CMC News

Trillions Meme Coin Hits $60M Cap on #Plasma Network

A meme coin deployed on the Plasma stablecoin network reached a $60 million market capitalization on Sunday before experiencing a sharp decline. The token, called Trillions, emerged after Plasma entered mainnet beta last week, attracting $5.5 billion in total value locked and pushing its $XPL token to a $2.3 billion market cap.

The Trillions token references a meme central to the Plasma thesis, with the project mentioning it as early as December 2024. White House AI and Crypto Czar David Sacks stated that #stablecoins could create trillions of dollars of demand for U.S. treasuries, as tokens often purchase treasuries for their reserves.

Plasma simply reposted this clip saying "trillions" in February, and the post went viral despite the network having a small following at the time. The meme evolved into a signature way for Plasma employees to sign off social media posts and celebrate achievements, similar to other crypto community traditions.

Plasma operates as a #layer-1 network optimized for stablecoin transactions, including gasless $USDT transfers. However, the permissionless blockchain allows anyone to build on top of it, and crypto traders flocked to the network to trade #meme coins following its mainnet beta launch.

Other Plasma meme coins like Bankless, the dog-themed coin Luna, and a Pepe clone also reached market caps in the millions. Most of these tokens appear to have been created on #DyorSwap, a multi-chain launchpad supporting the network.

The trillions meme later evolved to include "pre-trillions," a nod to the pre-rich meme that swept through the crypto community. When Plasma entered mainnet beta last week, users celebrating their $XPL airdrop on social media adopted the "trillions" phrase, and the Trillions meme coin was created the same day.

The token bubbled below a $10 million market cap before exploding to $60 million on Sunday.