The past 7 days have been rough for Solana meme coins, with the vast majority of tokens decreasing between 20% and 50%. Amid the ongoing rout, GME and MOTHER were hit the hardest.
GME, which is not affiliated with but rather inspired by GameStop, is down 54% in the past 7 days. This is likely due to Keith Gill, better known online as Roaring Kitty, sharing his holdings on social media platform Reddit, which showed that the meme stock mascot no longer held GameStop options, which were once worth $82 million.
Last week, GME witnessed an astonishing rally of 467% after it was revealed that influential trader Roaring Kitty would return to live-streaming after a hiatus of nearly 3 years. But when his stream went live, the GameStop share price was tanking.
Meanwhile, MOTHER—a meme coin launched by rapper Iggy Azalea—has plummeted by 38% in the past 7 days.
‘Crypto Is Sexy’: Is Iggy Azalea for Real?
This week’s celebrity meme coin craze took a fresh twist late Tuesday when Australian rapper Iggy Azalea—best known for the hit song “Fancy” a decade ago—launched her own Solana meme coin, MOTHER. And the crypto community broadly appears convinced that Azalea might be a “real one” and not just in it for a quick cash grab. MOTHER has charted massive gains since Azalea tweeted it out on Tuesday, jumping more than 22,000% to a current price above $0.015 and a market cap topping $15 million. More th...
The Australian rapper launched the meme coin on May 30. She also expressed her love for the cryptocurrency space and hosted Twitter Spaces, a feature that allows users to host live audio interactions in a group environment, which drew the attention of more than 380,000 Twitter users.
Apart from GME and MOTHER, Solana meme coins like BODEN and michi, both of which rallied earlier in the week, have witnessed a sharp downtick.
BODEN Solana Meme Coins Soar on Hunter Biden Guilty Verdict
The son of U.S. president Joe Biden, Hunter Biden, has been found guilty on three counts related to gun charges—and in the hours that followed, Biden-related meme coins have soared in price. Jeo Boden, an intentionally misspelled Joe Biden meme coin on Solana, jumped 9% in the hour that followed the guilty verdict, though its 24-hour trend is negative due to earlier losses during the span—it's down by 6% since this time yesterday at a current price above $0.18. Hunter was found guilty on three c...
BODEN, an intentional misspell of incumbent U.S. President Joe Biden, is down 30% in the past 7 days. The token rallied 9% after Hunter Biden, one of Joe Biden’s sons, was found guilty on three counts related to gun charges.
Meanwhile, michi, which clocked in gains of 18% on Monday after pop star Arianna Grande shared the meme on her Instagram account, has fallen by over 26% in the past 7 days.
Solana meme coin heavyweights Dogwifhat (WIF), BONK, and Book of Meme (BOME) are down 26%, 19%, and 18%, respectively, in the past 7 days.
Edited by Stacy Elliott.
