Outside Source
TL;DR
- Popcat (POPCAT) and Pudgy Penguins (PENGU) soared after Coinbase added support, whereas Official Trump (TRUMP) reacted positively to Upbit’s announcement.
- TRUMP’s rally sparked optimism for another bull run, with analysts predicting a potential short-term surge to the $35-$40 range.
Outperforming the Leaders
The meme coin sector has rebounded in the last 24 hours, with its total market capitalization climbing above $78 billion. The biggest tokens of that type – Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE) – have charted some mild gains, while others have stolen the show with much more impressive increases.
Some of the examples include Popcat (POPCAT) and Pudgy Penguins (PENGU). The former’s price has exploded by around 25%, while PENGU is up by approximately 10% for the day.
Perhaps the most likely reason fueling their resurgence is Coinbase’s decision to add support for the assets on the Solana network. The US-based crypto exchange explained that trading “will begin on or after 9 AM PT on 13 February 2025 if liquidity conditions are met.”
“Once sufficient supply of this asset is established, trading on our POPCAT-USD and PENGU-USD trading pairs will launch in phases,” it added.
Another meme coin that has witnessed a significant pump in the last 24 hours is Official Trump (TRUMP). Its valuation has soared by over 10% following an announcement by Upbit.
The leading South Korean crypto exchange allowed users to deal with the following trading pairs: TRUMP/KRW, TRUMP/BTC, and TRUMP/USDT. Thus, it became the latest to embrace the meme coin launched by US President Donald Trump. Other behemoths that previously embraced the asset include Binance and Coinbase.
This happened shortly after TRUMP’s launch last month and could be among the main reasons behind its initial bull run. Recall that its price skyrocketed above $70 mere days after launch, while its market cap reached a whopping $14.5 billion. Over the following weeks, TRUMP has experienced a serious downfall, with its capitalization currently standing at less than $3.5 billion.
Is TRUMP Ready for Another Bull Run?
Numerous industry participants noted the latest revival of the meme coin and, contrary to its downtrend in the past weeks, outlined optimistic predictions.
The X user Crypto Bull claimed that reversal has started, envisioning a pump to the $35-$40 range in the short term.
AMCrypto also weighed in, assuming that TRUMP has entered its “capitulation phase.” They believe that most people who previously entered the ecosystem currently sit on unrealized losses, and “a lot of panic selling is happening.”
“If I’m confident on 2 memes this cycle, TRUMP is definitely one of them,” the analyst concluded.
This article first appeared at CryptoPotato
