The cryptocurrency that grew by 690% in a week is named

Cryptocurrency analysts have drawn attention to the Wojak memtoken (WOJAK), which has risen by 690% in just a week. Yesterday, the digital asset managed to reach an all-time high of $ 0.65.

At the time of writing, WOJAK is trading at $ 0.704 with a daily increase of 14.8%. Over the past 14 days, the token’s value has risen by 394%. The daily trading volume on the centralized Gate and Bitget crypto exchanges, as well as the decentralized Uniswap, is over $ 91 million. The token is ranked 437th in the CoinGecko cryptocurrency ranking with a capitalization of $ 49.26 million.

According to the developers of WOJAK, their cryptocurrency project offers users the opportunity to explore the world of memes, including their purchase and sale through a decentralized network. The inspiration for WOJAK was the iconic internet meme of the same name in the form of a drawing with the face of a sad man.

The sharp increase in the value of the memtoken occurred after the project team announced on Twitter on May 1 the release of the second collection of non-fungible tokens for the community.

The rise in WOJAK’s price coincided with the pump of another memtoken called PEPE. PEPE reached a new all-time high, rising by 39,000% since its launch. While the already well-known memecoins, Dogecoin and Shiba Inu, have repeated the price movement of bitcoin, PEPE managed to take 17th place in terms of trading volume in 24 hours and enter the top 125 digital assets by market capitalization. Currently, PEPE is ranked 3rd in the memecoin category, surpassing Floki and Baby Doge Coin.