A gently used 2001 honda civic is a memecoin project built on Solana and has been active for the past 10 months. Its token, $USEDCAR, went up by 8x since the community takeover.
The project launched last year, along with other successful coins like $BONK and $WIF. And that was before the pump.fun memecoins mania. $USEDCAR achieved a $35M market cap, and now it’s in a consolidation phase.
The project was popular back in January, but whales decided to sell after achieving 5x, attempting to kill it. This did not stop the community and the real OGs from reviving it. According to Spyzer, VP of Memes, the true believers of $USEDCAR kept accumulating the token. Then a community takeover (CTO) was announced and the project went up by 8x since the CTO.
A gently used 2001 honda civic has been growing organically, and it currently has a Telegram community of 5,225 members. The project’s website is filled with the memes and other content from the community about a gently used 2001 honda civic.
$USEDCAR is about freedom of the community
X user Jiro 9dcc shared a paper on October 10th about $USEDCAR. The paper talks about the investment rationale, market context, and investment catalysts of the memecoin. The paper states that the Honda Civic represents financial freedom, making $USEDCAR about stability and long-term value rather than exorbitant wealth.
Additionally, finding a good used Honda Civic is difficult which represents scarcity of the vehicle’s meme value. Moreover, the paper says that the Civic has a community-driven value, which represents the true decentralization of wealth compared to projects backed by VC.
In terms of market context, used cars like a Honda Civic symbolizes real-world value, which is similar to memecoins in the crypto space. The paper says that one of the investment catalysts of the memecoin is that it aligns with FIRE principles. FIRE stands for financial independence, retire early, meaning the memecoin appeals to people who are seeking long-term financial security.
A gently used car gives birth to The MemeMachine
The gently used car is real and it’s been touring Europe since summer. The car named The MemeMachine belongs to Fraser Dakin, a $USEDCAR community member. Of course, The MemeMachine is a Honda Civic car. It’s covered with crypto memes and stickers of Bitcoin, Dogecoin, PEPE, WIF, Elon Musk, Gary Gensler, and Sam Bankman-Fried.
The car has a special plate number of W777 BTC and this is why it was purchased for £5,000 instead of £1,500 according to Decrypt. The car is an embodiment of the crypto and internet culture.
Fraser has been touring Europe, driving The MemeMachine from one country to another. According to Fraser’s X page, the gentle MemeMachine started the trip from London. Then it’s been in Amsterdam, Hamburg, Berlin, Warsaw, Prague, Munich, Ferrara, Napul, Pula, Milan, Geneva, and back to London.
During the road trip, The MemeMachine owner attended many crypto events including ETH Warsaw, NapelETH, ETHMilan and Zlive. On the road, he met plenty of crypto enthusiasts who added crypto meme stickers to the car.
Next stop Zebu Live to complete this lap of Europe in The mememachine
📍 London – Amsterdam, Hamburg, Berlin, ETHwarsaw, Prague, Munich, Ferrara, NapulETH, Ferrara, Pula, ETHMilan, Geneva, London ♻️ pic.twitter.com/XhU9u8Gi6d
— The MemeMachine (@The_MemeMachine) October 6, 2024
Is $USEDCAR the next memecoin gem?
According to GeckoTerminal, $USEDCAR is currently trading at $0.022 on Raydium, and has a 24-hour trading volume of $706.22K. The 2001 honda memecoin’s market cap and fully diluted market cap are equal, standing at $7.42M. Currently, $USEDCAR has 11.95K holders and is trading on Raydium and Jupiter.
According to SolScan, $USEDCAR has a total supply of 332.95M and the top 10 wallets collectively hold 64.1M tokens, around 19.27%. One of the top wallets belongs to Raydium Authority V4, which holds 15.6M tokens, around 4.69%. The second and third top wallets hold 2.45% and 2.19% respectively.
An X user by the name Wolf said “Name one meme coin that’s had community takeover, 2 major corrections, almost 1 yr old, cult like community, on the verge of a comeback, appealing theme, and still under $10m mc?”
