Memecoins regained momentum on Wednesday amid a broader rally supported by encouraging inflation data and that of Donald Trump pro-cryptocurrency movements.
What happened: Unconventional Fartcoin surged more than 27% in the past 24 hours to become the biggest meme coin gainer.
THE Solana SOL/USDThe token-based token has accumulated a market capitalization of $1.24 billion at the time of writing, with trading volumes jumping 26% in the last 24 hours.
Fartcoin was followed by my dog, another popular community-driven Solana coin, based on a meme of a dog wearing a hat.
The billion-dollar cryptocurrency rose 11%, while its trading volume jumped 75%.
PINGOUthe official coin of the popular non-fungible token collection Chubby penguins, gained 9.76% for a market capitalization of $2.16 billion.
| Cryptocurrency | Earnings +/- | Price (Recorded at 10:45 p.m. ET) |
| Farcoin (PETCOIN) | +27.22% | $1.25 |
| dogwifhat WIF/USD | +11.55% | $1.71 |
| Chubby penguins (PENGU) | +9.76% | $0.03448 |
See also: Italy’s largest bank launches into Bitcoin trading with $1 million ‘test’ investment, but CEO says he’s not personally investing in BTC
Coin heavyweights like Dogecoin DOGE/USD And Shiba Inu SHIB/USD also gained momentum, increasing by 3.63% and 2.58% respectively.
Ethereum ETH/USD-Frog themed room Pepe PEPE/USD jumped 6%, while cat-themed Popcat, one of the biggest gainers of 2024, is up 7.88% in the last 24 hours.
The total market cap of meme coins increased by 4.83% to $106.94 billion, while overall volume jumped 27.81% to $10.74 billion.
The resurgence followed slower growth than expected of underlying inflation, seen as a net positive for risky assets. Plus, a report has raised hopes clear regulations on cryptocurrencies under new SEC leadership in the Trump administration.
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