Meme Coin News: Tesla Adds DOGE Payments, Whale Buys $10.4M in PEPE

Get your weekly, bite-sized digest of meme coin news.

__________

Meme Coin News: Market Highlights

The global cryptocurrency market cap is $2.47 trillion, down 1.5% in the last 24 hours.

Meme coins are not having a good day, either.

Among the top 10 meme coins per market cap, BONK saw a significant loss of 7% in a day, trading at $0.00002.

Baby Doge Coin (Babydoge) dropped the least, with 2.64%.

At the same time, Dogecoin (DOGE) stands at the top per market capitalization, and its price is down 4.5%  to $0.15661.

Meanwhile, over the past 7 days, Dogecoin has made significant gains. It appreciated by 12.76%.

Dogwifhat (WIF) has increased by 26.5% over the past week, Pepe by 16.6%, Floki is up 10.7%, and Shiba Inu rose 1% in the same period.

Looking at the performance of the top 100 meme coins over the past day, we find BONE as the best performer, having gone up 9%.

Only seven other coins are green today.

Meanwhile, four coins lost between 95% and 99.9%: Kangal, Dogebonk, Wen, and Shib Original Vision.

Tesla’s Updated Payment Methods Include Dogecoin

In the biggest meme coin news this week, Tesla is now accepting DOGE as payment for its products.

The payment page has been updated to include this mega-popular meme coin.

“Look for the Dogecoin symbol next to the “order” button for Dogecoin-eligible products,” the FAQ page says.

To make a purchase on the Tesla Shop, users will need a Dogecoin wallet. The buyer is responsible for any fees associated with a Dogecoin transaction, it added.

#Tesla has updated payment methods to include DOGE$DOGE has moved more than 40% in the last 4 days. Was it an anticipatory move?https://t.co/iZVjNRmtJk pic.twitter.com/aGHYb1VtC2

— Kyledoops (@kyledoops) May 4, 2024

However, there are significant drawbacks to take into account when making purchases.

All Dogecoin purchases are final – the order can’t be canceled, and the items cannot be returned or exchanged for another product or cash.

Dogeverse Presale Hits $13 Million Milestone

Dogeverse is one of the hottest meme coins at the moment. It is the first meme coin operating across six major blockchains.

Notably, it raised nearly $1 million in less than two days after its presale launch in April.

While its presale is still ongoing, the team behind it announced on Thursday that the project raised over $13 million.

🚀 We Did It! $13 Million. 🤯

$DOGEVERSE the first #Doge #Presale spanning #Ethereum, #BNB Chain, #Polygon, #Solana, #Avalanche, and #Base…and it’s showing!

Cosmo is wagging his tail in appreciation, and so are we! 🌍🐕

The #Presale is still ongoing 💥 #MemeCoinSeason pic.twitter.com/GIUWSBCYcH

— DogeVerse (@The_DogeVerse) May 2, 2024

The main idea behind Dogeverse is to create a joint crypto universe for coin holders to trade across different blockchains.

The rising investment suggests investor confidence in the project’s potential and a notable market demand for the token.

Dogeverse’s price will go up with each stage of presale.

The team has plans to list its native token (DOGEVERSE) on different exchanges.

The roadmap also includes plans to offer higher rewards and expand use cases, which could drive demand and increase the token’s value.

Additionally, the team recently launched the official website, promoting “Cosmo, the chain-hopping Doge” as “the heart of Dogeverse.”

🚨 Have you bought and claimed $DOGEVERSE on the #Solana chain yet?! 🤔🔥

You can now buy $DOGEVERSE on any of these 6 chains including #Ethereum, #BNB Chain, #Polygon, #Avalanche, #Base, and #Solana.

Find out more: https://t.co/A1puHpzM32#AltSeason #Cryptocurrencies $DOGE pic.twitter.com/0UDMPqDnBR

— DogeVerse (@The_DogeVerse) May 1, 2024

Whale Withdraws $10.4 Million in PEPE from Binance

In other meme coin news, a whale withdrew 915.85 billion PEPE coins from the Binance exchange on May 5.

This is not their only withdrawal, as in total, this whale has withdrawn 1.238 trillion PEPE via two transactions from Binance.

According to crypto analytics platform Spot On Chain, they’ve done so “at $0.000008424 on average ($10.4M) in the past 28 hours for the first PEPE trade.”

The whale’s overall PEPE accumulating history:

Additionally, this whale had previously gained $146,000 (+14%) from one INJ trade and lost $118,000 (-8%) from one RNDR trade.

They did not hold either token for long, the analysts noted.

Meanwhile, Spot On Chain also highlighted a smart trader commencing their ninth trade, swapping 1.262M USDC for 142.96B PEPE at $0.000008831 on average.

Two of the previous eight trades recorded losses of 12% to 15%, while the rest saw gains between 5% and 132%.

The smart trader realized a cumulative profit of $917,000 (+19.1%) with a win rate of 75%, the analysts said.

The smart trader’s overall PEPE trading history: