CorgiAI, a relatively obscure meme coin, has surged in popularity, now ranking as the eighth largest meme coin by market cap according to CoinGecko. Over the past 24 hours, it has seen a remarkable 60% increase, and a staggering 102% surge over the past week, surpassing Pepecoin, Memecoin, and TRUMP in the process. Currently, it’s on the brink of overtaking Book of Meme with a market cap exceeding $800 million, as reported by CronoScan.
However, it’s worth noting that while CoinGecko and CoinMarketCap report similar figures, CoinMarketCap indicates that the data has been self-reported by CorgiAI (CORGIAI) and hasn’t been independently verified. Given the inherent volatility of meme coins, caution is advised, especially considering that CorgiAI’s smart contract includes a mint function, allowing for the creation of more tokens if activated.
CorgiAI operates on the Cronos network, a layer-1 blockchain capable of interoperating with Ethereum and Cosmos.
Recently, the network, developed by Crypto.com in collaboration with Cronos Labs, launched a campaign called “Cronos Spring Odyssey: Memecoin Trails” to promote its native meme coins. Participants were required to engage with CorgiAI’s Twitter account, like and retweet a post, and hold at least $5 worth of CorgiAI. Since the start of this campaign, CorgiAI has experienced a remarkable 97% surge, propelling it to become the fifth largest token on Cronos, trailing only behind USDC, Wrapped Bitcoin, Maker stablecoin DAI, and the native CRO token.
Although 10 other tokens were part of the campaign, CorgiAI witnessed the most substantial gains. This could be attributed to its additional promotional activities on Twitter, including allow list campaigns and giveaways through GALXE Quest, which required similar interactions with Twitter along with token purchases and holdings.
Another token, Crow with knife, saw a 14.3% increase over the past 24 hours, reaching a market cap of $55,000. However, it pales in comparison to the meteoric rise of CorgiAI in recent times.
May 2024, Cryptoniteuae
