Baby Pengu, Shoggoth, Strips Finance: Meme Coins and DeFi Platforms Making Waves in Crypto Trading

In the fast-paced world of crypto trading, meme coin and decentralized finance (DeFi) platforms are generating curiosity among investors.

Three tokens that have been making waves Sunday are Baby Pengu, Shoggoth, and Strips Finance.

While Baby Pengu has experienced a dramatic surge of over 331%, fueled by its charming baby penguin branding, Shoggoth has captured attention with its unique nod to H.P. Lovecraft’s eerie creations — all while riding a wave of more than 126% growth.

Meanwhile, Strips Finance is carving out a niche in the DeFi space, providing a platform for users to hedge and speculate on interest rate derivatives.

Here’s a closer look.

Baby Pengu (Base:BABYPENGU)

Baby Pengu (BABYPENGU) operates on the Base blockchain. As of Dec. 22, it has experienced significant price volatility, last seen surging over 331% at last check Sunday, reaching approximately $0.29 per token.

The token’s total supply is capped at 1 billion, with about 186 million tokens currently in circulation, resulting in a market capitalization around $54 million, according to Coinbase.

Trading activity is primarily conducted on decentralized exchanges, with Uniswap V2 (Base) being a notable platform for BABYPENGU transactions.

The meme coin, as its name suggests, got its logo from the illustration of a cartoon baby penguin. See the chart below.

Shoggoth (SOL:SHOGGOTH)

SHOGGOTH is up by more than 126% at last check on Sunday.

The coin’s market cap currently hovers at around $56.7 million.

A meme token on the Solana blockchain, Shoggoth was named after the fictional creature found in author H.P. Lovecraft’s stories. It was first launched on the Pumpfun platform, and has a circulating supply of 1 billion tokens.

Shoggoth trades actively on decentralized exchanges like Raydium and, as of Dec. 22, it has a daily trading volume of approximately $6,340.

Despite its niche appeal and satirical undertones, Shoggoth has seemingly captured the imagination of crypto traders. See the chart below.

Strips Finance (STRP)

Strips Finance (STRP) is a decentralized platform that focuses on interest rate derivatives, allowing users to speculate and hedge on interest rate movements.

Operating on the Arbitrum and Binance Smart Chain (BSC) networks, Strips Finance offers decentralized exchange services for interest rate swaps and fixed-income products.

Its native token, STRP, is up over 81% at last check Sunday. It’s currently trading around $1.03, with a market capitalization just below $33 million and a circulating supply of 30 million tokens.

STRP can be traded on exchanges such as Sushiswap and Gate.io, with the STRP/USDC.E pair seeing the most activity.