Sandbox reveals that it bought a lot of meme coins

The Sandbox's Memecoin Power Play

Known for supporting digital artists and creators, The Sandbox recently made waves in the memecoin market. They announced their position as major holders of several prominent meme coins: PEPE, SHIB, MEME, DEGEN, DOGE, and BONK.

This move aims to amplify the communities that these coins represent and enhance The Sandbox's influence in the Web3 space.

The diversity of the selected memecoins reflects The Sandbox's commitment to inclusivity and unity within its platform's ecosystem.

Upcoming Initiatives with Memecoin Portfolio

The Sandbox intends to introduce initiatives leveraging its memecoin portfolio, offering additional value to platform users and the wider memecoin community.

Market Movements of Meme Coins

After the meme stock frenzy and Solana hype, meme coins have recently experienced a decline.

• DOGE: Currently trading at $0.12, DOGE has dropped slightly by 0.2% within the hour but has gained 2.2% in the past 24 hours. Over the past week, it has fallen by 10.7%.
• SHIB: SHIB has decreased by 0.9% in the last hour but has risen by 1.8% over the past 24 hours. Its market cap stands at $10.9 billion, with a 24-hour trading volume of $423 million.
• PEPE: Pepe has also dropped by 0.9% within the hour, but it has performed well in the past 24 hours (7.8%) and past week (12.7%).
• BONK: Listed at $0.00002175, BONK has declined by 1.2% in the last hour but gained 2.5% over the past 24 hours and 24.4% over the past week.
• DEGEN: DEGEN has jumped by an impressive 23.1%. Despite its modest market cap of $126 million, it has a notably higher fully diluted valuation.
• MEME: MEME has seen a muted price change, rising by just 0.2%. Its market cap is $364 million, with a 24-hour trading volume of over $43 million, indicating liquidity and active trading.

Source: CoinGecko

The Sandbox's embrace of meme coins is a strategic move that aligns with its commitment to community engagement and innovation in the Web3 landscape.