Several valuable meme coins hit record lows on Friday and Saturday, following other coins earlier this week, as cryptocurrency markets surged after the election and the resurgence of the original meme coin, Dogecoin, in particular increased demand for volatile assets. It hit a record high.
Bonk (BONK), the second-largest Solana meme coin by market capitalization, hit a new high of $0.000047 on Friday, breaking its May record. And on Saturday it rose even further, hitting a new all-time high above $0.000049. It is currently up 120% compared to last week, according to data from CoinGecko.
The pump comes after the project launched a campaign to burn up to 1 trillion BONK (currently equivalent to $39 million) by Christmas based on various participation criteria and prompted fans and community members to complete social media tasks. Burning tokens may reduce token supply, increasing scarcity and resulting in higher prices.
However, other major meme coins also hit high points on Friday without a similar plan. Brett (BRETT), a meme coin based on the Ethereum layer-2 network, hit a new high above $0.19 late Friday, while Mog Coin (MOG) jumped to a new record price of $0.0000029.
Recent meme coin sensations such as Goatseus Maximum (GOAT), a token conceptualized by an AI chatbot but created by humans, also surged to $1.30 on Saturday, hitting a new high. And MOODENG, a Solana token inspired by the baby pygmy hippopotamus that recently went viral, set a new high of $0.68.
Earlier this week, Pepe (PEPE), Cat in a Dog’s World (MEW), and Fwog (FWOG) all set new records. Other notable meme coins, such as Solana’s Dogwifhat (WIF), also came close to their respective records.
The meme coin market capitalization comes after Dogecoin (DOGE), the first meme coin, surged to its highest price in three years at around $0.43 earlier this week. DOGE’s revival comes amid a relationship with Elon Musk (as usual) who will co-lead President-elect Donald Trump’s new government effort, which he calls the Department of Government Efficiency. Yes, DOGE
daily report newsletter
Start your day today with top news stories, original features, podcasts, videos and more.
