HOUSE token causes buying frenzy, drawing in high-profile whales

Source Cryptopolitan

The new craze for HOUSE token is drawing in high-profile crypto whales and influencers. HOUSE mixes the potential of memes with the craze for tokenized real estate. 

HOUSE, a newly launched meme token, is drawing in trades from prominent crypto figures. The Solana-based asset mixes the drive for RWA tokenization with the meme cult craze. 

Within a short time span, whales and public traders stacked over $1.1M worth of HOUSE. In a new and illiquid market, the addition of buyers boosted the token’s rally. Based on Nansen smart money data, HOUSE was all the craze for the past day. 

Even at peak valuation, whales did not sunset the rally, signaling more potential irrational gains. 

HOUSE takes the scenic route to $100M

The buying spree happened at a time when HOUSE broke above $100M in valuation, a milestone for decentralized assets. HOUSE launched in early April, with several rallies to date. The token outperformed others in terms of gains, with top traders turning a small investment into millions on paper.

HOUSE token causes buying frenzy, drawing in high-profile whales
HOUSE rallied above $10M in market capitalization while still relying on DEX liquidity pairs. | Source: DexScreener

HOUSE touched a peak of $0.10 before sliding back to $0.094. The token aims to follow the trajectory of other Solana memes that started on Pump.fun. This time around, the $100M valuation was harder to reach, while HOUSE strives for gains similar to FARTCOIN, SPX and other cult memes. 

HOUSE already has 19,389 holders, sufficient for a highly active meme community. In the past days, the token’s success created a series of similar tokens, aiming to use Solana’s meme platforms to present as RWA tokens, with no real proof of tokenization. 

HOUSE spoofs the housing market

Similar to SPX6900, HOUSE launched as a form of RWA satire, with the tag line of ‘1 HOUSE = 1 house’. For now, the token is nowhere near SPX6900’s levels, but the blatant hype led to a growing following on social media. 

The HOUSE phenomenon has spawned copycat meme tokens, including LAND, Tornado (Housecoin Killer), American Dream, CRISIS, and others. The recent proliferation of memes showed that the Solana ecosystem is still equipped and waiting for a new trend. 

The emergence of an “RWA meme” trend also created tokens like Birkin, BAG, and wBirkin, all using the Solana decentralized infrastructure. As with other memes, they are completely unbacked by any asset, but rely on hype and a cult-like status. So far, HOUSE has the biggest market capitalization, after going vertical in the past day.

The token also draws additional attention with a real-world campaign, complete with posters and financial nihilism about the housing market. 

The token’s success happens while HOUSE is still trading on PumpSwap after graduating from its initial launch. More than 38% of the token’s volumes are on the PumpSwap DEX, with smaller markets on Orca and Meteora. 

The relatively small DEX volumes mean HOUSE may continue with more expansion if liquidity flows in. HOUSE has not given signs of insider trading, though it remains highly risky, similar to other memes with a limited history. The meme craze also showed the legitimate RWA market is much slower compared to the potential of meme markets. 

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Disclaimer: For information purposes only. Past performance is not indicative of future results.
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