The Nietzschean Penguin (PENGUIN) token, a memecoin launched on the Solana layer-1 blockchain community, surged by about 564% following a social media put up from the United States White Dwelling.
On Friday, the White Dwelling printed a social media put up on X of US President Donald Trump and a penguin conserving arms and walking via the snow, which went viral.
PENGUIN traded at a market capitalization of about $387,000 sooner than the put up and recorded $244 million in trading quantity in the 24 hours after the put up, in accordance to SolanaFloor.
The token’s market capitalization is ready $136 million on the time of this writing, and it’s trading at about $0.13, records from DEXScreener reveals.
“The early success of PENGUIN is proof that onchain trading used to be never boring, perfect a drowsing big attempting forward to the lawful 2d,” Alon Cohen, the co-founder of memecoin launchpad Pump.enjoyable — the platform PENGUIN launched on — stated.
The surge of the PENGUIN token came amid a gigantic downturn in the memecoin market, which used to be one amongst the ideal-performing crypto sectors in 2024, but crashed after a lot of high-profile big title tokens declined by 80% or more from their peak costs.
Connected: Memecoin trading spikes swiftly as merchants revenue, philosophize analysts
Memecoins say indicators of life in 2026 after a disappointing year
11.6 million crypto tokens failed in 2025, largely pushed by the flood of memecoins launched on platforms admire Pump.enjoyable and varied same launchpads.
The final market capitalization of memecoins swiftly surged by 23% in January 2026, rising from about $38 billion in December 2025 to over $47 billion, in accordance to CoinMarketCap.
The temporary surge in memecoins used to be accompanied by a spike in social media mentions of memecoins, in accordance to crypto market analysis company Santiment.
“Memecoins in most cases lead when threat appetite returns. The rebound in the Difficulty and Greed Index from hideous scare in the direction of neutral reinforces this shift,” Vincent Liu, the chief funding officer at trading company Kronos Analysis, instructed Cointelegraph.
However, the memecoin market fell support down to about $39 billion in total market capitalization on the time of publication, as crypto markets continue to transfer sideways, oscillating between non permanent immediate-timeframe rallies and pullbacks.
Magazine: Memecoins: Betrayal of crypto’s ideals… or its honest aim?
