The meme coin sector went mostly sideways over the last seven days.
TL;DR
- The overall meme coin market cap went sideways
- Argentine president claimed that he did not promote Libra
- Solana meme coins suffered after Libra rug
- Broccoli skyrocketed and soared by almost 1300%
- A dev climbed the Hollywood sign to promote a meme coin
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Meme Coin Snaps
- The meme coin sector went mostly sideways over the last seven days. But there might be hope ahead as the U.S. Senate confirmed Howard Lutnick as commerce secretary. Lutnick immediately stepped down as the CEO of Cantor Fitzgerald, a firm with ties to Tether.
- Libragate is still the talk of the town at the moment, with information surfacing that it took months to plan and days to unravel, Cointelegraph reported. The Libra co-creator also talked about paying Javier Milei’s sister, Karina Milei, for a token post.
Source: LA NACION
- The U.S. has announced the Cyber and Emerging Technologies Unit (CETU).
The new unit may target crypto scammers soon, just like agencies targeted all the ICO scammers after 2017 and celebrity coin promoters in 2021.
Or not?
This week SEC commissioner Hester Pierce warned meme coin traders that the commission might not bail them out (well, especially after your president launched a couple of dubious ones himself).
“Just because something is out there and it’s popular doesn't mean that it will fit within the SEC jurisdiction. So I just caution people not to assume that there’s going to be an SEC regulatory backstop to everything…”
7-Day Meme Coin Market Snapshot
The overall meme coin market cap dropped from $67.96 billion to $66.61 billion with meme coin FUD reaching extreme levels and many calling for the end of meme coins.
Most of the top meme coins dumped except for a vegetable, Broccoli.
Source: CoinMarketCap
Bitcoin continued its struggle to break out of the $93K-$102K range while some of the majors like Ethereum, XRP and BNB started to show strength. But Solana was hit hard as the $LIBRA fallout spread to Meteora after a video recording implicated CEO Ben Chow (who has since resigned).
Source: CoinMarketCap
Meme Coin Market vs Other Crypto Sectors
DeFiLlama's Narrative Tracker showed that we probably got too excited too quickly as the downtrend continued after the recent HOPIUM injection.
The 30-day trajectory reversal continued and we are about 9% away from hitting the green again.
Source: DeFiLlama
Top 20 Meme Coin Leaderboard
The top meme coins are still holding well, and are not all as down bad as the AI agents like ai16z, which dropped 35%.
Meme Coin Charts: 7-Day Insights
Biggest Gainers
- Toshi (TOSHI): +9.35%
- OFFICIAL TRUMP (TRUMP): +7.05%
- Notcoin (NOT): +9.59%
- Baby Doge Coin (BabyDoge): +4.13%
- dogwifhat (WIF): +2.44%
Biggest Decliners
- Fartcoin (FART): -39.66%
- ai16z (AI16Z): -35.27%
- Pudgy Penguins: (PENGU): -16.01%
- SPX6900 (SPX): -13.66%
- Mog Coin (MOG): -11.79%
Meme Coins by Chain
BSC Memes
Solana Memes
- OFFICIAL TRUMP (TRUMP) wakes up from the dead and is up 7% as they celebrate President Trump Day.
- Unicorn Fart Dust (UFD) soars by 30% while standing strong.
Ethereum Memes
- Neiro (NEIRO) rises by 5% and makes wishes.
- HarryPotterObamaSonic10Inu (BITCOIN) surges by 18% and says it’s funnier if you don’t sell.
Tron Memes
- SUNDOG (SUNDOG) gains 9% as they claim to be guilty as charged.
- Tron Bull (BULL) is up 10% while grabbing the bull by the horns.
Most Tron meme coins have low market caps compared to tokens on chains like Ethereum and Solana, so they are extremely risky until proven otherwise.
SUI Memes
- MemeFi (MEMEFI) rises by 10% but, ngl, if they want more support they need to be more active.
- Sonic Snipe Bot (SONIC) gains 3% and they continue to build regardless.
Most SUI meme coins have low market caps compared to tokens on chains like Ethereum and Solana, so that’s either an opportunity or a red flag depending on your risk tolerance and, ahem, remaining funds.
Base
- Toshi (TOSHI) is up almost 10% and claims their kingdom is strong.
- Mochi (MOCHI) soars 40% while handing out remedies.
Bitcoin Runes
Most Bitcoin Runes have low market caps compared to tokens on chains like Ethereum and Solana, so be careful or you’ll be calling them Ruin tokens.
Meme Coin News
Argentine President Denies Promoting LIBRA
Argentine President Javier Milei has denied endorsing the LIBRA meme coin, which recently experienced a pump-and-dump, causing people to lose a lot of money. He clarified that he only shared information about the token and never encouraged investments.
Milei downplayed the REKTNESS in Argentina, saying that only a few local investors were affected, with most traders from China and the U.S. He challenged claims that 44,000 Argentine investors were involved, stating that the actual number was closer to 5,000 mostly experienced traders.
Milei also defended his interactions with Hayden Davis, a $LIBRA figure, saying he only supported entrepreneurs to get funding. Despite standing by his actions, Milei admitted that there was a political fallout, saying he needs to be more cautious in his role as president.
The controversy has fueled political tensions, with opposition leaders calling for his removal and legal investigations underway. The scandal also shook Argentina’s financial markets, with the S&P Merval dropping 5%.
Libra Mastermind Says It’s Not a Scam
Hayden Mark Davis, a key figure behind the LIBRA token promoted by Argentine President Javier Milei, is under investigation after the token’s value dropped by over 90%, wiping out $4 billion in market cap. MAX PAIN!
Insider wallets reportedly cashed out over $100 million, which Davis now controls. Despite accusations of fraud, he insists LIBRA was not a “random scam” and claims he intends to return collected fees to investors.
The token’s launch involved multiple parties, including Milei, KIP Protocol, and KIP CEO Julian Peh, though KIP denies any direct involvement. After the crash, Milei distanced himself from the project, saying he was unaware of the details.
Davis, who previously launched the MELANIA token in a similar fashion, admitted in an interview with Coffeezilla that he’s holding the funds as “leverage.” Say what?
Dev Climbs Hollywood Sign
Los Angeles police detained a man for climbing the Hollywood sign to promote Vigilante (VIGI), a Solana-based meme coin. The stunt, which involved waving a white flag from the "D" sign, lasted about an hour before authorities intervened.
VIGI's developers had promised a viral marketing campaign after launching the token via Pump.fun on Feb. 15. Following the Hollywood sign stunt, the token’s market cap briefly surged to nearly $4 million before crashing over 70% to $1.3 million.
What Can You Do Next?
- DYOR before aping any presidential tokens, as they have all pumped and dumped so far.
- Don’t just focus on one chain as you can see BSC and Base are performing well for now.
- Meme coins are extremely volatile. Make sure to have a diversified portfolio.
- Consider reinvesting some profits into safer crypto tokens or stables.
- Keep an eye on DOGE for some bullish or bearish catalysts.
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