Bonk, Mog and Brett Hit All-Time Highs as Dogecoin Spurs Meme Pump – Decrypt

Multiple valuable meme coins surpassed other coins earlier this week as the post-election surge in the broader crypto market, particularly the resurgence of the original meme coin Dogecoin, increased demand for the volatile asset. This was followed by new all-time highs on Friday and Saturday.

BONK, the second-largest Solana meme coin by market capitalization, hit a new high of $0.000047 on Friday, breaking its record from May. The price rose even further on Saturday, hitting an all-time high above $0.000049. According to data, it is currently up 120% compared to last week. CoinGecko.

This pump appeared after the project launched campaigns such as; Burn up to 1 trillion BONKCurrently valued at over $39 million, it encourages fans and community members to complete social media tasks by Christmas Day based on various engagement criteria. Burning tokens can reduce the supply of tokens, increasing scarcity and, as a result, increasing prices.

However, other major meme coins similarly scored high on Friday without such plans. BRETT, a meme coin on the Ethereum layer 2 network Base, peaked at a new high of over $0.19 late Friday, while Mogcoin (MOG) jumped to a new record price of $0.0000029.

Recent meme coin sensations also hit new highs, such as Goattheus Maximum (GOAT), a token conceptualized by an AI chatbot but created by humans, which soared to $1.30 on Saturday. And Moo Deng (MOODENG), a Solana token inspired by the recently viral baby pygmy hippopotamus, has set a new high price of $0.68.

Earlier this week, PEPE, Cat in a Dog's World (MEW) and FWOG all set new records. Other notable meme coins, such as Solana's Dogwifhat (WIF), are also approaching their respective records.

The memecoin market cap was set after Dogecoin (DOGE), the original memecoin, soared to a nearly three-year high of around $0.43 earlier this week. DOGE's resurgence comes in the context of Elon Musk co-leading a new government effort under President-elect Donald Trump called (as usual) the Department of Government Efficiency. Yes, it is DOGE.