Markets News Report
November 27, 2023

9GAG Buys ‘memecoin.eth’ Domain for 42 ETH Amid Surging Memecoin Market

In Brief

Social platform 9GAG recently acquired the ‘memecoin.eth’ domain, investing approximately 42 ETH for the strategic purchase.

9GAG Buys 'memecoin.eth' Domain for 42 ETH Amid Surging Memecoin Market

The popular meme community 9GAG, behind Memeland, has recently purchased the ENS domain ‘memecoin.eth’ for approximately 42 ETH. This acquisition comes at a time when Memecoin (MEME), the cryptocurrency of the Memeland ecosystem, is experiencing substantial growth — reaching a market cap of $200 million.

On-chain data shows that 9GAG purchased the ‘memecoin.eth‘ domain name, created four years ago, for 42.069 ETH, significantly increasing its value. Just two days earlier, someone had sold the domain for 4.2069 ETH, demonstrating a tenfold increase in its value.

Memecoin, the digital currency of the Memeland ecosystem by 9GAG, has made a significant impact in the SocialFi and creator economy spaces. Its listing on Binance has further heightened its market presence.

With projections of its value reaching between $0.20 to $0.50 in the medium term, Meme stands as a strong contender in the meme coin market, rivaled by the emerging ApeMax cryptocurrency.

9GAG Buys ‘memecoin.eth’ Domain for 42 ETH Amid Surging Memecoin Market
Source: Opensea

A notable investor, known as GeneralGordon.eth on social media, recently received an airdrop of nearly $8 million USDT worth of MEME tokens, with 20% readily accessible.

Demonstrating faith in Memecoin’s potential, the investor further invested $2 million in MEME tokens via Binance, highlighting the growing investor confidence in this digital currency.

9GAG’s acquisition of ‘memecoin.eth’ signifies a strategic move within the Meme ecosystem, aligning with the token’s growing market cap and investor interest.

As the digital currency market continues to evolve, the performance of Memecoin and its competition with new entrants like ApeMax will be key factors in shaping the future of meme-based cryptocurrencies.

Keep track of cryptocurrency distributions in our Airdrops Calendar.

Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

Nik is an accomplished analyst and writer at Metaverse Post, specializing in delivering cutting-edge insights into the fast-paced world of technology, with a particular emphasis on AI/ML, XR, VR, on-chain analytics, and blockchain development. His articles engage and inform a diverse audience, helping them stay ahead of the technological curve. Possessing a Master's degree in Economics and Management, Nik has a solid grasp of the nuances of the business world and its intersection with emergent technologies.

More articles
Nik Asti
Nik Asti

Nik is an accomplished analyst and writer at Metaverse Post, specializing in delivering cutting-edge insights into the fast-paced world of technology, with a particular emphasis on AI/ML, XR, VR, on-chain analytics, and blockchain development. His articles engage and inform a diverse audience, helping them stay ahead of the technological curve. Possessing a Master's degree in Economics and Management, Nik has a solid grasp of the nuances of the business world and its intersection with emergent technologies.

Hot Stories
Join Our Newsletter.
Latest News

The Calm Before The Solana Storm: What Charts, Whales, And On-Chain Signals Are Saying Now

Solana has demonstrated strong performance, driven by increasing adoption, institutional interest, and key partnerships, while facing potential ...

Know More

Crypto In April 2025: Key Trends, Shifts, And What Comes Next

In April 2025, the crypto space focused on strengthening core infrastructure, with Ethereum preparing for the Pectra ...

Know More
Read More
Read more
MAS Clarifies Regulatory Regime For Digital Token Service Providers, Addressing Industry Concerns
Business News Report Technology
MAS Clarifies Regulatory Regime For Digital Token Service Providers, Addressing Industry Concerns
June 6, 2025
Anthropic Unveils Claude Gov: Specialized AI Models Developed For US National Security Use
News Report Technology
Anthropic Unveils Claude Gov: Specialized AI Models Developed For US National Security Use
June 6, 2025
EigenLayer Rolls Out Redistribution Feature, Allowing AVSs To Repurpose And Distribute Slashed Funds
News Report Technology
EigenLayer Rolls Out Redistribution Feature, Allowing AVSs To Repurpose And Distribute Slashed Funds
June 6, 2025
First Week Of June:  Binance Academy And Solana Spark Global Blockchain Growth
News Report Technology
First Week Of June:  Binance Academy And Solana Spark Global Blockchain Growth
June 6, 2025