The cryptocurrency market, a space known for its constant evolution, continues to introduce new digital assets at a rapid pace.

Among these, meme-based cryptocurrencies have experienced a surge in popularity, driven by their strong connections to internet culture and social media trends.

Despite their often volatile nature, meme coins have successfully captured the attention of investors worldwide.

For those willing to navigate the inherent risks, here’s a look at three noteworthy meme coins that stood out in 2024.

The rise of meme coins: beyond the joke

Meme coins represent a unique category in the crypto space, drawing inspiration directly from internet memes and social media phenomena.

Their value isn’t rooted in traditional utility but rather in their association with viral culture.

These coins are known for their price volatility and their popularity is often fueled by viral internet trends and endorsements from influential figures like Elon Musk, whose tweets can often have an outsized impact on their market capitalization.

Dogecoin: the original meme coin pioneer

Emerging in 2013, Dogecoin was created as a playful tribute to the popular Shiba Inu dog meme. Unlike Bitcoin, Dogecoin has no limit on the number of coins that can be generated.

It operates using a proof-of-work consensus algorithm, where miners use computational power to solve complex math problems, validate transactions, and earn Dogecoin rewards.

While Dogecoin gained mainstream attention in early 2021 following celebrity endorsements, its value remains highly volatile.

Primarily used for online tipping and microtransactions, Dogecoin can also be traded for other cryptocurrencies or traditional fiat currencies.

Shiba Inu: the Dogecoin rival

Introduced in August 2020, Shiba Inu (SHIB) was developed as a direct competitor to Dogecoin. It is a cryptocurrency operating on the Ethereum blockchain using a proof-of-stake consensus algorithm, where validators are chosen based on the number of SHIB tokens they hold, rather than computing power.

Created anonymously by an individual or group known as “Ryoshi,” SHIB aimed to build a decentralized community of token holders who could exchange tokens and participate in governance decisions.

Like Dogecoin, Shiba Inu’s value has been subject to significant volatility, and its primary use case has been speculative trading, as opposed to acting as a payment method.

Pepe coin: the frog’s memetic leap

Pepe Coin is a more recent addition to the meme coin landscape, taking its inspiration from the well-known “Pepe the Frog” meme.

The project boasts a circulating supply of 420 trillion tokens, with over 90% securely locked in liquidity pools.

Since its launch, Pepe Coin has witnessed a significant surge in market capitalization, and has rapidly grown in popularity.

Investing in meme coins is known to be highly risky, but Pepe Coin stands out as a token that managed to capture the zeitgeist.

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The unprecedented growth in India’s digital economy has also led to a significant expansion in India’s data center market.

The growth has also been aided by the wider adoption of cloud services as well as the growth of the artificial intelligence sector, with governments stepping up to incentivize investment in the data center space.

According to a report by real estate consultants Cushman & Wakefield (C&W), around 230 megawatts (MW) of data center capacity was likely added in 2024, taking India’s total capacity to around 1.21 GW.

With many greenfield projects under execution across markets next year, C&W expects to commission around 250 MW of additional data center capacity.

Another report by CBRE projects India’s data center capacity to be 2,070 MW by the end of 2025, from 1,600 MW by the end of 2024.

India’s data center market has attracted investment commitments of $60 billion in the last six years, and the cumulative inflow is estimated to surpass $100 billion by the end of 2027, according to CBRE.

The promise has caused the emergence of many Indian companies as major players in the sector, and the boom is reflected in their share prices and operational performance.

Here are four stocks to watch out for to gain from the data center industry boom:

Aurionpro Solutions

Aurionpro Solutions provides solutions with a focus on banking, mobility, payments, insurance, data center services, and government services.

In its data center build services, the company builds physical environments for enterprise data centers, colocation, and hyperscaler data centers, and data centers for research and educational institutes.

 In Q2FY25, the company earned a revenue of Rs 2.8 billion, a 32% increase year-on-year. Net profit too increased by 34% at Rs 460 million.

Aurionpro’s share price has grown by more than 54% year-to-date.

The company’s Rs 11.5 billion order book reflects a strong pipeline in banking and tech innovation.

Plans include global market expansion and increased focus on AI-driven enterprise solutions.

It is also confident of achieving a guided growth of over 30% for FY25 while maintaining earnings margins.

Anant Raj

Anant Raj is primarily engaged in the development and construction of IT parks, hospitality projects, office complexes, shopping malls, and residential projects in the State of Delhi, Haryana, Andhra Pradesh, Rajasthan, and NCR.

Additionally, the company has ventured into the data center sector, planning to convert 5.66 million square feet of commercial property into a 300-megawatt (MW) data center.

