Luigi Mangione, Daniel Penny & Hawk Tuah Coin: Are They Good Investments?

The meme coin market is said to have gained the most attention in this ongoing bull cycle. With Bitcoin recently surpassing the golden $100k mark

In the ongoing bull cycle, the meme coin market is said to have received the most attention. While tokens in this niche have completely stolen the spotlight, with Bitcoin recently crossing the golden $100k mark and even hitting a new all-time high of $103,647 in early December before retracing, new entrants like Luigi Mangione, Daniel Penny, and Hawk Tuah are among the sea of tokens making top crypto headlines.

In this article, we take a brief look at each of these trending meme coins, highlighting the key elements that have contributed to their growing popularity while also gauging their potential as a cryptocurrency.

Best New Meme Coins Trending Now

Here are some of the meme coins trending in major crypto news:

Luigi Mangione

One of the meme coins themed around the fatal murder of health insurance executive Brian Thompson in Manhattan, New York, is Luigi Mangione. Following news of the arrest of the alleged murderer – Luigi Mangione – on December 9, the token was created.

Prior to the arrest, footage showing how Brian Thompson was murdered in cold blood had flooded the internet. In the footage, a suspect was seen walking close to the deceased before eventually shooting him from the back. According to the police, the suspect is Luigi Mangione.

While there’s no doubt that the broad daylight murder has become the topic of online discussion, there is a twist in the way the social media community now feels about Luigi Mangione. Multiple media reports indicate a surprisingly supportive tilt towards the suspect, especially after his X account was suspended. Elon Musk waded in and quickly reinstated the account amid a strong wave of online commentary about the suspension.

Right now, the 26-year-old Ivy League engineering graduate has become the face of many meme coins. However, among the numerous meme coins themed around the Italian American, Luigi is the only one that has significantly capitalized on the increasing media attention and hype around the murder to go viral, appearing on numerous publications including Bitcoin.com.

Moreover, within two days of its launch, the token saw a sharp rise in its market cap, hitting $60 million before experiencing a heavy pullback. At the time of writing, the token’s market cap dropped to $8 million, indicating that the hype around the token has diminished drastically.

Considering the fact that the token only feeds off the interest in the murder case, it has no long-term sustainability and might even be susceptible to rug pulls and extreme market volatility.

Daniel Penny

Daniel Penny, a new Solana meme coin, is yet another token that has been trending over the past couple of days. Inspired by Daniel Penny – a military veteran who was cleared of a manslaughter charge earlier in the week – this low-cap token has been the subject of online conversation since his invitation to the Army-Navy game became public knowledge.

Don’t forget that the Marine expert was charged for criminal negligence in the death of Jordan Neely last year. The case quickly became the talk of the town, especially after a New York City medical examiner revealed that the death was caused by “compression of the neck.”

Neely was said to have suffered from schizophrenia and was high on synthetic marijuana and was starving before Penny placed him in a restraint learned during Marine Corps training. However, after a lengthy trial, the jury found him not guilty of the second-degree manslaughter charge leveled against him.

Penny was invited by the Vice President-elect of the United States J.D. Vance to join Donald Trump and other major political leaders at the football game. His inclusion among Trump’s suite at the memorable event this weekend caused a 3x surge in the market cap of the token, pushing it above $600k before a correction.

Up 3x now $PENNY Daniel Penny meets Trump today https://t.co/ph81h5JBGQ

While there’s no doubt that $PENNY is among the new tokens trending in crypto news, its frenzy is gradually flaming out. Don’t forget it has no utility and only relies on the hype around the engagement of Daniel Penny with the brand new president of the United States.

Moreover, its extremely low market valuation means the token will be vulnerable to more volatile actions. In fact, just little transactions among its small cohort of traders can trigger heavy price fluctuations for $PENNY.

Hawk Tuah Coin

Hawk Luck Coin

Launched barely a week ago on Solana, Hawk Tuah has been in the news – though not for the right reasons. It was launched by Haliey Welch – a Tennessee native who became famous after her “hawk tuah” catchphrase response in a YouTube interview earlier this year. After amassing hundreds of thousands of followers, Welch started her own podcast – Talk Tuah before finally deciding to launch a token.

In less than hours of its launch, the token hit a $490 million market cap before suddenly retracing more than 90% of its value. Hawk Tuah’s heavy downtrend