meme coin

Racist meme coins proliferate, here’s how

Published

2 months ago

February 23, 2025

The cryptocurrency sector is a breeding ground for viral, community-driven projects, but the rise of racist meme coins has ignited debates about the limits of decentralization.

This issue is gaining renewed attention after rapper Kanye West, who now goes by “Ye,” announced plans to launch a so-called “Swasticoin” in a series of controversial social media posts.

West’s statements, which included antisemitic remarks about the Jewish community, mark a shift from his previous criticism of celebrity-backed coins that “prey” on fans.

On Saturday, West seemingly changed his mind.

“I’m going to open the CA [contract address] for my Swasticoin to Jewish people and my friends and family first,” he wrote. Alongside this announcement, the “Jesus Walks” singer appeared to seek guidance on blockchain networks like Ethereum, Solana and BNB Chain, while also attempting to contact Binance co-founder Changpeng “CZ” Zhao.

The posts sparked backlash, but they also highlighted a broader issue: the increasing number of meme coins promoting extremist ideology.

A troubling trend

Ye’s proposed token is not an isolated case. Over the past year, a wave of racist and offensive tokens have launched, prompting discussions about whether decentralized platforms should implement content moderation.

Some of these tokens used racial slurs or Nazi imagery in their branding, attempting to gain traction in online extremist communities.

“Hitler Musk,” for example, appeared on Pump.fun about a month ago after X owner Elon Musk, while speaking at President Donald Trump’s inauguration event, did a straight-a rm salute twice (observers interpreted it as a reference to Nazi-fascism).

Before that, in 2021, a token named “HITLER” briefly surfaced before being delisted from exchanges. Another coin, “Groyper,” has been linked to far-right online communities.

Despite the fleeting nature of these projects, their presence underscores how blockchain technology—while open and permissionless—can be exploited to spread harmful ideologies.

Who’s addressing the issue?

As racist meme coins proliferate, some in the crypto industry are taking steps to curb their spread. The Solana Foundation has acknowledged the problem, with Austin Federa, the foundation’s head of strategy, suggesting that in-app filtering could be a potential solution.

This would allow wallet apps and decentralized exchanges to screen out tokens with offensive names or imagery. However, implementing such measures in a decentralized system remains a challenge.

Ethereum co-founder Vitalik Buterin has also criticized the rise of meme coins associated with dictatorships and racist themes, calling for higher-quality projects in the crypto space.

Last March, Buterin expressed concern over the growing number of speculative assets that provide little value beyond short-term hype. He specifically pointed to Solana-based meme coins that he described as “openly super-racist” and condemned tokens linked to totalitarian regimes.

Buterin emphasized that he has “zero enthusiasm” for projects driven by scams, rugpulls, or fleeting excitement that ultimately disappoints investors.

But, in today’s day and age, where anyone can launch a token with meme coin generators (i.e., Pump.fun) without oversight. As a result, the problem persists.

What’s Next?

According to Coindesk, West’s planned token—possibly named “YZY” rather than “Swasticoin”—is intended as a workaround for Shopify’s restrictions on his Yeezy store. Reports suggest he plans to keep 70% of the token’s supply for himself, further fueling speculation that this is more about financial gain than ideology.

This would align with Ye’s previous attempts to monetize Nazi imagery, including selling T-shirts labeled “HH-01” (widely interpreted as shorthand for “Heil Hitler”), which were removed after a Super Bowl ad directed traffic to his website.

Despite Ye’s claim that the token will launch next week, it remains unclear if the project will materialize—or if it is another instance of inflammatory rhetoric designed to provoke outrage. His latest post simply read: “Time to launch my own blockchain,” leaving his actual crypto ambitions uncertain.

West was reportedly inspired by Official Trump (TRUMP), the meme coin President Trump launched two days before his second inauguration. It’s currently down 78% from its all-time high.

Trump raised eyebrows for his similarly massive insider-ownership distribution: 80% of TRUMP is currently held by CIC Digital, a business entity with ties to the president.

Ye, too, wanted an 80% ownership stake but was negotiated down to 70%, CoinDesk. Should his token achieve even a fraction of TRUMP’s success, his stake could still be worth many millions of dollars.

What is certain, however, is that racist meme coins continue to test the boundaries of crypto’s “wild-west” nature while industry leaders grapple with how to moderate offensive content.

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Markets

Popcat price surges as exchange reserves fall, profit leaders hold

Published

5 days ago

April 13, 2025

admin

Popcat, a top Solana meme coin, has staged a strong comeback as investors bought the dip and exchange reserves dropped.

Popcat (POPCAT) rose for four consecutive days, reaching a high of $0.25, its highest level since March 25. It has jumped by almos 100% from its lowest level this month.

The jump happened as crypto investors bought the dip in some specific Solana (SOL) meme coins like Fartcoin (FARTCOIN), Goatseus Maximus, Fartboy, and Vine.

