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What Happened Last Week in Memecoins in the Crypto World (Dec. 25th - Dec. 31st)

What Happened Last Week in Memecoins in the Crypto World (Dec. 25th - Dec. 31st)

By Guest Author

January 3, 2025

Key highlights:

Pepe coin took off under the leadership of Elon Musk and Bonk resurfaced to reclaim Solana’s memecoin crown, putting PENGU in a close second.
Mira Dad’s public apology and recompense for a "test token" incident demonstrated that even in the tumultuous memecoin ecosystem, it’s all about accountability.
In the meantime, PHNIX became the first XRP Ledger memecoin listed on a major exchange, indicating the growing memecoin universe.

The memecoin marketplace is a scruffy, wilful place, and you can earn money and lose it in an instant. This week was no exception as several memecoins went through price extremes. Here we cover the top memecoin news stories of the week, as well as the most recent CoinSniper quests.

Unlike any other meme coin this week, Pepe Coin (PEPE) grabbed all the attention as its price shot up by 20%. The catalyst for this surge? None other than the richest man in the world, Elon Musk, who changed his X profile pic to a Pepe image.

Musk’s influence on the memecoin landscape is well-known, and his support for Pepe Coin looks like it had a similar impact as his previous support for Dogecoin (DOGE). The token’s market cap has increased from nearly nothing to more than $8 billion this year, making it one of the industry’s most successful memecoins.

Mira Dad's Apology and Reimbursement

In other crypto news, crypto fans listened to the tale of Siqi Chen, the father who had created the MIRA token. Chen found himself in hot water after launching a "test token" called ZERO, which he intended as an experiment to see if anyone would actually buy it. He was shocked when people did, and even sold 40% of the stock (for an estimated 444 SOL).

Chen, knowing that he made a mistake, came on X to apologize to the public and promised to "replace every single wallet that lost money due to [his] actions".

Bonk reclaims the top spot in Solana's memecoin scene

Remember Bonk? That dog memecoin that blew up the Solana ecosystem earlier this year? Well, it’s back in the news because it has once again regained its status as the most active memecoin on the Solana blockchain. This rebound comes on the heels of a crowdstaked token burn and price jump that drove Bonk’s price up by 3.7% during the week.

It was an update that rocked the Solana memecoin community — particularly those who had previously dismissed Bonk as an out-and-out trend.

BonkDAO announces plans to burn 1.69T BONK in "Burnmas" event

BonkDAO (the community behind the Bonk memecoin) rolled out a massive token burn event, hoping to deplete the token supply and potentially drive up the price of the memecoin.

PENGU dethroned, but still holding strong

While Bonk rejoiced at the re-emergence of its crown, PENGU, the penguin memecoin which previously topped the chart, was overtaken. But PENGU isn’t so far behind, maintaining a resounding second place with a market cap of $2.15 billion.

Both Bonk and PENGU still dominate the Solana memecoin scene despite the position change, reflecting the fierce competition and development of this fast-moving ecosystem.

The XRP Ledger Welcomes PHNIX

Going beyond the Solana network, crypto saw the addition of a new memecoin to the XRP Ledger. The token, PHNIX, which is designed to symbolise the rise of the phoenix, has been listed on MEXC, making it the first XRP Ledger memecoin to be listed on a major centralized exchange.

This is another indication of the growing interest in memecoins in the XRP Ledger and the introduction of projects such as ARMY, 589, XPILL, and RIPPIE. As the XRP community builds on its own meme coins, the crypto ecosystem keeps diversifying.

Animoca Co-Founder's X Account Hacked to Promote Fake Crypto Token

In a disturbing twist, Animoca Brands co-founder Yat Siu’s X account was hacked in order to market a bogus crypto token. The hackers drew on Siu’s account to post an announcement for a new token called $ANIMOCA that turned out to be a hoax.

CoinSniper Quests: FOX, IAI, and WW2

Meanwhile, our team has been at work as usual, introducing a series of challenging Quests for our CoinSniper community to complete. Let’s take a closer look at some of the outstanding projects on these Quests:

FOX Funds (FOX)

The FOX Funds (FOX) Quest on BNB Chain is about a meme token with a twist. To be eligible, you’ll have to have FOX tokens in your wallet and do a few other things, such as subscribe to their social media. The points are an add-on in the Quest so it’s an easy way to get involved and possibly earn some more FOX tokens.

InteractAI (IAI)

The InteractAI (IAI) Quest seeks to transform social media with AI and blockchain to build a SocialFi ecosystem. Customers can receive IAI tokens for meaningful social exchanges and use advanced AI capabilities such as text-to-image generation, plagiarism detection, and content scheduling. This is one of those really cool projects that promises to change the future of online communication.

WW2coin (WW2)

WW2coin (WW2) Quest is a historian's delight. This memecoin is based on gamified tokenomics from the old strategy game Hearts of Iron with mechanisms such as attrition, equipment capture, stability, and encirclements. They aim to document the Second World War day by day from September 2024 until August 2030 on their social media platforms.

Those are only a few of the many unique and interesting Quests offers by the projects. By registering, crypto enthusiasts will not only earn rewards but also discover innovative memecoins that are reinventing the blockchain world.

The memecoin market is continuously changing and new projects are appearing every day. Keep yourself informed about the current events and developments so you can make an educated investment decision. CoinSniper is the best site to learn more about new memecoin developments and presales.

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