Dogecoin Rises as Pump.fun Token, Official Trump and Melania Meme Coins Jump

Key Points

1. Dogecoin (DOGE) has risen 6.7% in the last 24 hours and over 18% on the week, reaching $0.20, with other meme coins like PEPE and SHIB also posting large gains.

2. Official presidential meme coins, TRUMP and MELANIA, have surged 10.3% and 32.5% respectively, outperforming the broader meme coin category.

3. The Solana-based PUMP token, launched by Pump.fun, quickly reached a $2.2 billion market cap after its ICO raised $600 million, driving gains in other Solana meme coins like BONK, UFD, and MICHI.

4. Ethereum-based meme coins SHIB and PEPE have also seen significant increases of 7.9% and 11% respectively, with SPX6900 (SPX) leading the category with a 25% surge.

5. Despite the rally, SPX6900's market cap remains far below the S&P 500's $52.56 trillion, highlighting the disparity between meme coins and traditional markets.