Meme coins have had a successful week, with several of them being among the top gainers. This surge in value can be attributed to the April CPI report, which showed a decrease in core inflation and a cooling of retail sales beyond expectations.
Chainlink (LINK) has experienced the most significant price increase this week. At the time of writing, Chainlink is trading at $16.70, marking a 22% increase compared to its price from the previous week. Its market capitalization during this period stood at $9.8 billion. This surge in Chainlink’s price can be attributed to its collaboration with RapidAddition. This partnership allows institutional firms to engage with a wide range of tokenized assets through a FIX-native blockchain adapter powered by Chainlink’s CCIP. This collaboration has likely boosted investor confidence in the project.
Fantom (FTM) has also seen substantial gains this week. The price of Fantom currently stands at $0.8797, representing a 20.03% increase compared to its price from the previous week. Its market capitalization during this period reached $2.4 billion. The rise in Fantom’s price can be attributed to the recent upgrade of the FantomIndia validator node to Sonic tech. This development has sparked increased investor interest and subsequently driven up the prices.
Bonk (BONK) has also experienced a significant surge in price this week. The current trading price of Bonk is $0.0000271, reflecting a 17.76% increase compared to its price from the previous week. Its market capitalization during this period reached $1.7 billion. The rise in Bonk’s price can be attributed to the ongoing memecoin supercycle, which has resulted in several memecoins experiencing surges in value. This trend has positively impacted Bonk’s price this week.
Floki (FLOKI) has also seen a notable increase in price this week. The current trading price of Floki is $0.0002004, marking an 18% increase compared to its price from the previous week. Its market capitalization during this period reached $1.9 billion. The recent surge in Floki’s price can be attributed to the Floki DAO’s decision to burn a significant number of FLOKI tokens. This decision was supported by an overwhelming majority vote of 99.84%. The token burn has generated increased interest in Floki and subsequently driven up its price.
JasmyCoin (JASMY) has also experienced gains over the past seven days. The current trading price of JasmyCoin is $0.02017, representing a 13.6% increase compared to its price from the previous week. Its market capitalization during this period reached $994 million. The recent increase in JasmyCoin’s price can be attributed to the announcement of Jasmy’s Incubated program. This program has generated increased interest in the token and consequently led to a rise in its price.
Overall, meme coins have performed well this week, with Chainlink, Fantom, Bonk, Floki, and JasmyCoin experiencing significant price increases. These gains can be attributed to various factors such as collaborations, technological upgrades, and new programs that have generated investor optimism and interest in these projects.
