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The meme coin sector roared back, with its market cap surging 10% to almost $58 billion in the past 24 hours as new Solana token Smog (SMOG) emerged as the star of the week with a 394% pump.
A huge week for meme coins also saw sector titans including Shiba Inu (SHIB) and Pepe (PEPE) make massive comebacks with gains of 165% and 161%, respectively, over seven days.
But it was the rise of the new Solana token SMOG that stole the show, with its table-topping performance over the week and its ability to pump even while others dumped after Bitcoin’s selloff. Its bullish streak continued in the last 24 hours with a 31% surge.
SOL Tokens Lead The Meme Coin Market Comeback
The frenzy surrounding Solana meme coins is playing a big role in the eruption of this new meme coin season with Myro (MYRO) the second-best performer over the last seven days with a 246% pump.
Like SMOG, it continued its positive performance during the past 24 hours with a 14% surge.
One #Memecoin to rule them all! 🚀
Get ready for the greatest #Airdrop in history, distributed on #Solana. 💰
Join #SMOG on Zealy! 🔥
Link in Bio 🔗 pic.twitter.com/vsn4p5cSF4
— SMOG (@SMOGToken) February 8, 2024
Wen (WEN) came in at sixth place with a 153% jump, while Dogwifhat (WIF) was eighth after climbing 128%.
Meme Coin Titans Make A Comeback
Several legacy coins also printed impressive gains during the last week with Pepe (PEPE), Shiba Inu (SHIB) and FLOKI (FLOKI) all making it into the top 10.
Somehow overlooked by CoinMarketCap was a sterling performance by Sponge (SPONGE), which soared 155% over the past seven days to hit a new all-time of $0.003607 at around 6.30 a.m. EST.
The development team behind Sponge is about to launch on multiple top-tier exchanges an upgraded version of the meme coin called Sponge V2.
💥Presale Update!💥
ScottyTheAi #1 #memecoin (w/Ai utility) of 2024$SCOTTY has raised $3.7M
Well on our way to closing out presale and heading for that $100M marketcap.
Congratulation to all the early #Scottydogs in presale 👏
Buy Now: https://t.co/zRmy4g8hfW#BITCOIN… pic.twitter.com/qsczivfVqn
— Scotty The Ai (@ScottyThe_Ai) March 8, 2024
Presales also had a bumper week with Scotty the AI a standout performer. It’s presale added more than $2.8 million during the past seven days to move within a whisker of $4 million in funds raised. It passed the $3 million milestone just 48 hours ago.
Its turbocharged performance was powered by the surging meme coin sector and the alluring appeal of AI, a crypto segment that also had a sterling week
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