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Deep Dive Into $BLUB: Leading Sui Ecosystem Meme Coin Project
Today, we’ll take a closer look at $BLUB, a top Sui meme coin ecosystem project. Let’s explore how this dirty fish in the waters of the Sui Oceans has gained so much traction in just a couple months. Swapping for $BLUB is easy on both Turbos Finance and Cetus Protocol which are the top 2 decentralized exchanges in the Sui Ecosystem. Other good options for buying $BLUB (and the ones we’ll use in this tutorial) are 7K and Hop Aggregator which are like Sui blockchain’s native versions of Jupiter on Solana.
The Rise Sui Ecosystem Meme Coin $BLUB
$BLUB has quickly become a leading meme coin project within the Sui crypto ecosystem. Below are some reasons as to why it’s catching the eye of many crypto investors:
- Strong Market Performance: $BLUB launched on Sui in late June 2024 and has already reached a market cap of over 26 million. That number is impressive in such a short timeframe and is similar to what we’ve seen with $FUD, another top Sui ecosystem meme coin project. BLUB has since pulled back to around 16 million market cap and seems to be consolidating.
- Fast Organic Social Growth: With meme coins on any blockchain, X.com (Twitter) is where all the organic social marketing takes place. At the time of writing this, the $BLUB X profile (@blubsui) has around 11,300 followers and they post a minimum of 3 times per day which is good. Engagement on their Tweets is strong (lots of comments and re-tweets) and the BLUB art / graphics are unique and eye-catching. $BLUB has clearly built a strong, active, and growing community on X.com which is crucial to the success of any crypto meme coin project.
- Perfect Timing: The timing of the launch of $BLUB could not have been better. It’s riding the coattails of the surge in interest from the crypto community in the Sui blockchain in general. The Solana meme coin market has been slow for a few months and attention is shifting to other chains like Sui, Sei, Fantom, and Avalanche. Also, previous to Sui meme coins like $FUD have been going through internal changes which opened the door for a new leader like $BLUB. The last thing I’ll point out is that $BLUB is being compared to other major meme coins like $BRETT on Base, $PEPE on Ethereum, and $REDO on TON.
Closer Look at $BLUB Tokenomics
BLUB’s tokenomics are designed for rapid growth and community engagement:
- 75% allocated to provide liquidity in the Top Sui DEXs
- 10% for marketing and community growth
- 15% to contributors, vested over three years starting 6/29/2024
You can currently buy Blub on Cetus, Hop Aggregator, and Turbos – some of the top Sui ecosystem DEXes.
Why Meme Coins on Emerging Layer 1 Blockchains Matter
One of my theories all year has been that we will eventually see a rotation of meme coin trading volume out of Solana and into new L1 blockchains like Sui and Sei. The newly released Sui Bridge will most likely play a key role in adding liquidity to the Sui blockchain. If that happens, the top meme coin projects in those ecosystems ($BLUB / $FUD on Sui and $Milli / $SEIYAN on Sei) could see significant run-ups that outpace the price increase of the underlying ecosystem coin. In other words, meme tokens are essentially leveraged longs on the underlying blockchain. Buying $BLUB and/or top utility tokens like DeepBook is a way to potentially turn a small amount of $SUI into a much larger sum if my theory plays out.
Analyzing BLUB’s On-Chain Data and Holder Count
Holder count is a metric I always look at when analyzing meme coins. DEX Screener does a good job of showing it for Solana meme coins but not yet for Sui. The larger the holder count of any meme coin, the better. To see the holder count for $BLUB take the following steps:
- Go to $BLUB on Dex Screener and Copy the contract address.
- Next go to Suiscan or SuiVision (top explorers for Sui) and paste the $BLUB contract in the search bar.
- You’ll see the on-chain holder count for BLUB which is currently at 19,541 and growing.
As of now, $BLUB boasts 19,541 on-chain holders – an impressive number for a relatively new meme token on Sui. It’s also important to note that no Centralized Exchanges (CEX) have listed BLUB as of yet which makes its growth even more impressive. However, there are rumors that a MEXC listing for $BLUB is imminent.
Update 9/18/2024: $BLUB/USDT spot trading pair will be listed on MEXC in the Assessment Zone at 2024-09-18.
How to Buy $BLUB: A Step-by-Step Guide
Ready to swap some $SUI for $BLUB? Here’s how to do it:
- Choose a Sui DEX:
- Turbos Finance is the original DEX for the Sui ecosystem and is a great option for buying $BLUB.
- Cetus is another top Sui Decentralized Exchange where you can swap for $BLUB.
- Hop Aggregator is similar to Jupiter in the Solana ecosystem in that it will typically get you the best price by routing though Turbos, Cetus, and other DEX options.
- Aftermath Finance is also a top Sui DeFi protocol and perfect for swapping Sui memecoins.
- Connect Your Sui Wallet or Phantom Wallet to a DEX:
- In this example, we’ll use Hop Aggregator. So you’ll simply go to hop.ag and connect your Sui Wallet.
- Swap $SUI for $BLUB:
- Go to DexScreener and copy the BLUB contract address.
- Next, go back to Hop Aggregator and paste the contract address into the “Select a Token” search for “Receive” field.
- Enter the amount of $SUI (could also be $USDC or any available token) you want to swap for. Click the “Trade” button, your Sui Wallet will open, approve the transaction, and the swap for $BLUB is complete!
If your looking to take your Sui meme coin trading game to the next level, check out our tutorial on Sui Sniper Bot.
Earn Yield on your $BLUB by Providing Liquidity
Did you know you can put popular meme coins like $BLUB to work and earn yield? Adding liquidity to BLUB / SUI pools on top DeFi protocols like Turbos Finance and Cetus can increase your bag size. When you provide liquidity to a BLUB-SUI pool, you earn yield on fees when users of the the DEX make swaps for that pair. High trading volume results in more fees which makes meme coin liquidity pools interesting. Just make sure to do your homework before providing liquidity as meme coins are the most volatile assets in crypto an you need to understand the risks of impermanent loss.
The Future of $BLUB and Sui Meme Coins
The BLUB meme coin project is worth keeping a close eye on in a growing Sui ecosystem. With its strong community and more attention being paid to the Sui meme coin ecosystem in general, it has a chance to be a big winner for the rest of 2024 and beyond. Meme coins on any blockchain should be looked at as levered longs on the underlying ecosystem. Remember meme coins are extremely volatile and you should never invest more than you’re willing to lose. If you found this $BLUB guide helpful, please consider subscribing to the Stouy YouTube Channel for more crypto tutorials.
Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.
