As Bitcoin sets a new record, an unexpected segment of the crypto universe re-emerges: memecoins. Once considered mere speculative curiosities, they now attract massive trading volumes and unprecedented media attention. Digital irony is becoming the engine of the market, sometimes overshadowing so-called serious projects.
In short:
Bitcoin reaches a new all-time high of $116,000, amidst speculation of a decrease in interest rates in the United States.
This record has triggered a speculative wave on memecoins, with double-digit increases and massive trading volumes.
The memecoin category is up 10% on the day, outperforming Bitcoin and Ethereum in terms of momentum.
Despite the excitement, these cryptos remain highly volatile and risky, their success relying more on community engagement than on fundamentals.
The leaders of the frenzy: PENGU, Dogecoin, and WIF steal the spotlight from Bitcoin
Bitcoin has reached a new all-time high of $116,000 on Thursday. This record has not only galvanized institutional investors but has also sparked a frenzy in one of the most unexpected segments of the crypto market: memecoins.
Some cryptos show double-digit increases and explode trading volumes in proportions rarely seen since the previous speculative cycle.
At the forefront of the movement, three tokens stand out for their performance and ability to capture market attention:
PENGU, a crypto based on Solana and linked to the Pudgy Penguins universe, surged by +29% in 24 hours, reaching $0.019;
Dogwifhat ($WIF ), another product of the Solana ecosystem, records a gain of +14%, reaching $1.01;
Dogecoin ($DOGE ), the elder of memecoins, climbs by +7%, to $0.186, maintaining its position in the top 100 most traded assets.
These three cryptos alone have generated over $4.5 billion in trading volume in the last 24 hours. A performance that far surpasses that of other market segments, including Bitcoin itself.
These figures reflect a reality: in a context of high liquidity and bullish euphoria, memecoins have become a speculative barometer, capable of amplifying underlying trends. Far from being anecdotal, these movements testify to the community and algorithmic power of the Solana ecosystem, now at the heart of this new wave.
Bonk, Fartcoin, and the rise of outsiders
In the wake of the leaders, a cohort of second-tier memecoins has also experienced a spectacular resurgence. Among them, Bonk (BONK), also issued on Solana, saw its price rise by 13% in 24 hours, reaching $0.0000228.
Its increase is partly explained by the success of its Launchpad LetsBonk, which has surpassed Pump.fun in terms of tokens launched per day. Fartcoin (FARTCOIN), another crypto with parodic undertones, is not far behind with a rise of 12.5%, to $1.21.
As for Moo Deng (MOODENG), its jump of 13% comes on the anniversary of the pygmy hippopotamus it is linked to, an event covered by the Thai zoo Khao Kheow Open Zoo.
These are cryptos that, although extremely volatile, benefit from a well-oiled mechanism: offbeat storytelling, ultra-engaged communities, and social leverage through creation platforms like LetsBonk or Pump.fun.
This collective dynamic has contributed to an overall increase of 10% in the memecoin sector in 24 hours. Also noteworthy is the performance of marginal yet active tokens, such as FWOG (+18%), NEIRO (+12%), PNUT (+22%), and POPCAT (+16%), which illustrate the extent of the phenomenon beyond the leading roles.
However, this resurgence in popularity raises fundamental questions about the sustainability of these performances. As the article reminds us, these tokens are intrinsically more volatile and risky than other cryptos, a structural characteristic that contributes to their success... and their danger. As whales seem to be repositioning on Bitcoin and certain minting platforms explode, the temptation for new ATHs settles in the minds of traders.