Memecoin Markets Up 2%, TRUMP Token Sparks Weekend Rally

While Bitcoin and Ethereum saw modest gains on Saturday, the memecoin sector gained 2% in the past 24 hours, led by Official Trump (TRUMP) with an 8.8% gain.

TRUMP, WZRD, and AIC shine

Money flowed into the memecoin sector this weekend, pushing its total market value up 2% to $49 billion. Dogecoin (DOGE) and Shiba Inu (SHIB), the two largest memecoins by market cap, slipped 0.6% and 0.2%, respectively. In contrast, Pepe (PEPE) rose 1.5%, while Official Trump (TRUMP) rose 8.6%. Official Melania (MELANIA) coin rose just 0.12% in the past day, far behind TRUMP's performance.

TRUMP rose despite unlocking 40 million tokens this week. While TRUMP made significant progress, it ranked only 10th among Saturday's memecoin winners. On April 19, Bitcoin Wizard (WZRD) surged 67.2% and AI Companion (AIC) rose 25.2%.

SIREN rose 19.8%, AIKO jumped 17%, and LOFI recorded a 14.5% gain. Despite today's gains, memecoins have experienced huge losses so far this year. The memecoin economy has shrunk by $78.93 billion so far this year, from $127.91 billion in the first week of January to $48.98 billion currently. Although TRUMP rose 8.8% today, it is still 88.7% below its all-time high. Even the biggest winner in the memecoin economy, WZRD, is 87.3% below its all-time peak. Despite the divergent fortunes within the memecoin sector, the gap between current valuations and historical peaks shows widespread investor caution. As price volatility continues, participants must find a balance between expectations for a rebound and the continuation of losses.