A number of valuable meme coins set new all-time highs on Friday and Saturday after others did earlier this week, as the broader crypto market surge after the election – and in particular the resurgence of main meme coin Dogecoin – has fueled demand for volatile assets.
BONK, the second-largest Solana meme coin by market cap, hit a new high of $0.000047 on Friday, breaking the record from May — and then even higher on Saturday, jumping to a new all-time high above $0.000049. It's currently up 120% over last week, according to data from CoinGecko.
The pump came after the project launched a campaign to burn up to 1 trillion BONK — currently worth more than $39 million — based on various participation criteria on Christmas Day, prompting supporters and community members to complete social media tasks. Burning tokens reduces the supply of tokens, increases scarcity and consequently increases value.
Other major Memcoins, however, scored similarly high in the absence of such plans on Friday. BRETT (BRETT), the meme coin on the Ethereum layer-2 network Base, reached a high of $0.19 late Friday, while MOG Coin (MOG) jumped to a new record price of $0.0000029.
Recent meme coin sensations such as Goatseus Maximum (GOAT) — conceptualized by AI Chabot, but created by humans — jumped to $1.30 on Saturday. And MOODENG, the recently viral baby pygmy hippopotamus, set a new high for the Solana token at $0.68.
Earlier this week, Pepe ( PEPE ), Cat in a Dog World ( MEW ), and Fwog ( FWOG ) all set new record prices. Other popular mammoth coins such as Solana Dogwhiphat (WIF) have been close to their records.
The meme coin market value comes after Dogecoin (DOGE) – the original meme coin – rose to a three-year high of $0.43 earlier this week. DOGE's resurgence comes amid ties to (as usual) Elon Musk, who is spearheading a new government effort called Government Efficiency by President-elect Donald Trump — yes, DOGE.
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