Elon Musk has added the dogecoin logo to his official Twitter… erm, X profile, causing fanboys to spontaneously combust in the street. Meanwhile, random tokens with even the most tenuous of links to the letter X have been targeted by crypto bros and meme traders out to make a quick buck.

Stablecoin usage has migrated outside of Ethereum due to the high transaction fees triggered by meme-coin hype. In light of this, the second-tier blockchains are now getting increased traction.

Tron’s Justin Sun and Cardano’s Charles Hoskinson use their projects’ communities to profit from meme-coin season in crypto. The head of Binance, Chanpeng Zhao, does not seem to mind the additional business either.

The crypto industry has lost over $100 million due to scams and hacks. Apart from that, exploiting the recent popularity of meme-coins, someone single-handedly created 114 scam meme tokens.

A newly-created token named after the ‘Pepe the Frog’ meme has recently taken the meme-coin crown, hitting a market cap of half a billion dollars within two weeks of launch.