Memecoins FARTCOIN, TURBO, and PENGU Are Taking Recovery to a Different Level

The broader crypto space appears to have started recovering from the crypto crash in the last two weeks, but some memecoins are taking recovery to a different level

The broader crypto space appears to have started recovering from the crypto crash in the last two weeks, but some memecoins are taking recovery to a different level, seemingly catching up with Santa in his fast-speed sleigh.

Here's a look at the top memecoins that logged massive gains on Christmas Eve, according to CoinGecko data.

$FARTCOIN – Breaking $1.2 Billion

Relative newcomer FARTCOIN (Fart), which is less than two months old, reached a $1.2 billion market cap Tuesday, to the delight of early buyers.

The meme token spiked by nearly 60% on Christmas Eve, breaching $1.20 amid a month-long rally of 232%, the data showed.

Observers have noted how the community around FARTCOIN appears to be genuine, unlike other token communities that are said to be filled with bots that automatically respond with a standard message when topics relating to the coins trend.

There were also calls for the memecoin to be listed on the Robinhood app and other platforms like Binance, one of the world's leading cryptocurrency exchanges.

“I think @RobinhoodApp lists fartcoin before @binance,” one user said.

$TURBO – From $69 to $780M

TURBO (Sp), an AI-conceived memecoin that started with a budget of $69, soared to a market value of $780 million on Christmas Eve.

The meme token surged by 28.6% Tuesday night, with its chart showing a sudden, steep upward movement.

Unlike FARTCOIN, TURBO is much older in the crypto space and first saw a major spike around June. Since then, the coin has continued rising and gained the attention of the crypto community.

TURBO is listed on some of the world's largest exchanges and platforms, including Binance, Coinbase, KuCoin, Kraken, OKX, Bitfinex, Bitget, and more.

“This is not even a fraction of potential this token has,” one user said during TURBO's Christmas Eve spike.

$PENGU – The Speed of Light

PENGU (Pengu), the official token of the Pudgy Penguins non-fungible tokens (NFTs) collection, is less than two weeks old and already the fifth-largest memecoin, according to CoinGecko's rankings.

With a nearly 26% surge overnight, PENGU is now set to be a long-term Top 10 ranker, surpassing the market capitalization of almost-three-year-old dogwifhat (WIF).

PENGU is considered one of the fastest-rising memecoins as it continues to hold its place in the top ranks. Other coins have made a similar move, rising fast, but also plunging just as fast.

So far, PENGU is retaining momentum and some crypto users expect the meme token to become the number one player in this bull cycle.

Some other memecoins that also had a good run on Christmas Eve include SPX6900, FWOG, and MEOW.

In comparison, Bitcoin was up by 4.5% overnight, while Ethereum and XRP both added some 3%. All other top altcoins were also in the green, but none logged a double-digit gain.