In a Nutshell
- After a slump, popular meme coins are back on top, thanks to Bitcoin, Ethereum, and Solana's rebound.
- Animal-themed MOODENG and PNUT are leading the charge, climbing over $900 million in trading volume each in the last 24 hours.
- Solana's meme tokens, such as Moo Deng and Peanut the Squirrel, are following suit, soaring to two-month high prices.
Get the Lowdown on SCENE
Resurgence of Previous Year's Popular Meme Coins: Solana and Ethereum Experience Renewed Growth
Welcome to SCENEExciting tokens from the viral meme coin phenomenon of last cycle are skyrocketing in value this week as Bitcoin reclaimed $100,000, Ethereum marked double-digit percentage gains, and Solana hit a two-month high.
Solana's ShowcaseSolana-based meme coins Moo Deng (MOODENG) and Peanut the Squirrel (PNUT) are in the limelight. Both coins have jumped an impressive 143% and 55% respectively within the last 24 hours, reporting more than $900 million in trading volume [CoinGecko]. Although they were trading at market caps of $680 million and $2.4 billion respectively, they are now approximately 80% off their all-time highs, even after their recent surge.
More Solana Meme Coins on the RiseOther Solana meme coins are also on the uptrend, with traders adding risk and propelling the meme coin market by over 23.7% [CoinGecko]. For instance, Fwog (FWOG) and Unicorn Fart Dust (UFD) have risen by 37% and 45% respectively, while Goatseus Maximus (GOAT) has climbed nearly 48% to reach a $125 million market cap. In November, GOAT had a market cap above $1 billion.
The list of rising meme coins doesn't stop there. TikTok-inspired Chill Guy (CHILLGUY) has seen a 33.6% surge, and Ethereum-based NEIRO climbed by 23%. Even meme coins from years ago, like ConstitutionDAO's PEOPLE token, are making waves following the failed 2021 attempt to purchase a U.S. Constitution copy, mirroring the meme coin phenomenon.
The Comeback Kid
Although the debate about the demise of Solana meme coins was a recent topic, Alon Cohen, co-founder of popular Solana token launchpad Pump.fun, previously told Decrypt that he believed meme coins were "here to stay." In late March, Cohen explained that as soon as the major coins stopped falling, meme coin activity quickly stabilized and has since been on an upward trajectory.
This rally follows the same pattern, with Bitcoin, Ethereum, and Solana all recovering. Ethereum and Solana have climbed approximately 27% and 15% respectively in the last week.
Edited by Andrew Hayward
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Enrichment Data:To delve deeper into the revival of meme coins like MOODENG, PNUT, FWOG, UFD, and CHILLGUY, and appreciate their recent trading volume and value increase, it's essential to consider the broader context of meme coins and recent market trends.
Insights on Meme Coins
Meme coins are a group of cryptocurrencies originating from memes and often popular due to social media buzz. Known for their whimsical branding, they can witness dramatic shifts in value based on their social media popularity. The meme coin sector has displayed volatile behavior, boasting a sector market cap of $68.62 billion and a 24-hour trading volume of $15.57 billion as of May 2025 [1].
Current Market Dynamics
- Price Fluctuations: Meme coins have seen a spike in trading volume and value due to social media hype and community involvement. Recovery in coins like Coq Inu and Milady Meme Coin exemplify this volatility [1].
- Notable Coins:
- FWOG, UFD have experienced significant increases, with FWOG rising by 37% and UFD by 45% within the past 24 hours [4].
- CHILLGUY is among the rising meme coins, showcasing recent growth [4].
- Information on MOODENG and PNUT's current state is limited based on the provided data.
Behind the Rise
The surge in meme coins' trading volume and value can be linked to several factors:
- Social Media Power: Social media platforms play a significant role in the popularity of meme coins. A coin's viral status can stir interest and investment [1].
- Community Spirit: Meme coins often have a tight-knit community that fuels their growth through collective investment and marketing efforts [1].
- Market Outlook: The broader crypto market sentiment influences meme coins, as investors search for opportunities in more volatile assets during periods of market optimism [2].
- Dao traders have been closely watching the reclaimed strength of Bitcoin, Ethereum, and Solana, as they believe these cryptocurrencies are driving the comeback of meme coins like Moo Deng, Peanut the Squirrel, Fwog, Unicorn Fart Dust, and Chill Guy.
- In the last 24 hours, meme coins on the Ethereum network, such as NEIRO, have also seen a significant increase in trading volume and value.
- Despite recent gains, meme coins like MOODENG and PNUT are still approximately 80% off their all-time highs, even after their recent surge in trading volume.
- The meme coin market has seen a boost from traders adding risk, with Solana meme coins like Moo Deng, Peanut the Squirrel, Fwog, and Unicorn Fart Dust significantly increasing in value.
- Alon Cohen, co-founder of the Solana token launchpad Pump.fun, previously stated that he believes meme coins are "here to stay" and that their activity stabilizes and continues to grow once major coins stop falling.
- ConstitutionDAO's PEOPLE token, originally from years ago, has made a resurgence following the failed 2021 attempt to purchase a U.S. Constitution copy, mirroring the meme coin phenomenon.
- The broader context of meme coins and recent market trends suggests that their value can be highly influenced by social media buzz, community involvement, and the overall crypto market's sentiment.
