The overall meme coin market cap went through the roof in the last seven days! It’s up almost 84%, from $55 billion to finally cracking a magical $100 billion.
TL;DR
- The meme coin market blew up by 84%
- Post-election crypto optimism sees Bitcoin top $93,000!
- Elon Musk will now officially be working for D.O.G.E.
- Scams using celebrity accounts on social media are on the rise
- Stay on top of your meme game or get REKT
7-Day Meme Coin Market Snapshot
The overall meme coin market cap went through the roof in the last seven days! It’s up almost 84%, from $55 billion to finally cracking a magical $100 billion! The reason? Well, Binance and others like Coinbase have started new meme coins, and this is what the people want.
Oh yeah, and Bitcoin almost hit $95,000. Moving along…
No, let's pause for a second. This was probably the craziest week of up-only crypto action I’ve seen in my seven years in the space. Madness! Will it hold?
The majority of top meme coins had a steady rise, while Dogecoin (DOGE) went berserk following the announcement that Elon Musk and Vivek Rawasamy will head the Department of Government Efficiency (DOGE). Yes, you read that right.
Source: CoinMarketCap
Crypto blue chips like Bitcoin, Ethereum and Solana are on a moon mission as post-election crypto euphoria over Trump’s presidential win shows no signs of slowing down.
Source: the Cryptonomist
His promise to go all in on crypto sent Bitcoin to a wild $95,000 all-time high (ATH) after the CPI numbers came in as expected at +0.2%. It has since slipped back to around $89,009, at the time of writing.
Source: CoinMarketCap
Meme Coin Market vs Other Crypto Sectors
According to DeFiLlama’s Narrative tracker, meme coins are back at the top as the hottest sector in town, and market sentiment is extremely bullish after the U.S. presidential election. I mean, they’re naming government departments after doggie coins, amiright?
The choice is binary at present—Bitcoin or Dogecoin? With retail coming back to markets and TikTok crypto content going through the roof, they’re going for the coins they know.
The 30-day trajectory for meme coins as a narrative had a meteoric rise of 143%.
Source: DeFiLlama
Top 20 Meme Coin Leaderboard
A sea of green! We are so back.
Meme Coin Charts: 7-Day Insights
All top 20 meme coins by market cap are up over the last seven days.
Biggest Gainers (Last 7 Days):
- Dogecoin (DOGE): +129.24%
- PepeCoin (PEPECOIN): +111.36%
- Neiro (NEIRO): +80.69%
- Goatseus Maximus (GOAT): +69.76%
- Brett (BRETT): +64.67
Source: CMC Meme Coins Page
Elon Brings Midas Touch to MartyrFi
Elon Musk-themed tokens have skyrocketed, mostly because of Musk’s role in Donald Trump’s victory. The total market cap of all “Musk tokens” has jumped over $45 billion.
Of course, Musk also played a huge part in the 2021 bull run wherein his championing of $DOGE pumped its price from under $0.01 to $0.70 at its top.
Musk’s sharing of poor Peanut the Squirrel’s fateful demise has seen PNUT climb to a ridiculous fully diluted valuation (FDV) of $1.7 billion in only days, and fellow martyr Fred the First Convicted Raccoon’s ($FRED) is over $150M as we speak.
Seems like the tough guys at the NY State Department of Environmental Conservation ironically sparked a global pandemic of meme coin rabies!
Source: D.O.G.E.
Top Performers (Last 7 Days)
Department Of Government Efficiency (DOGE): +364%
TERMINUS (TERMINUS): +197%
Dogelon Mars (ELON): +99%
Grok (GROK): +88%
Meme Coins by Chain
Ethereum Memes
- Dogecoin (DOGE) was the top gainer of not only the top meme coins but also the top 10 crypto tokens by market cap.
- PepeCoin (PEPECOIN) soars 115%. All eyes on the Pepening.
Solana Memes
- Cobie burns 60% of the meme coin UPONLY, worth $17 million when he burnt them.
- The AI Prophecy shot up by 1199% after a top-tier exchange listed it, reaching a market cap of $279 million.
- BONK has also been on a tear after it.
Tron Memes
- SunPump collaborates with Nexmate.AI.
- SunDog partners with Trust Wallet’s launchpool.
SUI Memes
- All the top 10 Sui meme coins by market cap ended green with UNI (UNI) showing gains of 322% over the last seven days.
- Top meme Sudeng has jumped 40% in the last day as the rumor mill starts up.
- MemeFi announces a new token launch and partnership with Sui.
Bitcoin Runes
The Runes market is heating up with increased trading volume, rising market caps, and more holders joining, especially major Solana investors and even Ethereum maxis.
Influential figures like "Bonk guy" are driving interest, making Runes attractive to whales from other chains.
Meme Coin News
Solana’s Robin Hood or Robbin The Hood?
Jarett Dunn (Stacc), a former Pump.fun employee was arrested and bailed in the UK in connection with a $1.9 million exploit, Pump.fun claims.
Stacc gave the funds from the exploit to random communities to protest what he saw as exploitative practices by Pump.fun, and he is now seen as a Robin Hood of Solana of sorts.
He was due to be sentenced on Oct. 25 but changed his plea from guilty to innocent and got new counsel. Stacc then launched a platform called FOMO3D that gave away 95% ownership of the company to investors. He added AMM (automated market maker) pools with cheaper trading fees and a unique bonding curve. The project is still in its early days, but a fun experiment. As the battle for meme coin market share heats up, more innovations on the pump.fun model should hopefully follow.
We’re So Back (And So Are the Scammers)
Skip Bayless, an American sports commentator, recently had his X account hacked to promote a Solana-based token called SKIP, along with political messages supporting Donald Trump.
The hacker used Bayless' account to endorse the token with slogans like, “Let’s make crypto great again.” The token briefly gained traction but quickly fell by over 94%.
This follows a trend of celebrity X account hacks, including those of Wiz Khalifa, 50 Cent and Metallica, which were used to pump and dump various tokens.
Also, with so much silly money coming into meme coins, expect pump and dumps and all those other nasty meme coin scams to start showing their ugly faces again. Stay safe out there, and preserve your portfolio at all costs.
What can you do next?
- Beware of extreme volatility during these times.
- Many meme coins experience high volume over short periods but have low liquidity over time, which is very risky.
- Avoid social media accounts that promote scam meme tokens.
- Remember that meme coins often decline faster when the larger market retraces.
- Consider reinvesting profits into safer crypto tokens or stables.
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