Original author: 0x9999in1
Original source: MetaEra
In the Web3 world, the reason why Meme coin can become a unique track is inseparable from its unique cultural background. The rapid price fluctuations are enough to attract the attention of many investors, and it is easy to generate FOMO emotions in the community. At the same time, high-frequency and small-amount transactions can also bring good returns to platforms that provide Meme Coin transactions. For example, the popular Meme coin trading platform Pump.fun has earned at least $900,000 a day in the past 12 days, setting a new record, and clearly declaring that the Meme coin track in 2024 has become increasingly hot, but the Pump.fun platform is more like a trading platform for core players and professional players. So is there a Meme coin trading platform for novice players and light players? Moonshot may be the best answer at the moment.
Why Moonshot is rising: Simplifying transactions is its core advantage
Moonshot was officially launched on July 18, 2023. This application based on the Solana blockchain aims to simplify the transaction process of Meme coins and lower the threshold for ordinary users to enter the cryptocurrency market. Moonshots core competitiveness lies in its deep understanding and accurate grasp of the Meme coin market, as well as the convenient fiat currency deposit channels it provides, such as Apple Pay, credit cards, PayPal and other payment methods, so that users can easily convert from fiat currency to cryptocurrency. This fiat currency deposit function greatly shortens the users operation process from fiat currency to cryptocurrency. Simplicity and ease of use are the key to Moonshots attraction of a large number of new users.
In addition, Moonshots simple registration process does not require the management of complex private keys or mnemonics, allowing even blockchain novices to quickly get started. Not only is depositing money very convenient, but withdrawals are also smooth. After trading profitably, users can quickly withdraw money through MoonPay. Moonshot supports converting assets into fiat currency and returning them to the users bank account. The entire withdrawal process is extremely convenient, and users do not need to worry about complicated review processes, and withdrawals can usually be completed within a few minutes.
Moonshot’s Market Position: The short-term surge in the meme coin attracted a large number of followers
Moonshot has achieved significant growth in just a few months. The Dune dashboard shows that since September, Moonshots daily fee income peaked at $32,978, with a maximum of 4,856 users trading on a single day, and the trading volume has not yet been disclosed. This growth is not only due to the platforms keen capture of market hotspots, but also because it simplifies the users trading experience.
The platforms coin listing is completely selected and executed by the team, and only tokens with a 24-hour trading volume of 1 million US dollars will be taken into consideration. By timely listing popular Meme coins such as MOODENG and GOAT, and relying on strict selection of high-quality Meme coins, Moonshot has successfully attracted a large number of users. Moonshots coin listing effect has indeed brought significant price increases to some tokens in the short term. Although this effect is often short-lived, it is enough to prove the importance of Moonshot in the Meme coin market.
The future of Moonshot: platform diversification and regulatory challenges coexist
Judging from the current development of Moonshot, it has quickly gained the first batch of die-hard fans through the minimalist purchasing experience and the wealth effect brought by strictly selecting high-quality Memes. However, the Meme coin track is not a seemingly evergreen track. If Moonshot wants to occupy a certain share in the future market, it still needs to do a lot to cope with the pressure from other competitors. For example, Moonshot needs to continue to work hard to introduce more innovative asset classes, such as NFT and GameFi tokens, to increase the diversity and attractiveness of the platform. In addition, with the instability of the Meme coin market itself, Moonshot also needs to pay more attention to risk management to help users understand and avoid investment risks.
Although Moonshot has simplified the deposit and withdrawal process and difficulty for the convenience of users, as the scale grows, the potential regulatory issues hidden behind it will become increasingly prominent. Moonshot needs to ensure that its operations comply with local laws and regulations, especially in the face of the EUs strict requirements for KYC certification in crypto transactions. Moonshot needs to make better responses and come up with a solution that has the best of both worlds.
Summarize
The simple and crude wealth-creating effect has brought more traffic and liquidity to Moonshot, which is understandable. For traders in the current market, having another Meme coin trading platform is a good thing. But at present, Moonshots user stickiness is not enough, and it is easy to change platforms after experiencing it. How Moonshot can retain its popularity for as long as possible under the premise of easy acquisition of customers has become the top priority for it to think about next. In addition, Moonshots product strength is its most confident backing. We look forward to its continued polishing of the product experience in the future, so that novices can feel the passion brought by Meme fluctuations in the operation mode of Web2 products.
