Simply put
- Dogecoin (Doge) is leading the meme coins ahead of Pump.Fun’s pump token sales.
- Memes are currently outpacing major cryptocurrencies like Bitcoin and Ethereum.
- Predictors suggest that Myriad Think Pump’s ICO will sell out within the first hour on Saturday.
Dogecoin (Doge) is seeing significant movement in the meme coin market, rising 12% in just 24 hours as traders gear up for the initial coin offering (ICO) of pump tokens from the Solana-based platform Pump.Fun.
The meme coin category has gained momentum, outperforming major players like Bitcoin and Ethereum. According to Coingecko, meme coins saw a 13.9% increase over the last 24 hours, compared to 4.9% and 6.6% for BTC and ETH, respectively.
Currently priced above $0.20, Doge has climbed 23% over the past week, making it one of the top gainers among the ten largest cryptocurrencies by market cap, with XRP also rising by more than 25%.
This surge in the meme coin sector was bolstered by even more substantial gains from established Ethereum-based options like Pepe (up 15.8%) and Mog Coin (up 31.6%) during the same period.
At the same time, Bitcoin reached its highest levels in two days, and the meme coin category has appreciated over 21% weekly. This indicates renewed interest in more volatile assets, particularly those making their debut on platforms like Pump.Fun.
On Saturday, crypto traders will have new opportunities to invest in the potential of token launchpads like Meme Coins and Pump.Fun, with Solana as the base platform hosting the ICO.
The starting price for the tokens is set at $0.004, targeting a $4 billion fully diluted valuation (FDV). The platform permits users in the US and UK to purchase up to 15% of the total supply through six central exchanges participating in the ICO.
There has already been a notable demand for these tokens among traders, evidenced by price surges ahead of market availability, with some trading above $0.005. A trading platform has compiled approximately $100 million in PERPS volume over the last 24 hours.
Will this demand result in a swift sellout of the anticipated 150 billion pump tokens? That remains an open question, as Myriad is encouraging users to make predictions about the likelihood of the ICO selling out within its first hour.
As of Friday morning, the odds predicting a “yes” on selling out within the first hour stood above 78%, reflecting an 8% increase in the last day.
The excitement surrounding meme coins continues, with newer releases like Fartcoin and PNUT also seeing gains of 12% and 25.5%, respectively, in the last 24 hours prior to the pump’s launch.
