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PAJAMAS, another Solana meme coin, is dominating the crypto market in terms of its gains. The token has surged more than 600% in just a week and is still going strong. Interestingly, this happened when the crypto market was in a neutral zone, and no market’s bullish elements played a role in the price surge. So, how the PAJAMAS price is surging?
In this blog, let us discuss what is happening with PAJAMAS price.
PAJAMAS Price Analysis
The First YouTube Cat (PAJAMAS) is a Solana coin launched in mid-March. The motivation to create this meme coin was the first-ever cat video launched on YouTube. The cat had the same name as the token and was the pet of Steven Chen, the co-founder of YouTube.
This token has surged 690% in a week where its current value is at $0.03071 and is just 14% away from its all-time high target of $0.0333 set 15 hours ago. The price started to surge from the 22 April and gained the most surge in the last two days.
PAJAMAS market cap is around $290.07 Million after a surge of more than 85.7%. Also, the trading volume is up by 60%, pushing the value to $ 8.12 million.
Why did the PAJAMAS Price Surge?
PAJAMAS gained an instant demand surge, where in the last 24 hours, the price spiked more than 80%. Being different from the DOG themed meme coins and new to the market, PAJAMAS succeeded in gaining the investor’s attention.
The token has also succeeded in gaining community support, which has been boosting the token price higher. An X account recently complimented the ongoing performance of the PAJAMAS meme coin. In the post, he mentioned that despite the market odds, PAJAMAS succeeded in turning the losses into positive gains.
Market RED > PAJAMAS GREEN
Market Bearish > PAJAMAS PUMP
Market Sideways > PAJAMAS HIGHER
Market Pump > PAJAMAS BREAK ATH
This all happened because #PAJAMAS has a strong narrative, a solid community and great support.
Thanks @stevechen @TheYoutubeCat pic.twitter.com/1DTj75OaVi— love (@pajamaslovers) April 27, 2024
Steve Chen, the creator of the PAJAMAS meme coin, is also a celebrity and popular among people. As the story of the creation of The First YouTube Cat, the token gained popularity as they understood the nostalgia of old memories and the wishes to immortalize them.
Up To now, the PAJAMAS was listed on limited exchanges only, but as per the last X post of Steve Chen, the possibility of listings on Binance seems high. In his post, he thanked Binance for having these meetings and told the viewers that he was excited to develop the web2 and web3 industry.
He also talked about the famous Bitcoin Pizza story where a person traded Pizzas with Bitcoin on 22 May, the same date as the publication of PAJAMAS Cat on YouTube.
Thank you to the Binance team to agree to a last minute meet-up today. I'm excited about possible collaborations for this year's Taipei Blockchain Week and opportunities to better bridge the Web 2.0 and Web 3.0 circles within Taiwan (and abroad!).
Finally, thanks for telling… pic.twitter.com/Nk9NaoGvey
— steve chen (@stevechen) April 26, 2024
Conclusion
The First Youtube Cat’s price is still surging, and if the trend continues, the meme coin might hit $0.01 in the next few days. PAJAMAS and a few other meme coins have dominated the market these days and were the top crypto gainers of the week. Because of these price surges, even in a market fall, analysts believe a meme coin season might take over the crypto market before a bull run.
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