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In summary
- Memecoins have shown extreme volatility following Bitcoin’s record high, with Ski Mask Dog (SKI) leading with a weekly rise of 862%.
- Popular tokens like Dogecoin (DOGE) and Shiba Inu (SHIB) rose moderately, while memecoins like HAWK fell sharply by 92%.
- Bitcoin surpassed $100,000, boosted by the approval of ETFs in the US and the electoral victory of Donald Trump.
Memecoins are making double-digit moves in both directions after Bitcoin broke the $100,000 mark.
The biggest winner is the Base chain token Ski Mask Dog (SKI) which is up 50.8% on the day and 862% on the week, after news broke that a US congressman . bought it saying “I liked the coins.”
Other notable tokens are Gigachad (GIGA) which rose 36% after its listing on the Coinbase and Kucoin exchanges, the retro internet meme Keyboard Cat on Base (KEYCAT) which rose 21.8%, and the memecoin created on Pump .fun Michi (MICHI) which rose 21.3%.
While these tokens have seen major moves, none of the top 10 meme tokens have reached double digits. Dogecoin (DOGE) is up 6.6% in the last 24 hours, Shiba Inu (SHIB) is up 4.2%, and Pepe (PEPE) is up 4.6%. Meanwhile, Dogwifhat (WIF) fell 3.5%, Bonk (BONK) fell 1.1%, and Popcat (POPCAT) fell 3.9%.
Outside of the top ten, there are also some big losers.
Truth Terminal has stated that Fartcoin (FARTCOIN) is down 26.5%, the viral pygmy hippo Moo Deng (MOODENG) is down 19.5%, and the famous token based on the TikTok meme Just a chill guy (CHILLGUY ) has fallen 17.7%.
But that’s not all, there is more bleeding in the streets. Dolos the Bully (BULLY) is down 16.5%, Non-Playable Coin (NPC) is down 12.9%, and the artist-led token Fwog (FWOG) is down 9.4%.
However, the biggest loser of the day, apparently, is Hailey Welch and her Solana-based memecoin (HAWK). At launch, it skyrocketed to an impressive market capitalization of $491 million. But HAWK has since fallen 92% to a market cap of just $35 million. This drop was followed by an avalanche of “swindler” accusations, with traders saying they were filing complaints with the SEC.
This all happens after Bitcoin (BTC) finally surpassed the $100,000 milestone. Its recent rise was motivated by a series of positive signs for the leading Cryptocurrency; including the January approval of Bitcoin exchange-traded funds (ETFs) in the US, pro-crypto candidate Donald Trump winning the presidential election, and the promise of a change in the leadership of the Securities and Exchange Commission (SEC).
Edited by Stacy Elliott.
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