Meme coins Surge: The meme coins market saw a big boost on January 3, with its value rising by 15%. Gains in popular tokens like Dogecoin, Fartcoin, and Bonk played a major role in this growth.
Key Highlights:
- Dogecoin (DOGE) increased by 12% growth in one day and 21% in a week, reaching $0.38. This is its highest price since December 18, 2024.
- Fartcoin, a Solana-based meme coin, soared 18% in 24 hours and an impressive 69% over the week, hitting $1.59.
- Bonk climbed 12% in the past day and 7.3% over the week.
As a result of these gains, the cumulative value of meme coins reached $127 billion, exceeding the performance of the wider cryptocurrency market, which saw a mere increase of 1.2% in the same timeframe.
The value of Dogecoin (DOGE) rose by 12% in a single day and saw a weekly growth of 21%, bringing its price to $0.38, a milestone that has not been attained since December 18, 2024.
A new Solana-based meme coin, Fartcoin, has experienced an 18% increase in value over the past 24 hours, currently priced at $1.59. There has seen an impressive 69% rise over the course of a week.
Bonk climbed by 12% over the past day and by 7.3% over the week.
Such increases may have added an overall value of meme coins to around $127 billion, while the rest of the crypto market languished with only 1.2% more in this same time period.
Meme Coins Surge and What Does It Signify?
The meme coins market saw a big boost on January 3, with its value rising by 15%. Gains in popular tokens like Dogecoin, Fartcoin, and Bonk played a major role in this growth.
Memecoins are those cryptocurrencies that ordinary mortals perceive to be jokes or mere assaults of silliness. Whether funny or not, these either raise the price effect using social media buzz, passion among fans, or the endorsement of a celebrity.
Analysts believe that speculative trading brings one of those frenzies strong enough to wave on an otherwise volatile market, According to analysts. Thus typically, traders will spend much time hunting for sweet thrills-parallel yet promising profitable assets somewhere in this market.
“It’s humor, novelty, and a little bit of hype,” says investment guru Michael Ashley Schulman. Events such as Bitcoin’s ascension to $108,000 and a newly elected Trump have thus fueled an even more extensive memecoin craze.
Fartcoin and Its Unexpected Rise
One standout is Fartcoin, a Solana-based memecoin inspired by the AI agent Truth Terminal. Initially dismissed as a joke, it has gained significant traction, rising nearly 700% in the last 30 days.
Chris Akhavan from Magic Eden points out that meme-coins have been driving growth in decentralized exchanges (DEXs). Their fast-moving nature makes them hard for centralized exchanges (CEXs) to handle.
Memecoins Show No Signs of Slowing Down
The phenomenon of the meme coin rally underscores the vital role that community support and speculative interest play in facilitating extraordinary growth. While these tokens may have begun as mere jokes, they are progressively becoming an essential aspect of the crypto market, indicating their ability to yield substantial profits while also presenting significant risks.
