Dogecoin Leads Meme Coin Surge as Pepe, Fartcoin and Trump Solana Token Bounce – Decrypt

Dogecoin (DOGE) is on a tear Thursday as the biggest meme coin by market cap has jumped 14% within the final 24 hours, greater than double Bitcoin’s each day proportion acquire as BTC reclaimed $100,000 and has continued to rise above $103,000 as of this writing.

The main dog-token is now buying and selling at $0.195, up 36% on the month. Predictors on Myriad Markets give it a couple of 55% likelihood of buying and selling above $0.19 within the subsequent two days, based mostly on knowledge from Myriad’s current flash market. (Disclosure: Myriad is owned by Decrypt‘s father or mother firm, DASTAN.)

Whereas DOGE is main the pack, a trio of different notable meme cash are following shut behind. 

The President’s official Solana token—TRUMP—has jumped practically 16% within the final day of buying and selling, now priced at $12.62. The token just lately surged after an announcement that prime holders would acquire entry to a particular dinner with the President, nevertheless it’s nonetheless 83% off its January excessive. 

One other Solana token, the flatulence-themed Fartcoin (FARTCOIN), is outpacing the President’s token, leaping 24% over the identical time-frame, ok for the fifth-biggest each day acquire among the many prime 100 tokens by market capitalization in accordance with CoinGecko. It is priced at $1.23.

Ethereum-based meme coin PEPE is the third-largest gainer in that group, up practically 41.5% at the moment to a value of $0.000011.

Not solely is the trio outperforming the highest crypto asset, however they’re pulling the burden for the remainder of the meme coin class which has now eclipsed a $65 billion market cap—a 16.5% acquire within the final 24 hours of buying and selling. 

That class is full of dozens of once-hot meme cash making surges at the moment, just like the Solana token Moo Deng (MOODENG) which is predicated on a Thailand-based pygmy hippo of the identical title. The token, which earned itemizing on a number of centralized exchanges, is up by 125% within the final 24 hours to $0.089. It stays 88% off its all-time excessive of $0.68 from November. 

Meme cash, that are inherently dangerous and risky, have grown in recognition since final yr’s launch of Solana token launchpad Pump.enjoyable, which makes it low-cost and simple for anybody to create their very own token. 

New token launchpads, like Boop.enjoyable, are actually innovating on that have, together with providing customers main airdrop rewards to attempt to get them to launch tokens and have interaction on their platforms.

Edited by Andrew Hayward