Why Did the Price of Memecoin Go Up Today?

Jakarta, Pintu News – The crypto market has recently undergone a significant change in direction, with the price of memecoin soaring sharply.

After losing more than $40 billion in three weeks, the market capitalization of these meme-themed coins is recovering with notable price gains. Dogecoin (DOGE), Shiba Inu (SHIB), and Floki Inu (FLOKI) are among those that recorded significant price increases, fueled by the latest announcement from Elon Musk.

Check out the full analysis in this article!

Main Causes of Memecoin Price Increase

Today’s rise in the price of memecoin is attributed to the influence of Elon Musk who recently launched the ‘America Party’. His popularity in the crypto space and involvement with memecoins like Dogecoin (DOGE) has created strong bullish demand for the token.

In addition, Musk signaled that his party will support crypto, especially Bitcoin (BTC), which made the crypto market even more excited today. In addition, the positive impact of the BBB bill proposed by Donald Trump is also starting to show.

Various developments scheduled in the crypto week and new market-driving legislation further strengthened the position of memecoin.

Also read: UAE Gold Visa: New Opportunity for Indians, But Not for Crypto Investors!

Significant Increase in Certain Memecoins

Dogecoin (DOGE) today recorded an increase of 6%, reaching $0.173, breaking key resistance at $0.17. Shiba Inu (SHIB) also followed with a 3% gain, with trading volume increasing by 101%, trading at $0.00001175.

However, the most prominent was BUILDon (B) with a 28% increase, followed by Floki Inu (FLOKI) with a 14% rally and SPX6900 with a 12% surge. Other meme coins on the Solana (SOL) network such as BONK, TRUMP, and Pepe Coin (PEPE) also saw significant gains.

This shows that the bullish sentiment is not only limited to a few big coins, but is also spreading to other meme coins on various platforms.

Read also: LetsBONK Shakes Up the Market: Memecoin Platform Launchpad at Solana!

Effect of Capital Rotation and AI Innovation

As market conditions improved, investors began to increase risk-taking which resulted in greater capital flows into various categories, including memecoins. This has been one of the important factors driving the price surge in this category.

In addition, artificial intelligence (AI)-related cryptos are also gaining momentum with the hype and new developments in the AI industry. Recently, Grayscale launched a new index tracking 24 AI tokens, showing that the category has tripled in growth from 2023 and still has more potential.

This adds to the variety and opportunities in crypto investment, especially for those interested in the latest technology.

Conclusion

With various favorable factors, such as endorsements from high-profile personalities, favorable legislation, and technological innovation, memecoin is likely to continue to attract investors’ attention.

While volatility remains a consideration, the growth potential of memecoins cannot be ignored. Investors and market watchers should continue to monitor the dynamics affecting this unique category.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• Coingape. Why Memecoin Prices Are Skyrocketing Today. Accessed on July 8, 2025
• Featured Image: Generated by AI