Nansen data shows that more investors are moving their Popcat tokens from exchanges to self-custody. Exchange balances have dropped by almost 10% in the last seven days to 239.5 million, down from 262 million the same day last week. Most of these outflows were from Bybit, Raydium, and Coinbase.

The weekly supply of Popcat tokens on exchanges dropped by 2.3% to 24%. Falling exchange reserves is a bullish sign, signaling that more investors are taking a long-term view of the coin and are not dumping their tokens.

More data shows that the most profitable Popcat traders in the last seven days are not selling. The top trader has made a profit of $173,000 and still holds 97% of his position. The chart below shows that many of these traders still hold their tokens.

Popcat price analysis

The daily chart shows that the Popcat price has bounced back in the past few days. This rebound happened after the token formed a falling wedge pattern, which is shown in blue. This pattern is made up of two descending and converging trendlines.

The Popcat token has moved slightly above the 50-day moving average, while the Relative Strength Index and other oscillators have pointed upward.

Therefore, the coin will likely keep rising as bulls target the 23.6% retracement level at $0.5982, up 142% from the current level.

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meme coin

Fartcoin price surges 35% as recovery gains momentum

Published

2 weeks ago

April 1, 2025

admin

Fartcoin has jumped 35% in the past 24 hours, reinforcing its ongoing recovery after months of consolidation.

Fartcoin (FARTCOIN) is up 35% in the past 24 hours, currently trading at $0.52 with trading volume at $164 million. The surge is noteworthy as it indicates a strengthening recovery from the prolonged consolidation phase which ensued after the price crashed from its all-time of $2.48 high on Jan, 19.

The FARTCOIN price started rebounding from the $0.20–$0.30 range, where it has been consolidating from February to mid-March 2025, around March 19, when the price surged over 30% from $0.297318 to $0.395195.

During this consolidation period, trading volume was relatively stable, suggesting sellers had exhausted their momentum and accumulation was underway. March 24 marked the turning point, as FARTCOIN surged past $0.60, signaling the start of a breakout.

Fartcoin price surges 35% as recovery gains momentum - 1 — Source: Trading View

However, after briefly surpassing $0.60 on March 24, the price bottomed out around $0.40–$0.45. Buyers then stepped in, driving a steady climb with rising volume, culminating in today’s surge to $0.53. Relative Strength Index is currently at 59.26, approaching bullish territory but not yet overbought. Moving Average Convergence Indicator also supports that momentum is on the bulls’ side, with the MACD line (0.03618) above the Signal Line (0.02951).

With this breakout, FARTCOIN is now approaching local resistance levels around $0.60–$0.70. A sustained push above these levels could confirm a full trend reversal, with the price potentially testing the major resistance at around $1.20 – $1.30, the level established when the price tried to recover after the crash from ATH in January.

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doge

Dogecoin (DOGE) Bulls In Trouble—Can They Prevent a Drop Below $0.15?

Published

3 weeks ago

March 31, 2025

admin

Dogecoin started a fresh decline from the $0.1880 zone against the US Dollar. DOGE is declining and might test the $0.150 support zone.

DOGE price started a fresh decline below the $0.1850 and $0.1750 levels.
The price is trading below the $0.1750 level and the 100-hourly simple moving average.
There is a key bearish trend line forming with resistance at $0.170 on the hourly chart of the DOGE/USD pair (data source from Kraken).
The price could extend losses if it breaks the $0.1620 support zone.

Dogecoin Price Dips Further

Dogecoin price started a fresh decline after it failed to clear $0.200, like Bitcoin and Ethereum. DOGE dipped below the $0.1880 and $0.1820 support levels.

The bears were able to push the price below the $0.1750 support level. It even traded close to the $0.1620 support. A low was formed at $0.1628 and the price is now consolidating losses below the 23.6% Fib retracement level of the downward move from the $0.2057 swing high to the $0.1628 low.

Dogecoin price is now trading below the $0.1750 level and the 100-hourly simple moving average. Immediate resistance on the upside is near the $0.170 level. There is also a key bearish trend line forming with resistance at $0.170 on the hourly chart of the DOGE/USD pair.

The first major resistance for the bulls could be near the $0.1730 level. The next major resistance is near the $0.1770 level. A close above the $0.1770 resistance might send the price toward the $0.1850 resistance.

The 50% Fib retracement level of the downward move from the $0.2057 swing high to the $0.1628 low is also near the $0.1850 zone. Any more gains might send the price toward the $0.1880 level. The next major stop for the bulls might be $0.1950.

More Losses In DOGE?

If DOGE’s price fails to climb above the $0.1770 level, it could start another decline. Initial support on the downside is near the $0.1635 level. The next major support is near the $0.1620 level.

The main support sits at $0.1550. If there is a downside break below the $0.1550 support, the price could decline further. In the stated case, the price might decline toward the $0.1320 level or even $0.120 in the near term.

Technical Indicators

Hourly MACD – The MACD for DOGE/USD is now gaining momentum in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for DOGE/USD is now below the 50 level.

Major Support Levels – $0.1620 and $0.1550.

Major Resistance Levels – $0.1720 and $0.1770.

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