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There are three certainties in crypto life.
Hacks, taxes and memecoins tied to each mildly attention-grabbing facet of popular culture.
So, with social media enjoooyers within the US making ready for a possible life with out TikTok, it’s no shock that there’s already a memecoin.
The Supreme Courtroom is at the moment mulling a bipartisan invoice handed final yr that may drive TikTok’s proprietor — the Chinese language tech large ByteDance — to promote the app to a US firm by Jan. 19, citing nationwide safety issues round affect and spying.
It was initially thought {that a} ban would largely profit Meta and Google. Within the meantime although, so-called “TikTok refugees” have flooded Xiaohongshu, or RedNote, a Chinese language app just like Instagram and backed by Tencent and Alibaba.
On RedNote (and various 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 by way of pump.enjoyable means again in October — has gone 160x previously three days.
MOMO remains to be tiny, with a market cap below $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 achieved about 295x since its October launch, about two weeks after MOMO.
For what it’s price, I poked round RedNote and didn’t discover a lot crypto content material past bitcoin and main memecoins like shiba inu (and plenty of pepe).
That clearly makes the app fertile floor for the US’s fastest-growing digital export: onchain degeneracy. They merely gained’t know what hit ‘em.
