U.S. Hearing Recognition Causes Solana Memecoin $SKBDI to Surge 80% – Is the Trend of Meme Coins Resuming in Cryptocurrency?

Key Takeaways:

• A mention of Skibidi Toilet Coin ($SKBDI) in a U.S. congressional session led to a swift increase in its price.
• During a discussion on a bill regarding digital asset acquisitions, Congressman Brad Sherman brought up Skibidi Toilet alongside Bitcoin, Ethereum, Trump Coin, and Mongoose Coin.
• Skibidi Toilet Coin is inspired by a popular YouTube series that has garnered over 65 billion views.

The Solana-based meme token Skibidi Toilet ($SKBDI) experienced an 80% increase following an unexpected reference during a U.S. congressional hearing.

The token briefly captured attention when Representative Brad Sherman mentioned it during a House Financial Services Committee meeting focused on cryptocurrency regulation.

Congressman Ignites Meme Coin Excitement with Reference to Skibidi Toilet

While introducing a bill aimed at permitting unrestricted government acquisitions of digital assets, Sherman listed several cryptocurrencies, including Bitcoin, Ethereum, Trump Coin, Mongoose Coin, and Skibidi Toilet Coin.

JUST IN: Solana memecoin $SKBDI (@SKBDITOILET) surged 80% after “Skibidi Toilet Coin” was mentioned in a Fed meeting https://t.co/MjM8jjzeZ4 pic.twitter.com/6UlZAs2OmC

— BlockNews (@blocknewsdotcom) June 4, 2025

The remark quickly drew the attention of traders, propelling $SKBDI from relative obscurity into the spotlight.

Within hours of the hearing, $SKBDI surged 80% to a value of $0.051876, raising its market capitalization to approximately $3.63 million, as reported by CoinGecko.

Source: CoinGecko

Trading volume also saw a significant increase, reaching $772,084 in the last 24 hours, a rise of 62% compared to the previous day.

Launched in late 2023, Skibidi Toilet is part of a trend of viral meme coins operating on the Solana blockchain.

It draws inspiration from the internet phenomenon “Skibidi Toilet,” a surreal animated series featuring human-headed toilets engaged in combat with humanoid camera- and speaker-headed adversaries.

This unusual series has accumulated over 65 billion views online, primarily on YouTube.

Although the token lacks an official use case beyond meme culture and community interaction, it has still managed to gain popularity. $SKBDI is currently trading nearly 190% above its all-time low, yet remains 95% below its peak of $1.03.

Other meme tokens mentioned during the hearing did not experience the same surge. Trump Coin declined 4.3% to $10.94, while Mongoose Coin fell 1.9% to $0.0161.

Mongoose Coin Source: CoinGecko

The sudden attention on Skibidi Toilet Coin has prompted discussions about whether the meme coin phenomenon is poised for another resurgence.

Solana Cools After Meme Surge, But Network Growth Remains Steady

While $SKBDI captured attention following the mention in the Fed meeting, the broader Solana ecosystem presents a more nuanced scenario.

Solana’s native token, SOL, is currently priced at $154, down 10% since it faced resistance at the $185 level on May 23.

Daily trading volume has also decreased by nearly 20%, raising concerns about short-term momentum and the possibility of revisiting the $142 support level.

Memecoin enthusiasm has not insulated Solana’s native tokens from volatility.

For instance, several well-known Solana-based memes have experienced significant weekly declines; FARTCOIN, POPCAT, and PENGU have lost between 17% and 20%.

The decline in memecoin values coincides with a broader slowdown in DEX activity, which could further impact SOL’s price performance.

Nevertheless, not all indicators are negative. Solana’s total value locked (TVL) has risen to $11 billion, reflecting a 14% increase over the past month.

Platforms such as Raydium and Marinade have led the charge with growth rates of 48% and 28%, respectively, indicating ongoing development momentum despite market fluctuations.

However, persistent concerns regarding validator incentives related to MEV (maximum extractable value) continue to loom large.

Researchers, including Dan Robinson from Paradigm, caution that MEV on Solana, enabled by its high throughput, may adversely affect regular users through practices like sandwich attacks and front-running.

For the time being, while meme excitement may be returning, Solana still faces its own structural challenges.

The post U.S. Hearing Shoutout Sends Solana Memecoin $SKBDI Soaring 80% – Is Meme Coin Mania Back for Crypto? appeared first on Cryptonews.