PENGUIN Memecoin Soars Above $136M Market Cap After White House Post
The Nietzschean Penguin (PENGUIN) token, a memecoin launched on the Solana Layer-1 blockchain network, surged 564 percent following a social media post from the United States White House.
On Friday, the White House published a social media post on US President Donald Trump X and a penguin walking hand-in-hand through the snow.
Penguin traded at a market capitalization of $387,000 before the post and recorded a trading volume of $244 million in the 24 hours after the post, according to SolanaFloor.
The token's market capitalization is about $136 million at the time of writing, and is trading at around $0.13, according to data from DEXScreener.
“Penguin's early success is proof that onchain commerce is never dead,” said Alon Cohen, co-founder of Memecoin launchpad Pump.fun.
The rise of the Penguin token came amid a sharp decline in the memecoin market, one of the best-performing crypto sectors in 2024, but many notables have fallen by 80% or more from their peak prices.
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11.6 million crypto tokens will be minted by 2025, largely driven by the flood of memecoins launched on platforms like Pump.fun and other similar startups.
The total market capitalization of memecoins increased by 23% in January 2026.
The brief rise in memecoins was accompanied by a sharp increase in mentions of memecoins on social media, according to crypto market analysis firm Sentiment.
“Memecoins typically lead when appetite returns. The return to neutral from high fear in the Fear and Greed index reinforces this shift,” Vincent Liu, chief investment officer at trading firm Kronos Research, told Cointelegraph.
However, the memecoin market has fallen back to $39 billion in total market capitalization at the time of publication, as crypto markets continue to move sideways, oscillating between temporary short-term rallies and pullbacks.
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