The Next Big Cryptocurrency

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Today is Thursday, August 12, 2021

The Next Big Cryptocurrency After Dogecoin

As the price of Dogecoin shoots up, investors are searching for the next meme cryptocurrency that will emerge from obscurity to become a goldmine.

BabyDoge: BabyDoge, which was spawned by fans of Dogecoin, is described as a hyper-deflationary coin. Each BabyDoge is worth a fraction of a penny and is up in price since launching in June.

Chiliz: This is a sports tokenization currency. It’s hovering about 25 cents per token during the past few months. It is also worth more than 20 times its value in the past year.

Pepe Cash: This currency, based on Pepe the frog, peaked at around 10 cents in 2018, but it is starting to increase in value over the last month

Sad Cat Token: Sad Cat Token is another meme coin, but this anonymously funded token is for cat lovers. After peaking in May, it is now worth a fraction of a penny.

Final Thoughts: Do your research if you decide to jump on the bandwagon for some of these meme coins. After all, these aren’t the best coins.


Notable Earnings Today: Walt Disney (NYSE: DIS), Palantir (NYSE: PLTR), Airbnb (Nasdaq: ABNB), SOFI (Nasdaq: SOFI), Luminar Technologies (Nasdaq: LAZR), Baidi (Nasdaq: BIDU), Canadian Solar (Nasdaq: CSIQ).

Notable IPOs Today: Finewise Bancorp (NASDAQ: FINW), Southern States Bancshares (Nasdaq: SSBK).

Notable Equity Crowdfunding Campaigns Ending Today: SkillSoniq (StartEngine), Fund the First (Republic), Harlan County Beer Company (Wefunder).

Notable Economic Events Today: Producer Price Index (8:30 a.m.), Jobless Claims (8:30 a.m.).

Air Taxi Joby Soars High on IPO Day

Electric air taxi Joby Aviation went public Wednesday through a SPAC merger with Reinvent Technology Partners.

Data: Joby starting trading at $10.62 per share before jumping more than 40% and finishing the day at $13.40.

The Good: In February, Joby said that it was generating revenue and it received a G-1 certification from the Federal Aviation Administration.

The Bad: Joby and its competitors face some headwinds in the form of regulations since the FAA has not officially allowed this type of business to fully operate as intended. The company also faces the challenge of convincing people to accept this new form of transportation.

Final Thoughts: Joby is trying to establish itself in the air taxi space before officially offering flights by the intended launch of 2024. Until then, the company will burn through a lot of cash.

Moderna Stock Hit With EU Report

Shares of Moderna (Nasdaq: MRNA) were down over 15% Wednesday after the European Union said it was investigating possible side effects from the mRNA vaccines.

Cases: While the total number of cases linked to side effects was not reported, there were a “small number of cases” listed, according to the report.

Competitors: Shares of BioNTech (Nasdaq: BNTX) was down 13.76% from the news. Shares of Pfizer (NYSE: PFE) were down less than 4%.

Bigger Picture: Wednesday was the worst day for Moderna’s stock since May.

Final Thoughts: Moderna, which closed at a record high Monday, is still up more than 200% this year.

Trends to Watch

Another EV Company: Chinese Electric-Vehicle Maker Aiways Explores 2021 U.S. IPO (Bloomberg / Yahoo!)

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