It has partnered with key government agencies to support this initiative.

In July, Anant Raj also signed an MoU with Google for providing data center infrastructure, DC-managed services, and cloud platforms to various public and private enterprises.

On the earnings front, Anant Raj reported a revenue of Rs 5.1 bn in Q2FY25, a growth of 55% YoY. The net profit after tax for Q2 FY25 was Rs 1 bn, indicating a remarkable 75% growth YoY.

The company’s share price has soared by more than 177% YTD.

Earlier this month, brokerage house Motilal Oswal issued a ‘buy’ tag on the firm, with a price target of Rs 1,000 per share, indicating an upside potential of around 31% from the previous session’s closing price.

Its share price stood at Rs 826.95 at Friday’s close.

“With a planned capacity of 300MW for DC over the next 4-5 years, the company is leveraging its existing technology parks to enhance execution speed and cost efficiency,” Motilal Oswal said.

Cummins India

Cummins India is a key player in providing backup power systems to data centers, offering generators, engines, and alternative fuel solutions.

Its extensive network and diverse offerings make it a critical component of India’s data center ecosystem.

The company posted a Rs 24.9 billion revenue in Q2FY25, a 31% increase year-on-year, and a 37.5% YoY increase in net profit at Rs 4.5 billion.

The company’s share price has increased by about 69% YTD, boosted by rising demand for its solutions. It has a sufficiently high PE ratio of 46.99, which means investors are willing to pay a higher price because of better future growth expectations.

The management of the company anticipates gross margins will stabilize as the product mix normalizes and ongoing cost reduction efforts materialize.

It is expecting double-digit revenue growth in FY25.

ABB India

ABB India is also a major player in providing key services to data centers, like grid connections, data center power distribution, cooling systems, and others.

The company reported a revenue of Rs 29.1 billion in Q2FY25, up 5.2% year-on-year. Net profit stood at Rs 4.4 billion, up 21% YoY.

ABB India’s share price grew 60% in the past year. The company is optimistic about future growth, backed by strong demand and its commitment to sustainability.

Motilal Oswal expects revenue growth of 15%/18%/20% in CY24/CY25/CY26 and margins of 19.0%/18.6%/18.0%, translating into a PAT growth of 51%/16%/16% for CY24/CY25/CY26E.

Voltas

Voltas has carved a niche in the commercial air conditioning segment, offering tailored cooling solutions for data centers.

With India’s data center investments projected to exceed $100 billion by 2027, Voltas is well-positioned for long-term growth.

The company leverages its engineering expertise to provide specialized products essential for data center operations.

Its strategic focus on high-demand segments is expected to drive further share price appreciation and market expansion.

The stock has gained over 74% YTD. The company has an extremely high PE ratio of 101.73,

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In a devastating turn of events, a Jeju Air flight crashed at Muan International Airport on Sunday, claiming 179 lives and leaving only two survivors.

The tragedy, now the deadliest air accident in South Korea’s history, has spurred the government into action, with acting President Choi Sang-mok ordering an immediate safety inspection of the country’s airline operation systems.

The incident has not only cast a shadow over the nation but also raised urgent questions about aviation safety and accountability.

Addressing a disaster control meeting in Seoul on Monday, Choi expressed deep sorrow over the loss of lives and pledged comprehensive support for the bereaved families.

Declaring a seven-day national mourning period, he emphasized the need for stringent safety measures to prevent such catastrophes in the future.

“The government will spare no effort in supporting the victims and ensuring this tragedy is not repeated,” he said.

Jeju Air crash: what we know so far

The crash occurred shortly after the pilot reported a bird strike and issued a mayday alert.

Joo Jong-wan, the director of the aviation policy division at the Ministry of Land, Infrastructure, and Transport, confirmed the pilot’s distress call but noted that the exact cause of the crash remains under investigation.

At a press briefing on Sunday, Jeju Air’s head of the management support office, Song Kyung-hoon, assured that the airline would extend full support to the victims and their families.

Song revealed that the aircraft was covered by a $1 billion insurance policy.

However, when questioned about the bird strike as a possible cause, Jeju Air CEO Kim E-bae refrained from confirming or denying the reports, stating that the conclusion would depend on the official investigation.

“Currently, the exact cause of the accident has yet to be determined. We must wait for the findings from government agencies,” Kim said in a Sunday statement.

He also dismissed allegations of mechanical issues or lapses in safety protocols, asserting,

This crash is not related to maintenance. There can be absolutely no compromise when it comes to maintaining aircraft.

Meanwhile, concerns about Jeju Air’s operational safety escalated further when another flight reportedly returned to Gimpo International Airport on Monday due to issues with the landing gear.

