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Receive your weekly, concise summary of meme coin updates.
This week, explore:
• Meme Coin News: Market Overview
• Solana-Based ACT and PNUT Rise Following Binance Listing Announcement
• Coins Inspired by Elon Musk and DOGE Surge Beyond DOGE’s Gains After Trump’s Victory
• KAMA and TRUMP, MAGA Coins Plummet 60%-97% After Election
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Meme Coin News: Market Overview
Meme coins are experiencing another positive day.
In the last 24 hours, the market capitalization for meme coins has risen by 18.6% to $94.8 billion, up from $59 billion a week ago.
Approximately one-third of the top 100 coins by market cap are in the red today.
Leading this list is Maga (TRUMP), which has dropped nearly 26% in price over the past 24 hours.
Following are Zerebro (ZEREBRO) and MSTR2100 (MSTR), each experiencing a decline of about 18%.
At least nine additional coins have recorded double-digit losses during this timeframe.
Turning to the gainers, Act I: The AI Prophecy (ACT) tops the list, having surged 1,323.7% in a single day to reach $0.3282.
Peanut the Squirrel (PNUT) follows closely, with a 237.5% increase to $0.3642.
Five coins have shown growth in the 30%-40% range, while numerous others have risen between 10%-29%.
Focusing on the top 10 meme coins, only one has declined.
Turbo (TURBO) is the sole coin that has decreased in price over the last 24 hours, falling 1.53% to $0.00902.
Conversely, Dogelon Mars (ELON) and Dogecoin (DOGE) are the day’s top gainers, with increases ranging from 24% to 31%.
Notably, three other coins also experienced double-digit gains, indicating that half of the top 10 list achieved this.
The smallest increases were recorded by Baby Doge Coin (BABYDOGE) and Memecoin (MEME), at 3.4% and 3.6%, respectively.
Solana-Based ACT and PNUT Rise Following Binance Listing Announcement
In today’s meme coin news, two Solana-based coins are the standout performers, showing significant gains over the past 24 hours.
This follows the announcement from major cryptocurrency exchange Binance regarding the listing of 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),” stated the exchange.
The listing fee is 0 BNB, it noted.
Additionally, the exchange has applied seed tags to the two meme coins as identifiers, considering they are new and thus more susceptible 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
https://t.co/CmJRyTaS8I pic.twitter.com/1XHISDTOY9ACT has surged nearly 1,324%, trading at $0.3282, with the price continuing to rise at the time of this report.
The coin is outperforming both the overall crypto market and other similar meme cryptocurrencies.
Moreover, the price has increased by 2086.6% over the week and is slightly below its all-time high of $0.4094 reached earlier today.
Its market capitalization is $413,134,622, placing it at rank #199.
ACT all-time price chart:
Source: coingecko.com
In a similar vein, PNUT continues to rise, now up 353%, reaching a new all-time high of $0.464 at the time of this writing.
It has also increased by 725% over the past week.
Furthermore, its market cap exceeds that of ACT, standing at $472,896,997, currently ranking #178.
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PNUT all-time price chart:
Source: coingecko.com
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Elon Musk-DOGE-Inspired Coins Surge Beyond DOGE’s Gains After Trump’s Victory
Several coins associated (by name) with Tesla’s Elon Musk appear to have gained significantly from the results of the US Presidential election.
Specifically, they seem to be responding positively to the perceived close connection between Musk and President-elect Donald Trump.
Additionally, not only are some ‘Elon Musk’ coins rising, but those similarly named to the popular Dogecoin (DOGE) are also experiencing gains, given Musk’s previous endorsement of the meme coin.
Dogelon Mars (ELON), for instance, has risen 33.5% in a day, along with increases of 81.6% over the week and 86.6% over the month.
However, its current price is still 90.6% lower than its all-time high from three years ago, now trading at $0.0000002391.
Another coin, Department Of Government Efficiency (D.O.G.E.), has appreciated 27.4% in 24 hours and 481.4% in a week.
Previously, Trump mentioned that Musk would oversee a department called ‘the Department of Governmental Efficiency (D.O.G.E.)’, and Musk even discussed plans for such an agency during a rally.
Consequently, a coin was created. This relatively new token reached its all-time high of $0.00001987 in September this year, but has since fallen nearly 100%.
It is currently trading at $0.0000003828.
D.O.G.E. 7-day price chart:
Source: coingecko.com
Meanwhile, Dogecoin has risen 21.6% in a day to $0.2891.
It has increased by 85.4% over the week and 158.2% over the month, although it remains down 61% from its all-time high of $0.7316 recorded in 2021.
Notably, Dogecoin has the largest market cap among these coins and is not only the only one within the top 100 by market cap but also ranks as the leading meme coin by market cap and the sixth overall in the 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 Plummet 60%-97% After Election
Having monitored the performance of political coins linked to the two main presidential candidates leading up to the election, we decided to check in on them one week post-election, now that the results are confirmed.
As is widely known, Donald Trump triumphed over Kamala Harris in the 2024 election, securing the US Presidency for another four years.
In other meme coin news today, Kamala Horris (KAMA) has decreased by 10.3% in a day, trading at $0.0004404. It has also fallen 96.8% over the past week.
KAMA 7-day price chart:
Source: coingecko.com
Additionally, MAGA (TRUMP) and Maga Hat (MAGA) are also in the red.
They have declined by 13% and 7% over the last 24 hours to $1.47 and $0.00007117, respectively.
Moreover, MAGA has dropped 60% over the week, while MAGA has decreased by 63% during the same timeframe.
MAGA (TRUMP) 7-day price chart:
Source: coingecko.com
Additionally, some investors have incurred losses 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
This may signal the end for KAMA, suggesting it may not experience a significant recovery in the near future, particularly given its departure 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.
