Memecoins Roar Back Into Momentum, Fartcoin Surges 27% As Inflation Data Cools, Trump Moots Pro-Crypto Moves

Memecoins roared back into momentum on Wednesday amid a broader rally supported by encouraging inflation data and Donald Trump's pro-cryptocurrency moves.

Memecoins made a strong comeback on Wednesday, supported by encouraging inflation data and Donald Trump's pro-cryptocurrency moves.

Fartcoin, an unusual meme coin, surged over 27% in the last 24 hours, making it the biggest meme coin gainer.

The Solana-based token had amassed a market capitalization of $1.24 billion at the time of writing, with trading volumes increasing by 26% in the last 24 hours.

After fartcoin, another popular community-driven Solana meme coin called dogwifhat, which is based on a meme featuring a dog wearing a hat, also experienced a surge in value.

The billion-dollar-valued cryptocurrency pumped 11%, while its trading volume jumped 75%.

PENGU, the official coin of the popular non-fungible token collection Pudgy Penguins, gained 9.76% to reach a market capitalization of $2.16 billion.

Meme coin heavyweights like Dogecoin and Shiba Inu also gained momentum, rising 3.63% and 2.58%, respectively.

Moreover, Ethereum-based frog-themed coin Pepe and cat-themed Popcat, which was one of 2024's biggest gainers, also rallied, jumping 6% and 7.88%, respectively, in the last 24 hours.

The total meme coin market capitalization increased by 4.83% to reach $106.94 billion, while the overall volume surged by 27.81% to hit $10.74 billion.

The upsurge in meme coins coincided with slower-than-expected growth in core inflation, which was seen as a net positive for risk-on assets.

Additionally, a report indicated hopes for clear cryptocurrency regulations under new SEC leadership in the Trump administration.