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There are three certainties in crypto life.
Hacks, taxes and memecoins tied to each mildly fascinating facet of popular culture.
So, with social media enjoooyers within the US getting ready for a possible life with out TikTok, it’s no shock that there’s already a memecoin.
The Supreme Courtroom is at present mulling a bipartisan invoice handed final yr that may pressure TikTok’s proprietor — the Chinese language tech big ByteDance — to promote the app to a US firm by Jan. 19, citing nationwide safety considerations round affect and spying.
It was initially thought {that a} ban would principally profit Meta and Google. Within the meantime although, so-called “TikTok refugees” have flooded Xiaohongshu, or RedNote, a Chinese language app much like Instagram and backed by Tencent and Alibaba.
On RedNote (and a variety of different native apps), the place there’s strict content material moderation and censorship, the default username has been “momo.”
Youthful Chinese language netizens ultimately adopted the moniker, together with a cute pink dinosaur mascot, after discovering they may put up extra freely with out utilizing their actual names on-line.
No shock then that Solana memecoin MOMO — initially launched through pump.enjoyable method again in October — has gone 160x up to now three days.
MOMO continues to be tiny, with a market cap underneath $5 million, and it took lower than $40 million in quantity to drive it to its new valuation.
Nonetheless, it’s sufficient for MOMO to have now returned about half that of main AI agent coin AI16Z. AI16Z has performed about 295x since its October launch, about two weeks after MOMO.
For what it’s value, I poked round RedNote and didn’t discover a lot crypto content material past bitcoin and main memecoins like shiba inu (and many pepe).
That clearly makes the app fertile floor for the US’s fastest-growing digital export: onchain degeneracy. They merely received’t know what hit ‘em.
