Meme cash ended the week modestly greater as a softer macro backdrop lifted broader crypto markets, whilst large-cap tokens like Fartcoin (FARTCOIN), Pepe (PEPE), and Siren (SIREN) swung sharply in several instructions.
As of April 9, the meme coin sector was up about 7% on the week, including roughly $2 billion to succeed in a cumulative market capitalization of about $31 billion, in response to CoinMarketCap knowledge.
The positive factors broadly tracked the broader crypto market, with the CoinMarketCap 20 Index (CMC20) posting the same rise as hopes grew {that a} fragile ceasefire within the Center East may ease the broader risk-off temper.
Nonetheless, among the sector’s greatest names noticed stark reversals as merchants dumped Fartcoin, chased Siren, and positioned for the potential launch of a brand new Pepe exchange-traded fund.
SIREN surged roughly 275% WoW. Supply: Sirenai.me
Fartcoin whipsawed this week after a big leveraged guess on Hyperliquid unraveled, sending the Solana-based meme coin from roughly $240 million to lower than $180 million in a single every day transfer.
CoinDesk reported that two whale wallets constructed a mixed lengthy place of 145.24 million tokens, serving to gas Fartcoin’s earlier rally earlier than each have been forcibly liquidated because the market turned. The dealer or merchants behind the wallets reportedly misplaced about $3 million.
The drop added one other blow to a token already hit by the current Drift exploit, through which roughly $4 million value of Fartcoin was drained and liquidated.
In the meantime, Siren surged about 275% week-over-week (WoW) as merchants piled again into the token after a greater than 90% retracement from its March highs, in response to CoinMarketCap knowledge.
In March, Siren reached a market capitalization of greater than $1.7 billion earlier than sliding to round $100 million within the following weeks.
Marketed as the primary AI agent deployed on BNB Chain, SIREN was named a winner of the community’s Meme Liquidity Program in February 2025 and supplies real-time crypto market evaluation and commentary.
Canary Capital filed for a PEPE ETF. Supply: Binance
Canary Capital filed this week to launch a U.S.-based spot ETF tied to PEPE, including to a rising checklist of meme coin fund purposes as issuers take a look at how far regulated crypto merchandise can stretch past Bitcoin and Ether.
Based on the submitting, the proposed CANARY PEPE ETF would maintain spot PEPE by way of a custodian and will maintain as much as 5% of its belongings in Ether to cowl Ethereum community charges. The applying follows earlier Canary filings tied to Mog Coin and Pengu.
