This year started off well for the meme coin market with tokens like TRUMP and MELANIA making headlines in January. But soon after, the frenzy faded away as the market was flooded with rug pulls. Specifically, the LIBRA token rug-pull, which wiped out 94% of market capitalization in just a matter of hours, scared away investors. 

However, Donald Trump’s official meme coin (TRUMP) is signaling that the frenzy is coming back. According to the recent performance of TRUMP as well as other top meme coins, analysts believe that this market is not ‘long dead.’ 

TRUMP Leads the Meme Coin Comeback

Official Trump (TRUMP) has been experiencing an impressive price movement. In fact, the data by Coinmarketcap shows that the coin is trading at $13.60 as of this writing. This price level depicts a surge by 77.05% on the weekly timeframe and over 13% on the day.

The impressive TRUMP price performance can be attributed to the recent announcement that Donald Trump will hold a dinner with the top 220 holders. As shared on X by TrumpMeme, president Trump is set to hold a private dinner gala with top TRUMP token holders on May 22, 2025. 

On the flip side, however, the recent surge in the price of the Official Trump meme coin shows that investors are regaining confidence in meme coins. This is clear as other top meme coins are also performing quite well after several weeks of bleeding. 

DOGE, SHIB and PEPE Follow Through the Meme Coin Rally

Besides the Trump meme coin, other tokens have also faced significant gains in recent times. The top meme coin by market cap – Dogecoin (DOGE) – for instance, has recorded a slight increase of 0.38% on the day. However, on the weekly timeframe this coin has surged by 15.11%. DOGE is currently trading at $.01816 and has a total market capitalization of $27.06 billion.

On the other hand, Shiba Inu (SHIB) is trading at $0.00001388. The current price level marks a 2.38% surge on the day and 13.64% pump over the last 7 days. SHIB’s market capitalization sits at $8.18 billion, with the coin holding second position based on market cap ranking. 

Additionally, Pepe (PEPE) is not left behind either. PEPE is currently trading at $0.058752 with a 1.23% surge on the day and 20.97% surge in the last 7 days. PEPE also has $3.68 billion in market capitalization, positioning it third by market cap in the meme coin sector. 

Total Meme Coin Market Cap and Trading Volume Surges

With top meme coins surging in price, the total meme coin market cap is also bloating. According to data by Coinmarketcap, the meme coin market cap has surged by 23.26%. It currently sits at $55.91 billion on the weekly timeframe. 

Additionally, the total meme coin market trading volume surged recently. This market has faced a total of $9.90 billion – a whooping 180.29% over the last 7 days. The surge in trading volume shows heightened activity around meme coins hence signaling a meme coin season renaissance. 

Meme Coins Face Criticism from Barstool Sports’ Founder

Nonetheless, despite the recent surge, experts still criticize meme coins. The most recent meme coin criticism came from Barstool Sports Founder, Dave Portnoy, who referred to meme coins as ‘legalized Ponzi Schemes.’ 

In his interview with CoinDesk on April 25, 2025, Dave said; “There is no value to it…you gotta get in, and get out..The memecoins on PumpFun…its the same cycle every single time.”

The statements by Dave highlight the volatile nature of meme coins as well as the risks such as rug-pulls associated with these coins. Hence, investors must approach meme coins, including TRUMP which is currently making waves in the crypto sector, in a cautious manner.