Get your weekly, bite-sized digest of meme coin news.
This week read about:
• Meme Coin News: Market Highlights
• Solana-Based ACT and PNUT Surge on Binance Listing News
• Elon Musk-DOGE-Inspired Coins Jump Past DOGE’s Gains After Trump’s Win
• KAMA and TRUMP, MAGA Coins Drop 60%-97% Post-Election
__________
Meme Coin News: Market Highlights
Meme coins are having another green day.
Over the past 24 hours, the meme coin market capitalization has increased by 18.6% to $94.8 billion. This is up from $59 billion this time last week.
About a third of the top 100 coins per market cap are red today.
At the top of this list stands Maga (TRUMP), having shed nearly 26% off its price over the past 24 hours.
Next are Zerebro (ZEREBRO) and MSTR2100 (MSTR), each with a drop of around 18%.
At least nine other coins saw double-digit decreases in this time period.
Now looking at the green list, we find Act I: The AI Prophecy (ACT) at the top. It appreciated 1,323.7% in a day to the price of $0.3282.
Peanut the Squirrel (PNUT) comes next on the green list, having seen a 237.5% rise to $0.3642.
Five coins have recorded increases in the 30%-40% range, while many more appreciated in the 10%-29% range.
Now zooming into the top 10 meme coin list, we find that only one is down.
Turbo (TURBO) is the only coin whose price went down over the last 24 hours. It fell 1.53% to $0.00902.
On the other hand, Dogelon Mars (ELON) and Dogecoin (DOGE) are the day’s highest gainers, having seen increases between 24% and 31%.
Notably, three other coins saw double-digit increases, meaning that half of the top 10 list did so.
The smallest rises are Baby Doge Coin (BABYDOGE)’s and Memecoin (MEME)’s: 3.4% and 3.6%, respectively.
Solana-Based ACT and PNUT Surge on Binance Listing News
In meme coin news today, two Solana-based coins are the day’s best performers bay far. They’ve seen massive increases over the past 24 hours.
This follows the announcement by the major crypto exchange Binance that it would be listing these two coins.
“Binance will list Act I: The AI Prophecy (ACT), Peanut the Squirrel (PNUT) and open trading for the following spot trading pairs at 2024-11-11 10:00 (UTC),” said the exchange.
The listing fee is 0 BNB, it added.
Also, the exchange added seed tags to the two meme coins as identifiers given that these are new coins and, hence, more prone to risk and volatility.
#Binance will list Act I : The AI Prophecy $ACT and Peanut the Squirrel $PNUT with Seed Tag Applied.
Read morehttps://t.co/CmJRyTaS8I pic.twitter.com/1XHISDTOY9
— Binance (@binance) November 11, 2024
ACT has increased by nearly 1,324%, trading at $0.3282. The price continues rising at the time of writing.
The coin is outperforming both the global crypto market and similar meme cryptocurrencies.
Additionally, the price is up 2086.6% in a week and is slightly down from its all-time high of $0.4094 hit earlier today.
Its market cap stands at $413,134,622, ranking #199.
ACT all-time price chart:
Similarly, PNUT keeps rising. It’s now up 353%, hitting a new all-time high of $0.464 at the time of this writing.
It’s also up 725% in a week.
Furthermore, its market cap is higher than ACT’s: $472,896,997, now ranking #178.
PNUT all-time price chart:
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Elon Musk-DOGE-Inspired Coins Jump Past DOGE’s Gains After Trump’s Win
Certain coins related (by name) to Tesla’s Elon Musk seem to have benefited significantly from the outcome of the US Presidential election.
More specifically, they seem to be reacting positively to the apparently close relationship between Musk and President-elect Donald Trump.
Additionally, not only are some ‘Elon Musk’ coins rising but so are those named similarly to the popular Dogecoin (DOGE), given Musk’s earlier support for the meme coin.
Dogelon Mars (ELON), for example, is now up 33.5% in a day, as well as 81.6% in a week and 86.6% in a month.
That said, its current price is 90.6% lower than the all-time hit three years ago. It’s now trading at $0.0000002391.
Another coin, Department Of Government Efficiency (D.O.G.E.), appreciated 27.4% in 24 hours and 481.4% in a week.
Previously, Trump said that Musk would run a department called ‘the Department of Governmental Efficiency (D.O.G.E.)’, and Musk even discussed plans for such an agency during a rally.
Hence, a coin was (unsurprisingly) born. This is a young token that hit its all-time high of $0.00001987 in September this year, falling nearly 100% since.
It is currently trading at $0.0000003828.
D.O.G.E. 7-day price chart:
At the same time, Dogecoin appreciated 21.6% in a day to $0.2891.
It’s up 85.4% in a week and 158.2% in a month, while it’s down 61% from the ATH of $0.7316 recorded in 2021.
That said, Dogecoin has the highest market among these coins by far and is not only the only one in the top 100 per market cap category, but it’s also the first meme coin per market cap and the sixth coin in the overall market.
You might also like Dogecoin Price Forecast: Can DOGE Hit $3 with Golden Cross on the Horizon? Analyst Weighs In
KAMA and TRUMP, MAGA Coins Drop 60%-97% Post-Election
Given that we followed what had been happening with the political coins related to the two major presidential candidates up until the election, we thought we might check up on them one-week post-election as well, now that the results are in.
As is well-known, Donald Trump defeated Kamala Harris in the 2024 election, becoming the US President for another four years.
In other meme coin news today, Kamala Horris (KAMA) is down 10.3% in a day, trading at $0.0004404. It also fell 96.8% over the past week.
KAMA 7-day price chart:
Furthermore, MAGA (TRUMP) and Maga Hat (MAGA) are red as well.
They fell 13% and 7% over the last 24 hours to $1.47 and $0.00007117, respectively.
Additionally, the former MAGA is down 60% in a week, and the latter decreased 63% in the same period.
MAGA (TRUMP) 7-day price chart:
Additionally, certain investors lost money on Trump-related coins.
theunipcs.eth(@theunipcs), a diamond-handed believer!
He aped into $DOGE at $2.7M mc, spending 235 $ETH($584K) to buy 33.35M $DOGE($4.7M), with an unrealized profit of $4.12M!
He aped into $MAGA at $3M mc, spending 18.45 $ETH($57K) to buy 6.27B $MAGA($452K), with an unrealized… pic.twitter.com/QNeTC3ydT0— Lookonchain (@lookonchain) November 8, 2024
It’s likely that this is the end of the road for KAMA and that it will not see significant recovery in the near term, at least, given her exit from the current crypto narrative.
You might also like Will Trump’s Win Push Bitcoin to $100K? Experts Weigh In
The post Meme Coin News: Solana-Based ACT and PNUT Skyrocket on Binance Listing News appeared first on Cryptonews.
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