Sandbox reveals that it bought a lot of meme coins

Sandbox reveals that it bought a lot of meme coins
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In this post:

  • Sandbox invested in major memecoins like PEPE, SHIB, and DOGE to boost community support and expand its Web3 influence.
  • Memecoins have shown volatility with mixed performance; DOGE remains modest while others like DEGEN see surges.
  • Active trading continues despite market fluctuations, with hyper community engagement in these coins.

Known for its solid backing of virtual artists and creatives, the Sandbox just threw a serious punch into the memecoin market. They revealed that they’re now big-time holders of some of the flashiest meme coins of this cycle—PEPE, SHIB, MEME, DEGEN, DOGE, and BONK. The mission? To boost the very communities these coins come from and beef up Sandbox’s own influence in Web3.

The varied landscape represented by the six memecoins above exemplifies our dedication to fostering inclusivity and unity within our platform’s community.

The Sandbox

The company plans to launch new initiatives using its memecoin portfolio, which will provide added utility to both its platform users and the broader memecoin community.

Meme coins tumble

Coming off of the meme stock mania and Solana hype, meme coins have plunged recently. Currently priced at $0.12, DOGE has seen a slight decrease of 0.2% in the last hour but has increased by 2.2% over the last 24 hours. Over the past week, DOGE has plunged by 10.7%. Its market capitalization is around $18 billion, supported by a relatively high trading volume of $962 million in the last 24 hours.

Source: CoinGecko

SHIB decreased by 0.9% in the last hour but increased by 1.8% over the past 24 hours. Its market cap is around $10.9 billion, and its 24-hour trading volume is $423 million. PEPE has also decreased by 0.9% in the last hour but has gained 7.8% in the last 24 hours and 12.7%. The meme coin is the best monthly performer, with a market cap of nearly $4.9 billion and a 24-hour trading volume of $950 million.

Related: The Complete Guide to Understanding Meme Coins

Bonk is listed at $0.00002175, showing a decrease of 1.2% in the last hour but an increase of 2.5% in the last 24 hours. Its market cap is approximately $1.44 billion with a 24-hour trading volume of $294 million.

DEGEN has seen a massive increase of 23.1%. Its market cap is relatively modest at around $126 million, yet it has a considerably higher fully diluted valuation. The trading volume of approximately $37 million emphasizes active trading activity.

MEME shows a subdued price change, up by merely 0.2%, with a market cap of $364 million. Its trading volume over the past 24 hours was over $43 million, suggesting liquidity and active engagement despite the smaller price movement.

Jai Hamid

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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