Memecoins BONK, BRETT, MOG Surge After Weeks of Selling Off

Bitcoin (BTC) is under significant selling pressure, largely due to actions from the German government and the impending refunds from the Mt. Gox exchange.

Despite Bitcoin (BTC) facing selling pressure from German government actions and impending Mt. Gox exchange refunds, memecoins are surging. BONK, Solana's largest memecoin by market cap, soared 12% in 24 hours.

Memecoins are rallying, with Base chain's Brett (BRETT) rising 6% and Ethereum's Mog Coin (MOG) climbing 8.7%. However, these tokens faced declines over the past week.

Some memecoins experienced significant drops. Pump.fun's Solana coin Michi (MICHI) plunged 48%, while Ethereum's Pepe (PEPE) and Popcat (POPCAT) both fell 17%.

In contrast, Gigachad (GIGA) soared 400% in the past month after bodybuilder Mike ‘Titan’ O’Hearn joined the GIGA community, promoting it on social media. Notably, GIGA is one of the few memecoins to post gains this week. Billy (BILLY) also surged 147% in the past month, becoming Pump.fun's largest token with a market cap of $157 million.

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