Elon Musk’s new gaming persona sparks PolitiFi, parody meme rallies
Release: 2025/01/01 04:54 Reading: 926
Meme Token Rally Boosted by Elon Musk's Persona
Several meme token categories experienced significant gains in the final hours of 2024, spurred by Elon Musk's new gaming and social media persona, "Kekius Maximus." Pepe (PEPE) emerged as a top performer, surpassing Hyperliquid (HYPE).
Musk's influence led to year-end rallies for Pepe and other meme categories. The attention brought by Kekius Maximus sparked a surge in trading activity for tokens in the "frog-themed" category, which collectively gained an average of 10% overnight, reaching a valuation of over $12 billion.
Pepe regained its position at $0.000020, while Hyperliquid remained around $25. This allowed Pepe to move up the charts, with its trading volume reaching $3.3 billion in the past 24 hours, its highest level in a slow trading week.
PolitiFi and Parody Tokens Resurgence
PolitiFi tokens, which had slowed down following the US elections, experienced a revival in value with the rise of frog memes. The category surpassed $500 million in value, attracting attention from meme communities. Parody tokens also gained traction, with Elon, a lesser-known token, seeing a surge in demand following Musk's avatar change.
Social Media Engagement Driving Growth
Meme tokens continue to drive social media engagement and on-chain activity. Despite the shift in focus to AI agents, meme collections outperformed influencer Murad Mahmudov's selections. However, Dogecoin remained relatively flat, requiring larger inflows to spark a rally.
Overall, the meme ecosystem experienced a slight recovery, rising to $109 billion after dipping below $100 billion recently. Meme tokens generated one of the highest returns in 2024, with total gains exceeding 2,100%. Social media data indicates that the meme narrative continues to receive significant attention.
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