The new memecoin MOONPIG, launched on the Solana platform, has quickly gained popularity and reached significant market capitalization.
Launch and Popularity of MOONPIG
Memecoin MOONPIG was launched this month on the memecoin launchpad on Solana, known as Pump.fun. So far, it has attracted nearly 10,000 holders and has quickly surpassed a market cap of $120 million.
Support from Major Investors
Among the investors backing MOONPIG is a whale in the market — James Wynn, known for his $1.1 billion position in BTC. His backing has drawn attention to this memecoin.
Current Performance and Market Conditions
After hitting an all-time low of $0.004102, the price of MOONPIG surged to an all-time high of $0.1212, marking a gain of about 2,855% in less than three weeks. However, as of now, the price has retraced to $0.1001. The RSI indicators show overbought conditions, which may indicate potential short-term correction or consolidation.
MOONPIG shows growth amid support from major investors and heightened interest from traders. In the volatile crypto market, the memecoin remains in the spotlight.
