Meme coin season is in full effect.
The GameStop (GME) token, nicknamed after the notorious meme stock of the same name, has exploded by over 220% in the past 24 hours.
But GME isn’t the only joke token making moves – as the hilarious WienerAI (WAI) project has managed to raise over $4 million in funding during its much-discussed presale event.
GameStop Token Skyrockets After Roaring Kitty’s Reddit Post
Those who were sleeping on the GameStop token over the past day have seriously missed out.
This no-utility meme coin has gone viral, now changing hands at around $0.0124 after being valued at just $0.0037 just yesterday.
Spot volumes have gone equally parabolic – up 1,300% to $278 million at the time of writing.
All this manic buying pressure has launched the GameStop token to the third position on CoinMarketCap’s trending cryptos list.
It’s also become the 8th most traded meme coin across all exchanges almost overnight.
But what exactly has sparked this speculative frenzy?
Unsurprisingly, it concerns Keith Gill, also known as Roaring Kitty on Twitter.
Gill resurfaced on Reddit to post his enormous GME options positions worth nearly $180 million.
That single post was enough to send both the GameStop meme coin, and the stock itself, rocketing.
GME shares are now at $40.26, a 73% increase from Friday’s close of $23.14.
GME Token Rally Lifts Entire Meme Coin Sector
But the madness hasn’t stopped with just the GameStop token – it has lifted almost all meme coins in the past day.
Meme coin heavyweights, including PEPE and DOGE, have joined the party, tacking on 2% gains.
Fellow established meme coin FLOKI has fared even better, seeing its price pump 10% since yesterday.
The biggest winners, however, have been some of the more niche offerings.
POPCAT, which depicts the iconic Pop Cat internet meme, has surged over 14% to $0.449.
And TOSHI, paying tribute to the beloved video game dog, exploded 34% as trading volumes spiked.
In total, the overall meme coin market cap has pushed above $64 billion in this latest frenzy, while 24-hour trading volumes spiked 37% to $7.4 billion.
Those are some staggering numbers for a sector predominantly driven by speculation.
Clearly, the influence of “meme lords” like Keith Gill still carries immense sway in this area of the crypto market.
AI-Powered Meme Coin WienerAI Benefits from Market Euphoria & Raises $4M in Presale
Also benefiting from the meme coin euphoria is a new token with an outrageous name (and premise).
The token in question is WienerAI, which has just passed $4 million in presale funds.
WienerAI’s native WAI token has been a hot commodity among meme coin investors, given that it’s currently priced at $0.000713.
The next presale stage is set to begin (and increase the price) in less than 24 hours.
Some investors have been clamoring to get involved in the presale since WienerAI represents more than just another no-utility joke coin.
Sure, the sausage dog-style aesthetic is straight from the playbook of viral internet memes.
Yet WienerAI also promises AI-powered crypto trading bot capabilities.
This “AI assistant” can scan the market 24/7, identify potential trading opportunities based on predictive analysis, and execute those trades on numerous DEXs.
Trades are executed with zero fees and protection from front-running MEV bots.
It’s like having an expert trading assistant with a meme-inspired design.
As if that weren’t enough, WienerAI’s team is also offering a staking app for WAI holders, which currently yields 261% per year.
Big names like ClayBro have suggested WAI could be “the next 10x meme coin.”
Only time will tell whether WAI achieves ClayBro’s bold prediction.
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