- TON’s Memelandia provides a dedicated hub for meme coin growth, leveraging Telegram’s massive user base.
- Institutional interest in meme coins is rising, signaling potential momentum in Q4 2024.
After Toncoin faced a new competitor set to explode by 9000%, as reported by CNF, TON has recently launched Memelandia, a decentralized hub aimed at fueling the growth of meme coin communities. This move comes at a time when meme coin activity is rising across multiple blockchain networks, driven by the enthusiasm of crypto investors, often referred to as “degens.”
In addition, Memelandia provides a unique platform for these communities to thrive, compete, and innovate, offering meme tokens a dedicated space for expansion. In a recently published blog article, TON stated,
TON’s strategic position allows it to onboard Telegram’s massive audience into crypto in general and memecoins in particular. Memelandia, therefore, offers a unique space for meme coins to grow, fueled by the creative energy of degens.
Key Platforms for Collaboration and Competition
Memelandia includes several distinct platforms designed to encourage creativity and competition. For example, Launchpad Lair allows token developers to introduce new meme coins, while the Meme Mountain and Cabal Arena host competitive meme battles between communities, creators, and traders.
Other areas like Community Forest and Memecoin Armory focus on fostering growth and providing tools to help meme coins gain visibility. Successful communities are rewarded with incentives such as airdrops, decentralized exchange (DEX) listings, and marketing support, all aimed at propelling meme tokens into the spotlight.
Rising Popularity of Meme Coins Across Networks
Beyond TON, meme coins have already experienced a surge in activity on other networks, including Tron and Solana. Low transaction fees on these platforms have made them an attractive option for crypto traders. This trend gained significant traction when, in August, over 17 million users claimed DOGS tokens on the TON network, pushing single-day transactions to a record 14.4 million, which even caused brief network outages.
According to TON, the integration with Telegram’s user base of over 900 million people has further boosted its popularity, now boasting over 11.8 million monthly active wallets.
Institutional Interest Growing
Adding to the buzz, Su Zhu, co-founder of the now-defunct Three Arrows Capital (3AC), recently noted that institutional investors are showing growing interest in meme coins, signaling a potential shift in Q4 2024.
According to CoinMarketCap, Toncoin (TON) is currently trading at $5.34, having surged by 2.57% in the past day but decreased by 7.41% over the past week.
