Coin Edition -
- The Sandbox buys PEPE, SHIB, MEME, DEGEN, DOGE, and BONK to boost Web3 culture.
- SHIB and DOGE are top market leaders among Sandbox’s new memecoins.
- Top 7 meme coins show short-term growth but remain bearish for the week.
The Sandbox, a popular blockchain-based metaverse platform, has expanded its cryptocurrency holdings with a strategic acquisition of several prominent meme coins, including PEPE, SHIB, MEME, DEGEN, DOGE, and BONK.
This action is intended to support communities, increase presence in Web3 culture, and provide more utility to its members and the larger memecoin community.
According to CoinMarketCap data, SHIB and DOGE are the top leaders in terms of market cap among the purchased memecoins, and DEGEN is the only one not ranked in the top 15 biggest meme tokens. With its investment in these memecoins, The Sandbox demonstrates its commitment to diversity and engagement among the users of its platform.
The Sandbox has also explained how it intends to use its memecoin collection going forward to launch interesting projects.
Meanwhile, within the last 24 hours, the top seven meme coins have seen price increases. CoinMarketCap data show that PEPE has increased by 11.14%, following BRETT, which has increased by an astounding 18.56%.
It is noteworthy, however, that during the last week, all of these memecoins have been experiencing a bearish trend overall, despite this brief increase. This aligns with an earlier Coin Edition report that highlighted the recent decline in the market as a whole.
The six memecoins that The Sandbox bought represent a diverse environment that best captures the company’s commitment to unity and inclusivity.
The Sandbox’s proactive strategy in incorporating various memecoin communities will probably increase user engagement and stimulate further creativity within the platform as it keeps growing in the Web3 arena.
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