These incidents have intensified scrutiny of South Korea’s aviation safety standards and highlighted the need for a comprehensive review.

The tragedy has also sent ripples through the financial markets.

Jeju Air stock down 8%

Shares of Jeju Air plunged to an all-time low on Monday, dropping 8.53% as investors reacted to the grim developments.

Stocks of other Korean airlines experienced significant volatility, reflecting widespread apprehension.

The crash comes at a politically sensitive time for South Korea.

Acting President Choi is the second individual to hold the position in less than a month, following the impeachment of his predecessor Han Duck-soon.

The political turmoil adds another layer of complexity to the nation’s response to the tragedy.

As the country mourns the victims, the focus now shifts to ensuring justice for the affected families and implementing robust safety measures to restore public confidence in South Korea’s aviation industry.

This incident serves as a somber reminder of the critical need for unwavering vigilance in airline operations.

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According to a recent Reuters report, a record 3.4 million Chinese youth registered for this year’s notoriously competitive civil service exam, a sharp increase of over 400,000 from last year.

The allure? Job stability, subsidised housing, and the prestige associated with government roles.

Gen Z’s challenges

This surge highlights the challenges facing Gen Z in China as private sector opportunities dwindle amidst an economic slowdown and high youth unemployment.

Yet, beneath the appeal of “iron rice bowl” stability lies a less glamorous reality: wage cuts, bonus reductions, and unpaid salaries are increasingly common for civil servants, painting a more complex picture of these coveted roles.

Stability amid a turbulent Chinese economy

China’s economic slowdown, exacerbated by a prolonged property crisis and weak consumer spending, has left private sector prospects bleak.

Youth unemployment, while slightly lower in recent months, remains significantly higher than pre-pandemic levels.

Against this backdrop, civil service jobs offer a refuge.

The sector’s reputation for job security and perks such as subsidised housing and social insurance is particularly attractive to disillusioned graduates navigating an uncertain job market.

The numbers tell the story. Civil service job vacancies have nearly tripled since 2014, climbing from 14,500 in 2019 to 39,700 in 2024.

This growth comes even as local governments grapple with fiscal crises, making it increasingly difficult to pay salaries and bonuses on time.

Nevertheless, for many, the perception of stability outweighs these risks, especially as layoffs in government jobs remain rare compared to the private sector.

Economic struggles overshadow the “iron rice bowl”

Despite the appeal, many civil servants face harsh economic realities.

Pay cuts of up to 30%, scrapped bonuses, and delayed salaries are now common across China’s public sector.

In Guangdong province, for example, some civil servants earn as little as 4,000 yuan per month after losing their monthly bonuses.

Meanwhile, in Shandong, many workers report receiving only a single month’s salary per quarter under austerity policies.

This financial strain is part of a broader wave of local government cost-cutting measures.

In cities like Shenzhen, entire departments have been downsized, and staff cuts are becoming more frequent.

These pressures have forced some civil servants to leave their roles, while others stay on, navigating what one employee described as “stable poverty.”

Wage arrears have become systemic, with some experts suggesting these challenges are unlikely to be resolved in the short term.

As a result, incidents of corruption and administrative fines have reportedly increased, raising questions about the sustainability of the current system.

A growing workforce despite fiscal pressures

China’s civil service workforce has swelled from 6.9 million in 2010 to 8 million today, with millions more employed in public institutions such as schools and hospitals.

Despite repeated downsizing efforts, Beijing continues to expand civil service hiring as a means of maintaining social stability.

This approach has come at a cost. Tens of thousands of public sector jobs have been cut since 2020, primarily through hiring freezes and attrition, leaving existing employees to shoulder the workload.

These challenges underline the complexity of balancing the state’s need for stability with the fiscal realities of supporting a vast public sector.

The lack of substantial reforms has led some experts to warn that expanding the civil service without addressing its inefficiencies may only exacerbate long-term issues.

The dilemma facing China’s youth

For many young Chinese, civil service jobs represent an idealised career path, particularly for those who have never experienced the mass state sector layoffs of the 1990s.

Social media memes, such as “Becoming a civil servant is the endpoint of the universe,” reflect this sentiment.

The realities of unpaid salaries and stagnant wages are causing some to reconsider their ambitions.

The surge in applicants underscores a generational struggle to reconcile aspirations for stability with the economic realities of modern China.

While civil service roles remain highly sought after, the risks associated with these jobs are becoming harder to ignore.

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With Donald Trump set to assume the US presidency in 2025, questions have cropped up regarding the future of his social media platform Truth Social, and its parent company Trump Media & Technology Group (DJT).

