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PRAWN, a meme coin inspired by the character Pepe the King Prawn from the Muppets, within a few days of its launch, has already reached an impressive ATH of $48 million. After going viral on TikTok, the meme coin experienced a rapid rise, which, as is often the case, was followed by a sharp correction that brought PRAWN down to a market cap and all-time low of $3.5 million.
However, the coin has rebounded over the past three days, surging more than 145% in just the last three days. Currently, it’s sitting at a market cap of $15 million—nearly a 5x recovery from its lowest point.
Similar to Chillguy, this crazy-looking prawn became popular thanks to a TikTok. Memes and videos featuring Pepe the King Prawn, a funny Muppet with messy hair and big eyes, are trending. It all started on TikTok from a clip from the 1999 movie Muppets in Space.
In the clip, Pepe’s shocked and frazzled look perfectly captures awkward or embarrassing moments. Perfect for a generation that often cannot truly fit into this society.
Pepe The King Prawn just made the TikTok sound “Like a Prayer” (Choir Version) the #2 trending sound in the world today.
I’m surprised it’s not #1 after having 220,000+ uploads in less than a week
This is the biggest TikTok & Instagram meme in the world and it’s just getting… pic.twitter.com/itmwa1ZWlg
— YoGChill (@yogchill_) December 13, 2024
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PRAWN Crypto – The King Of TikTok And Now Of The Blockchain?
The chart of PRAWN shows a highly volatile price action, typical of meme coins, with sharp upward spikes followed by corrections. After its peak at $48 million, the coin is trading at $15 million, suggesting a consolidation phase. The recent 145% pump over three days highlights the renewed interest, potentially driven by its listing on Crypto.com and its vibrant community’s activity on social media. These movements indicate that while PRAWN has yet to stabilize, its community-driven momentum plays a significant role in its price dynamics.
Can Pepe the King Prawn achieve the same level of success as ChillGuy? The rapid rise of this trend, which saw millions of users create their own variations of the meme, suggests a strong and active interest in the topic.
However, the broader landscape for meme coins presents a mixed picture. On Solana, the growth rate of meme coins appears to be slowing, signaling potential fatigue or saturation in that ecosystem. On the contrary, $PRAWN seems to be going against the grain and has reached almost $50 million in ATH in just a few days since its launch.
How i feel waking up to https://t.co/4ni4dCtBs1 listing $prawn after buying the dip last night pic.twitter.com/lFOFtmBbC6
— oli (@Oligotsol) December 11, 2024
Like ChillGuy, Prawn’s success is related to its virality online. The meme’s adaptability, with various creative iterations appearing on TikTok and Instagram, keeps the coin’s narrative fresh and engaging. PRAWN’s community seems sure about this meme coin’s future success. The listing on Crypto.com could be the first step in that direction.
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