The top 10 cryptocurrencies by market cap have been trading sideways, with no significant price moves over the past 24 hours, according to CoinMarketCap. However, the meme coin market has shown strong activity, with tokens like TRUMP, VINE, and FARTBOY experiencing significant price surges.
Official Trump (TRUMP), a meme coin linked to the U.S. President, rose by 12.4%. This jump followed a controversial statement by Donald Trump about political tensions in the Middle East which sparked criticism across both political parties. Despite the backlash, TRUMP token saw a sharp rebound after hitting its lowest price in recent days.
In other meme coin news, Vine Coin (VINE), created by the founder of the Vine app, climbed by 35.4% in the last 24 hours. Similarly, Vader AI (VADER), associated with the Virtuals Protocol, increased by 11.8%, and Dogwifhat (WIF) rose by 3.6%.
The biggest gainer in the meme coin market, however, was Fartboy (FARTBOY), which soared by 66.8% in a single day and 79.5% over the past week. Fartboy, a month-old Solana meme coin centered around a superhero with a gas-related theme, gained traction partly due to National Fart Day celebrations, during which it hosted a $600 giveaway.
Despite these individual successes, the broader meme coin category dropped by 6% overall. The biggest loser in the sector was Alpha (ALPHA), which fell 39.7%. Elon4AfD (ELON4AFD), a token associated with Elon Musk’s endorsement of a German political party, dropped by 38.7%, and Meow (MEOW), a coin inspired by a TikTok cat trend, saw a decline of 19%.
Meme coins have continued attracting attention from both investors and the broader cryptocurrency market, which has seen substantial capital flows. The market capitalization of Bitcoin recently surpassed $850 billion, reflecting the increasing interest and investments in digital assets. According to Glassnode, Bitcoin's realized cap, which reflects the value stored in the network, has surged significantly, absorbing nearly $450 billion in capital since the 2022 crypto market crash.
In addition to Bitcoin, meme coins like TRUMP and FARTBOY demonstrate both the volatility and appeal of digital tokens in today's market. Even with the fluctuations in the broader market, meme coins continue to generate strong interest from buyers, making them an important part of the evolving cryptocurrency landscape.
