Analysts named the token that grew by 2057% in a few days

The Doginphire (FIRE) memo token has risen in price by 2057%. As of February 7, the digital asset launched on the Solana (SOL) network increased in value 21 times in 5 days.

At the same time, the virtual currency’s capitalization amounted to only $ 2.01 million. FIRE’s daily trading volume jumped by 308.4%, reaching $ 5.2 million. In the past 24 hours alone, FIRE’s rate soared by 369.2%. The meme coin is available for transactions on only a few decentralized exchanges (DEX), including Raydium, Jupiter, and others.

The bullish sentiment was boosted by Elon Musk’s tweet with a fire emoji addressed to Біллі Маркус" href="https://noworries.news/biography/billi-markus/" data-bio-id="3704">Billy Marcus, co-founder of Dogecoin (DOGE). The tweet triggered FOMO (fear of missing out) as the community wondered if FIRE was the new DOGE, or if it would follow the parabolic trajectories of other recent Solana meme token stars such as Bonk (BONK), Dogwifhat (WIF), Myro (MYRO), and Honk (HONK).

FIRE’s popularity also increased after the cryptocurrency exchange BitMart announced its intention to list Doginphire on its platform. The exchange has not yet announced the exact date, but it is expected to happen soon. The team that created the FIRE meme coin announced on X that two more listings on the «top 10 exchanges» are being prepared.

One of the areas in which Solana thrives is meme coins created on the blockchain. Thus, according to Lookonchain, in December, one crypto trader turned $ 900 into a whopping $ 3.47 million in five days using the ANALOS memo token.