The meme coin sector didn’t disappoint this week; prices swung like a wrecking ball and the drama spilled into real life as Trump’s TRUMP coin dinner drew headlines.
Introduction
The meme coin sector didn’t disappoint this week; prices swung like a wrecking ball and the drama spilled into real life as Trump’s TRUMP coin dinner drew headlines. One guest, Nicholas Pinto, called it “the worst food ever” and the speech “bullsh*t.” Then again, Pinto is known for his pranks.
7-Day Meme Coin Market Snapshot
The meme coin market cap dropped more than 4%, from $73.28 billion to $70.28 billion, over the last seven days.
The top meme coin gainers enjoyed a strong rally, but the hype was short-lived. Meanwhile, Ethereum meme coins are staging a surprising comeback.
Source: CoinMarketCap
The crypto big dogs, Bitcoin, Ethereum, Solana, XRP and BNB, are stuck in indecision mode as BTC faces strong resistance at the $110K mark, while the U.S. Labor Department rescinds Biden-era guidance for crypto in 401(K) plans. GameStop also bought 4,710 BTC for their Bitcoin Treasury.
Meme Coin Market vs Other Crypto Sectors
DeFiLlama's Narrative Tracker showed that memes were manhandled this week and ranked 20th, down 17 spots from last week. You wouldn’t guess it from all the action happening in the trenches.
The 30-day trajectory lost some momentum but, as the saying goes, “Number can’t just go up.”
Source: DeFiLlama
Top 20 Meme Coin Leaderboard
The top meme coins were mostly in the red this week, with Pepe, Dog and SPX6900 bucking the trend.
Meme Coin Charts: 7-Day Insights
Meme coins are lagging this week, but the (pump)fun never stops as a U.S. court freezes $57M in USDC allegedly linked to the LIBRA scandal.
Biggest Gainers
- SPX6900 (SPX): +23.04%
- Dog (DOG): +15.33%
- Pepe (PEPE): +6.33%
- cat in a dogs world (MEW): +9.65%
- Ape Coin (APE): +5.69%
Biggest Decliners
- OFFICIAL TRUMP (TRUMP): -12.91%
- Popcat (POPCAT): -12.61%
- Fartcoin (FARTCOIN): -10.16%
- Pudgy Penguins (PENGU): -7.95%
- ai16z (AI16Z): -6.16%
Meme Coins by Chain
Solana Memes
- GOHOME (GOHOME) went up a modest 2% as Solana meme coins started to struggle against rival networks.
Ethereum Memes
BSC Memes
- BUILDon (B) continued to show strength as it jumped another 60% and claimed to be the BSC Mascot of Building.
Base Memes
- Basenji (BENJI) gained 5% and they are proud to be born on Base.
Bitcoin Runes
- Dog (DOG) surged over 15% and is still not listed on any top tier exchange.
What Can You Do Next?
- DYOR before aping any tokens, meme coins are extremely risky.
- Keep an eye on GameStop’s next moves.
- Meme coins are volatile. Make sure to have a diversified portfolio.
- Consider reinvesting some profits into safer crypto tokens or stables.
This article contains links to third-party websites or other content for information purposes only (“Third-Party Sites”). The Third-Party Sites are not under the control of CoinMarketCap, and CoinMarketCap is not responsible for the content of any Third-Party Site, including without limitation any link contained in a Third-Party Site, or any changes or updates to a Third-Party Site. CoinMarketCap is providing these links to you only as a convenience, and the inclusion of any link does not imply endorsement, approval or recommendation by CoinMarketCap of the site or any association with its operators.
This article is intended to be used and must be used for informational purposes only. It is important to do your own research and analysis before making any material decisions related to any of the products or services described. This article is not intended as, and shall not be construed as, financial advice.
The views and opinions expressed in this article are the author’s [company’s] own and do not necessarily reflect those of CoinMarketCap.
