Meme coins are rallying, with all top 10 meme tokens in the green by huge margins over the past 24 hours.
Meme coins are rallying, with all top 10 meme tokens in the green by huge margins over the past 24 hours. Among them, the viral coin, MOODENG, inspired by a cute baby pygmy hippo in Thailand has risen over 47% in a single day and a whopping 418% in a week.
This frenzy in meme coins comes at a time when the Solana-based token launchpad Pump.fun is showing signs of life after a tough month of having stern competition from a Tron-based rival. On Wednesday, Pump.fun minted 10,309 new meme coins, the most since over a month, signaling a comeback for the platform once used to create more than 20,000 tokens daily at its height.
The broader meme coin market is doing well too. Dogecoin is up 8%, while Shiba Inu is surging an impressive 21%. Rounding out the top five, the larger movers are Solana's Dogwifhat up 5% and Ethereum's Mog Coin jumping 11%.
This resurgence with Pump.fun comes after a period of decline in popularity following the launch of Tron’s SunPump. SunPump briefly surpassed Pump.fun in daily token deployments by August 21, but the dominance was short-lived. Recent data shows SunPump's activity has dropped, with less than 1,000 new tokens launched daily over the past 11 days.
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