Dogecoin Rises as Pump.fun Token, Official Trump and Melania Meme Coins Jump

Meme coins are once more rising, led by Dogecoin (DOGE), which has climbed 6.7% in the last 24 hours and now more than 18% on the week to $0.20. But other major meme coins have posted much larger gains on the day.

Dogecoin, which ranks 8th among all cryptocurrencies by market capitalization, ranks second in the category with more than $5.7 billion in 24 hour trading volume, trailing only the Ethereum-based Pepe (PEPE) in that metric.

President Donald Trump and First Lady Melania Trump’s official meme coins have gained 10.3% and 32.5% in the last day, respectively. TRUMP and MELANIA are outpacing Dogecoin and the category as a whole, which is up 6.8% in the same timeframe, according to CoinGecko.

The Solana-based tokens lead a growing list of meme coins jumping higher after the launch of PUMP, the official token of the popular Solana meme coin launchpad, Pump.fun. After hosting its initial coin offering (ICO) on Saturday and raising $600 million, PUMP became eligible for trading on Monday and quickly exploded to nearly a $2 billion market cap. 

It has since risen even more, jumping nearly 12% in the last 24 hours to a $2.2 billion market cap. That’s enough to rank it #57 among crypto tokens by market capitalization, according to CoinGecko.

The success of PUMP has pulled up other tokens from the Solana trenches as well, including tokens launched on Pump.fun like Unicorn Fart Dust (UFD), Michi (MICHI) and Just a Chill Guy (CHILLGUY)—all of which have jumped more than 10% over the last 24 hours.

BONK too is up 20% in the last 24 hours, adding to the Solana meme coin’s successful month of gains—which now stand at more than 69% as its own token launchpad, a new rival of Pump.fun, continues to gain steam.  

And while Solana has been the home to much of the meme coin success over the last year, the rise in ETH’s price has been a boon for Ethereum-based memes as well.

Shiba Inu (SHIB) and Pepe (PEPE), the top two meme coins on the Ethereum blockchain, have jumped 7.9% and 11% respectively in the last 24 hours—only outdone by SPX6900 (SPX), the meme token attempting to flip the market cap of the S&P 500.

The token has jumped nearly 25% in the last 24 hours, setting a new all-time high price of $1.89. However, at a market cap shy of $1.9 billion, it remains well shy of the combined $52.56 trillion market cap of the S&P 500 companies.