Memecoins
Solana climbs 4% as popular coins Billy, Michi and Popcat surge
Solana jumped 4% in the past 24 hours as the market stages a recovery from the failure Assassination attempt against former President Donald TrumpAlong with this news, which many believe strengthens his presidential candidacy, Solana coins have skyrocketed and are vastly outperforming the network’s native token.
Popular meme coin Bowl (BILLY) has climbed 44% over the past day, extending its lead as the largest Pump.fun token created by market capitalization. At the time of writing, its market capitalization stands at $168 million, while Michi (MICHI) comes in second with $100 million.
That said, Michi has also posted impressive gains, jumping 28% in the last 24 hours. It seems like nothing out of the ordinary has happened with the project, with its Twitter account still posting regular Michi edits, even going so far as to bring the cat into the failure Trump assassination attempt.
Other Solana coins have also outperformed SOL, with tokens like Popcat (POPCAT) jumping by 27.6%, Matt Furie-LandWolf inspired token (WOLF) up 13.5%, and Gigachad (GIGA) up 12.1%. In fact, most of the Solana coin market is up over the past 24 hours, including Dog Hat (Wireless) up 3.1% and Bonk (BONK) 2.4%.
This rally comes after the German Government finally emptied their wallets on Friday after sending billions of Bitcoin to exchanges and market makers. The easing of this significant selling pressure allowed the market to begin its recovery at the start of the weekend.
This rally was then reinforced by the failed assassination attempt on Trump, which appears to have strengthened his candidacy in the election. With the presumptive Republican nominee seen as the pro-crypto candidate, Cryptocurrency markets have surged therefore.
Both Bitcoin (Bitcoin) And Ethereum (ETH) climbed by 4.3% and 4.4% respectively with Solana lagging behind by 4%. Over the week, Solana is up 8.8%, while Bitcoin is up 9% and Ethereum is up 9.8%.
Edited by Stacy Elliott.