Trump’s latest move of transferring his ownership stake to a revocable trust which makes him an indirect owner of the stock, but gives his son Donald Trump Jr. the sole voting power over the shares has also raised concerns about potential conflicts of interest.

Besides, investors and analysts also seem to grapple with valuation challenges and have questions about the company’s growth strategies.

Trump’s trust arrangement raises ethical questions

Trump’s indirect ownership of TMTG—valued at over $4.2 billion—has drawn criticism for lacking transparency.

While he transferred his stake to a trust in December 2024, the arrangement allows Donald Jr. to maintain sole voting power, raising concerns over potential conflicts of interest.

“This is not a blind trust with an independent trustee, where people can have confidence that the conflicts of interest are in fact removed,” said Dennis Kelleher, CEO of Better Markets in a Barron’s report.

President Trump having his son as the trustee looks more like a blind trust with one eye open.

Though US presidents are not legally obligated to adhere to conflict-of-interest laws, past officeholders have typically placed assets into fully independent blind trusts to avoid perceptions of impropriety.

Trump’s decision to forgo such measures has fuelled skepticism over whether the public and private roles can remain distinct.

Valuation concerns: Is Truth Social worth its price tag?

TMTG’s current valuation of $7.8 billion is under intense scrutiny given its limited financial performance.

The company reported a modest $1 million in revenue and a $19.2 million net loss for Q3 2024, leaving many to question the stock’s fundamentals.

Unlike most publicly traded companies, TMTG has no brokerage coverage, making its financial outlook speculative at best.

Additionally, institutional investors such as Vanguard and BlackRock hold small stakes in the company, primarily through index funds, which may not indicate confidence in its long-term prospects.

When compared to social media giants like Meta Platforms and ByteDance, TMTG’s position appears tenuous.

Meta’s market capitalization stands at $1.5 trillion, driven by robust revenue and engagement metrics.

Similarly, ByteDance, the owner of TikTok, is estimated to be worth $300 billion.

TMTG, by contrast, seems to derive its valuation largely from Trump’s personal brand rather than operational achievements.

DJT’s growth strategy: streaming services and crypto ventures

Amid these challenges, TMTG has outlined ambitious growth plans that extend beyond Truth Social.

The company’s Truth+ streaming video service is gaining traction, with availability on platforms like iOS and Android.

TMTG is also exploring opportunities in cryptocurrency and fintech to diversify its revenue streams.

Reports have surfaced that TMTG is considering acquiring Bakkt, a publicly traded crypto platform with a market capitalization of around $200 million.

Such a move would be financially feasible, given TMTG’s $673 million in cash reserves and debt-free balance sheet.

Devin Nunes, CEO of TMTG, has emphasized the company’s commitment to growth through potential mergers and acquisitions.

“We continue to explore additional possibilities for growth such as potential mergers and acquisitions…including in the realm of fintech,” he said in a recent earnings release.

While these strategies could provide new revenue streams, they also come with significant risks.

Earlier in November, the company filed a trademark for its potential cryptocurrency trading and payment platform, “TruthFi.”

The cryptocurrency market is notoriously volatile, and a misstep in this space could further erode investor confidence.

Retail investor enthusiasm wanes

Retail investors, once a key driver of DJT stock’s performance, appear to be losing interest.

Following Trump’s election victory in November, trading volumes for the stock have declined steadily.

“Retail investor demand for DJT has fallen since the election,” said JJ Kinahan, CEO of IG North America.

He told Barron’s that many Trump supporters who bought shares before the election may have seen their investment as a form of political expression rather than a financial decision.

Interactive Brokers Chief Strategist Steve Sosnick echoed this sentiment, observing that DJT’s popularity among traders has waned since peaking on election day.

“We’re not necessarily seeing selling in DJT, but there is not an influx of new buyers either,” Sosnick explained.

The lack of retail momentum is evident in DJT’s recent stock performance.

While shares have rebounded slightly since early November, they remain 30% below their October peak of $55 and are down over 50% from their March high of $80.

Possible catalysts: opportunities and risks

Despite the challenges, DJT stock retains the potential for sudden spikes, driven by unexpected developments.

A buyout offer, partnership with a fintech firm, or the launch of a new product line could reignite investor interest.

However, such catalysts remain speculative, and the risks associated with insider sales or regulatory scrutiny could temper optimism.

Insider ownership poses an additional layer of uncertainty. Several key figures associated with Trump’s administration, including Attorney General appointee Pam Bondi, own shares in TMTG.

If insiders begin offloading their stakes, it could trigger a sharp decline in stock prices.

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