TRUMP meme coin skyrockets 190% in 24 hours, surpassing SHIB and PEPE, while Remittix secures $3.85M for remittance growth.

The sudden TRUMP meme coin launch has stolen the spotlight from popular meme tokens like Shiba Inu (SHIB) and Pepecoin (PEPE).

The TRUMP meme coin experienced a meteoric rise of 190% in 24 hours, surpassing popular meme tokens like SHIB and PEPE in the process. Meanwhile, Remittix, a token focused on cross-border remittances, secured over $3.85 million in funding.

Shiba Inu (SHIB) experienced a decline in momentum recently, despite its past surges and enthusiastic community. Some observers attributed this to the launch of the TRUMP meme coin, which has drawn attention away from SHIB. Some traders shifted toward alternatives that offered more immediate gains, while SHIB developers teased the expansion of ecosystems and DeFi components.

On the other hand, Pepecoin (PEPE) also faced challenges due to the TRUMP token’s rise. The coin’s value decreased by around 5% since Friday as investors pursued more promising opportunities. Pepecoin had initially gained popularity by tapping into internet culture and memes, but the TRUMP token’s presence may have hindered that strategy. Many had expected PEPE to continue rising, but the current downturn demonstrated how meme coins can lose steam when a more captivating story emerges in the market.

The TRUMP meme coin launch was a significant event, with the token rapidly trading up to $54.90 from $17.15 in 24 hours, offering early participants massive gains. The coin was listed on major custodial platforms and non-custodial exchanges, pulling in over $9.6 billion in trading volume and hitting a market cap near $6 billion.

Proponents of the TRUMP token highlighted the former president’s support for cryptocurrencies, while skeptics expressed doubts over whether hype alone could sustain these valuations. In the meantime, meme coin favorites like Shiba Inu and Pepecoin took a back seat.

While the meme coin craze unfolded, Remittix (RTX) pursued a more practical approach. The project aimed to simplify cross-border remittances by allowing users to convert various cryptocurrencies into fiat and deposit funds directly into bank accounts worldwide. The project had sold over 210,000,000 tokens at a new increased price of $0.0221, with a total amount raised exceeding $3,800,000. Some observers believed that tokens like Remittix, which offered a service beyond internet jokes, might attract more stable, long-term interest.