While the Crypto Market Bounces After Paul Atkin's Inauguration

Among all, the official Trump Meme Coin, TRUMP is leading the trend with surging 9% in the past 24 hours

The crypto market continues to heat up following Paul Atkins’ inauguration as the SEC chairman, especially in the meme coin segment where almost all tokens have seen remarkable gains in the past 24 hours.

Among all, the official Trump Meme Coin, TRUMP is leading the trend with surging 9% in the past 24 hours after the U.S. President Donald Trump announces a special dinner for the meme coin holders. This is supposedly the first ever activity for TRUMP holders since the launch of the token.

While DOGE, the first ever meme coin in crypto space, has surged with a decent gain of 4.4%, its closest viral – SHIB has marked a surge of 8.55% in the past 24 hours. The 3rd largest meme coin, PEPE, has also increased 4% today following optimistic market sentiment.

Other popular memes – including BONK, FLOKI and WIF – have seen double digit surge with all pumping 14.34%, 16.55% and 19% respectively. Meanwhile Fartcoin is having a rest as it has surged over 77% in the past month when most meme coins were losing against the trend.

The overall meme coins market cap has surged 6.18% to $56.06 billion today while accumulating a 24 hour trading volume of $8.83 billion – as per CoinMarketCap data.

Meme Coin Trend

Meme coins, cryptocurrencies inspired by internet memes and pop culture, emerged around 2013 with the creation of Dogecoin. Initially, meme coins gained traction through social media hype, particularly on platforms like Reddit and X.

Later, meme coins like Dogecoin experienced a surge in value due to community-driven speculation, especially during the bull market in 2021, which was fueled by celebrity endorsements like Elon Musk’s tweets.

Other meme coins, including Shiba Inu (SHIB) and PEPE, also capitalized on this hype, pivoting on community-driven speculation and integration with real world applications. Their popularity tends to ebb and flow with the broader cryptocurrency market sentiment.