Increase: +105.90%
Description: FIGHT MAGA is a new cryptocurrency that moves beyond the traditional meme coin model. Positioned as more than a speculative asset, it introduces tools and resources aimed at helping individuals navigate the crypto space. The project also emphasizes fostering a community focused on shared goals of empowerment and financial autonomy.
3. FARTCOIN/USDT
FARTCOIN Price Increase: +19.64%
Description: Fartcoin is a meme coin on the Solana blockchain designed to combine humor, community engagement, and cryptocurrency. Fartcoin uses fart jokes and memes to build an interactive and playful ecosystem. Its unique features, such as a submission-based token distribution model and a “Gas Fee” system with sound effects, set it apart from other meme coins in the blockchain space.
As a decentralized project, Fartcoin also serves as an experimental platform for exploring the boundaries of artificial intelligence (AI). Using a conversational AI framework called Terminal of Truth, the project aims to generate innovative ideas and content while engaging its community in a distinctive way.
4. MONKY_USDT
Wise Monkey (MONKY) Token Price Increase: +8.89%
Description: MONKY is a meme coin inspired by the globally recognized proverb “Three Wise Monkeys”: See No Evil, Hear No Evil, Speak No Evil. With over 11 million search results globally, this widespread cultural recognition supports $MONKY’s mission of fostering a responsible, community-centric approach within Web3.
5. AVAAI_USDT
Ava AI (AVAAI) Token Price Increase: +7.75%
Description: AVA is the first flagship AI Agent launched by Holoworld AI, a platform for creating audiovisual AI Agents through video. Holoworld has worked with over 25 IP/NFT brands to produce more than 10,000 3D virtual avatars, including Anata, Milady, Pudgy Penguins, Mike Shinoda, and L’Oréal. The platform has received support from Polychain, Nascent, and Arthur Hayes, the current VP of Engineering at OpenAI.
Newly Listed Coins on MEXC with the Highest Price Increase in the Last 7 Days:
1. VANA_USDT
VANA Token Price Increase: 1620.70%
Trade VANA and many more trending tokens at MEXC!
Description: Vana (VANA) is an EVM-compatible Layer 1 blockchain that transforms personal data into a tradable financial asset, empowering users to securely monetize their private data through Data DAOs (Decentralized Autonomous Organizations) and innovative proof mechanisms like Proof-of-Contribution. By aggregating and validating data through Data Liquidity Pools (DLPs), Vana enables AI model training while ensuring data privacy and user ownership.
The VANA token underpins the ecosystem, facilitating transactions, staking, and governance. With its focus on creating a new asset class of data tokens, Vana bridges Web2 and Web3, aiming to revolutionize data ownership and the AI economy.
2. OVER_USDT
OVER Token Price Increase: 96.00%
Trade OVER tokens (OVER) at MEXC with the lowest trading fees!
Description: OverProtocol is a Layer 1 blockchain that enables individuals to run full nodes on their personal computers. Through the OverScape app, anyone can participate as a validator without requiring specialized knowledge.
By reducing reliance on institutional validators, OverProtocol creates new financial opportunities and aims to establish a stable, global P2P financial network. Users can validate transactions, propose blocks, and earn native OVER tokens as rewards.
3. MEI_USDT
Mei Solutions (MEI) Token Price Increase: 58.04%
Trade Mei Solutions tokens (MEI) at MEXC. We are your easiest way to crypto!
Description: Mei Solutions (MEI) is a versatile utility token at the heart of an expansive ecosystem designed to enhance user experiences across multiple platforms. Central to this ecosystem is the ability to use MEI tokens to purchase Mei cosmetic products, where users are incentivized with special rewards and exclusive offers, fostering a loyal and engaged customer base.
By integrating MEI into everyday transactions, Mei Solutions not only adds value to the cosmetic purchasing process but also creates a robust rewards system that benefits all participants.
4. IAGO_USDT
IAGO Token Price Increase: 46.7%
Trade IAGO tokens (IAGO) at MEXC. Invite your friends and earn up to 70% in commission fees!
Description: Iago Finance is a decentralized lending platform that allows users to borrow and lend crypto assets. Built on the Sui Network, it offers secure and efficient financial services. Its native token, IAGO, is used for governance and platform rewards.
5. SWAN_USDT
Swan Chain (SWAN) Token Price Increase: 31.82%
Description: SwanChain, initiated in 2021, is the first true decentralized cloud infrastructure tailored for the future of decentralized AI. Utilizing OP superchain technology, it pioneer in merging Web3 with AI by providing comprehensive solutions across storage, computing, bandwidth, and payments.
By tapping into underutilized computing power across a network of community data centers, its integration facilitates a significant reduction in computing costs by up to 70% while enabling the monetization of dormant computing assets. Through innovative marketplaces for decentralized storage, AI, and Zero-Knowledge proofs, alongside the efficiency of LagrangeDAO for AI model deployment, SwanChain makes AI development seamless and affordable.
Risk Disclaimer:
The information provided in this article about cryptocurrencies is for market analysis purposes only and does not represent MEXC’s official stance or investment advice. Given the highly volatile nature of the cryptocurrency market, investors are encouraged to carefully evaluate market fluctuations, project fundamentals, and potential financial risks before making any trading decisions.
Join MEXC and Start Trading Today!
