Memecoins
Solana Meme Coins Bonk and Billy Soar Amid Market Crash
Meme coins are surging as Bitcoin takes a hit due to German government selling pressure and Mt. Gox refunds.
More important again, BONK jumped 12% in the past 24 hours, putting BONK ahead of Dogwifhat (Wireless) since it fell by 3%, making it the the biggest meme coin Solana by market capitalization.
In the same way, Basic chain Brett meme coin (BRETT) jumped 8.6%, Mog Coin (based on EthereumKITTY) climbed 6%, and Apu Apustaja (Auxiliary power unit) has climbed 15%. Despite this, the tokens are still down over the week, just like the rest of their meme coin competitors.
In recent weeks, the German Government has begun disposing of more than $3.5 billion worth of Bitcoin seized in criminal cases. At the same time, the defunct exchange Mt. Gox is getting ready to return billions of Bitcoin to its creditors. significant sales pressure drove the price of Bitcoin down 8.2% from last week and the rest of the market followed.
And many meme coins have also dropped. The Solana Michi coin launched by Pump.fun (MICHI) fell 52%, Ethereum’s Pepe (PEPE) is down 18.5% and Popcat (POPCAT) fell by 16%. PEPE rebounded today, climbing 2% and POPCAT also jumped 5%.
One token that has defied the odds, however, is Gigachad (GIGA) which has soared 108% over the week, up 7.5% on the day. This comes after American bodybuilder Mike “Titan” O’Hearn joined the community and began posting about it on social media.
This collaboration made GIGA one of the few coins to be in the green during the week. Billy (BOWL) is one of the only other major tokens that has climbed this week. The token is up 70% this week and 10% on the day.
Billy is currently the the largest Pump.fun token created by far with a market capitalization of $166 million, while Andrew Tate DAD The token is in second place with a market cap of $95 million.
Edited by Stacy Elliott.