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Meme coins ended the week modestly higher as a softer macro backdrop lifted broader crypto markets.
As of April 9, the meme coin sector was up about 7% on the week, adding roughly $2 billion to reach a cumulative market capitalization of about $31 billion, according to CoinMarketCap data.
The gains broadly tracked the wider crypto market, with the CoinMarketCap 20 Index posting a similar rise as hopes grew that a fragile ceasefire in the Middle East could ease the broader risk-off mood.
Some of the sector’s biggest names saw sharp reversals as traders rotated between tokens and positioned for potential new products.
Fartcoin whipsawed this week after a large leveraged bet on Hyperliquid unraveled, sending the Solana-based meme coin from roughly $240 million to less than $180 million in a single daily move.
CoinDesk reported that two whale wallets built a combined long position of 145.24 million tokens, helping fuel Fartcoin’s earlier rally before both were forcibly liquidated as the market turned. The trader or traders behind the wallets reportedly lost about $3 million.
The drop added another blow to a token already hit by the recent Drift exploit, in which roughly $4 million worth of Fartcoin was drained and liquidated.
Siren surged about 275% week-over-week (WoW) as traders piled back into the token after a more than 90% retracement from its March highs, according to CoinMarketCap data.
In March, Siren reached a market capitalization of more than $1.7 billion before sliding to around $100 million in the following weeks.
SIREN is marketed as the first AI agent deployed on BNB Chain. It was named a winner of the network’s Meme Liquidity Program in February 2025 and provides real-time crypto market analysis and commentary.
Canary Capital filed this week to launch a U.S.-based spot ETF tied to PEPE, adding to a growing list of meme coin fund applications as issuers test how far regulated crypto products can expand beyond Bitcoin and Ether.
According to the filing, the proposed CANARY PEPE ETF would hold spot PEPE through a custodian and could keep up to 5% of its assets in Ether to cover Ethereum network fees. The application follows earlier Canary filings tied to Mog Coin and Pengu.
The filing comes as the U.S. regulatory backdrop for crypto funds has grown more permissive, with several asset managers already listing funds tied to top meme coins such as Dogecoin.
Trading platforms are also adapting as weaker crypto markets weigh on conventional meme coin activity.
In an interview with CoinDesk, new MEXC CEO Vugar Usi said the exchange, long known as a venue for smaller meme tokens, is considering a broader menu of volatile, retail-focused assets, including traditional financial instruments.
Usi said assets such as gold, oil, and equities are now reacting to the same mix of headlines, sentiment, and speculation that once defined meme tokens. He added that prediction markets also fit naturally with MEXC’s retail-heavy user base.
Separately, on April 7, Jupiter, a decentralized finance platform, launched a new token verification API aimed at Solana launchpads, decentralized exchanges, and AI agents. The API is designed to allow tokens to be verified automatically as part of the creation process.
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