Market Overview
Bitcoin experienced fluctuations but maintained its position above $90,000 following Federal Reserve Chair Jerome Powell's announcement of a quarter-point interest rate cut. Powell's remarks also conveyed a cautious outlook on further easing measures. In contrast, the leading altcoins generally suffered losses, with most concluding the week in negative territory.
The meme coin sector has been particularly hard-hit, though Jelly-My-Jelly (JELLYJELLY) saw a significant surge of 85%. This upward movement was attributed to selective momentum and the inherent volatility characteristic of meme coins, as identified by CoinMarketCap's CMC AI tool.
Reporting from the Solana Breakpoint Conference in Abu Dhabi, an important development was the unveiling of DEX access for nearly all Solana tokens by Coinbase. This move raises questions about its potential to attract new meme coin holders and increase liquidity within the ecosystem.
The past week has presented challenges for meme coin traders, marked by price declines and an increase in exploits.
Recent Incidents and Developments
- •A licensed Trump-themed crypto game is slated for release by year-end, featuring a substantial $1 million prize pool of TRUMP coin rewards on the Solana network.
- •The WeChat account of Binance's newly appointed co-CEO, Yi He, was compromised and used to promote a BNB Chain meme coin. This illicit activity caused the token, Mubarakah, to surge by over 800% before a subsequent crash. On-chain analysis indicated that the perpetrator profited approximately $55,000 after accumulating tokens ahead of the promotional exploit.
- •The official website for Pepe meme coin experienced a front-end exploit. Visitors were redirected to malicious sites, and the attack leveraged Inferno Drainer, a toolkit designed for phishing and wallet draining.
An observation captured at Solana Breakpoint 2025 depicted an anonymous meme coin enthusiast.
7-Day Meme Coin Market Snapshot
The total market capitalization of the meme coin sector decreased by 9% to $40 billion, while trading volume saw a 7% increase, reaching $5.2 billion.
Meme Launchpad Activity
Pump.fun emerged as the dominant platform for meme coin creation, launching over 19,700 tokens within a 24-hour period, significantly surpassing its competitors, according to data from Adam_tehc's Dune dashboards.
The meme coin launchpad has become Solana's highest revenue-generating decentralized application (DApp) over the past week.
Meme Coin Market Performance Relative to Other Crypto Sectors
Engaging in meme coin trading requires a strong mental fortitude to navigate its inherent volatility. The meme coin sector has seen its ranking fall from 6th to 14th week-on-week on DeFiLlama's narrative tracker, indicating a rotation of liquidity into other market segments.
Top 20 Meme Coin Leaderboard
Only three of the top 20 meme coins registered gains over the past week. Pippin (PIPPIN) continued its upward momentum from the previous week, achieving a 58% increase and reaching a new all-time high on December 10th.
However, PIPPIN experienced a 5% decline in the last 24 hours, with on-chain data suggesting coordinated profit-taking activities by large holders.
Meme Coin Charts: 7-Day Insights
Biggest Gainers (7D%)
- •Jelly-My-Jelly (JELLYJELLY): +91.21%
- •pippin (PIPPIN): +57.56%
- •哈基米 (哈基米): +22.21%
- •Rekt (REKT): +19.35%
- •Agenda 47 (A47): +14.59%
Biggest Decliners
- •Fwog (FWOG): -33.98%
- •Wojak (WOJAK): -33.46%
- •Wiki Cat (WKC): -27.77%
- •elizaOS (ELIZAOS): -26.02%
- •Useless Coin (USELESS): -25.08%
Meme Coin News
Binance Insider Buzz Lifts Yellow Fruit Token
Binance has suspended an employee in connection with alleged insider trading, occurring shortly after the launch of its "year of the yellow fruit" promotion. This news coincided with the token's on-chain debut, amplifying its price surge as traders rushed to capitalize on the hype.
The #Binance Futures team has announced the suspension of an employee over alleged insider trading related to the Year of the Yellow Fruit meme coin promotion. This news broke just as the token launched on-chain, driving up its price significantly. #crypto#memecoin#trading
— Binance Futures (@BinanceFutures) June 4, 2024
Chain-Specific Highlights
Solana Memes
- •PUMP, BONK, and TRUMP have all experienced single-digit percentage decreases.
Ethereum Memes
- •Shiba Inu and Pepe saw declines of 6% and 8%, respectively.
BSC Memes
- •MemeCore (M) recorded a gain of 10%.
Sui Memes
- •HIPPO and MemeFi are currently trading in negative territory.
Base Memes
- •DEGEN has risen by 10%.
Next Steps for Traders
- •Thoroughly verify every meme coin before committing to a position.
- •Adhere to trusted links and maintain secure trading practices.
- •Stay informed about developments from Solana Breakpoint for new releases and updates.