ASTEROID’s extraordinary run changed the conversation. The token, which had been sitting at a market cap of $50,000 until Elon Musk accepted SpaceX’s request for a girl mascot, briefly reached a market cap of $20 million within a few hours, falling by about 40% after posting a weekly gain of 68,428%, according to CoinGecko data.
The questions traders are currently asking are whether ASTEROID can do it and what will happen next. Two tokens have become frequently mentioned in the memecoin community: Amaterasu Omikami (OMIKAMI) and Ryujin (RYU).
In the case of Okami and Ryujin
An expert who has covered OMIKAMI for over three years pointed to ASTEROID’s movements as evidence that the meme coin supercycle is still continuing. His belief is rooted in the long-term longevity of both projects, rather than short-term momentum.
Both tokens have been active for almost two years in what analysts call organic community growth rather than manufactured hype. This ecosystem is said to be connected to Ryoshi, the pseudonymous person behind the Shiba Inu, but that attribution remains unconfirmed and debated in some parts of the community.
OMIKAMI is currently trading at around $0.007112 and has a market cap of $6.73 million. RyuJin has a market capitalization of $0.000000002961 and a market capitalization of $2.85 million. Both tokens are up more than 13%.
asteroid parallel
Analysts directly compared OMIKAMI’s current position to where ASTEROID was located before the moment of the virus. Both had stories. Both had communities. ASTEROID had a single external catalyst that ignited the fuse.
The difference in structure is the nature of the catalyst. ASTEROID was moved by a verifiable two-word reply from one of the most followed celebrities in the world. Expected catalysts for OMIKAMI are expected to come from within the ecosystem itself, with possible new communications from Ryoshi and product announcements related to the planned blockchain and debit card infrastructure the project is developing.
More extensive macro settings
The analyst also said broader market conditions are constructive for memecoin activity. Bitcoin is retesting the breakout level on the 4-hour chart and Ethereum is approaching a key resistance level. Both are approaching movements that historically preceded altcoin and meme coin cycles.
The CLARITY Act, a new Fed chair candidate, and the Stablecoin Yield Act have all been cited as macro catalysts that could broadly inject new liquidity into cryptocurrencies.
