On-chain data shows that the Solana meme coin FISH surged by 68% on January 11, reaching a $7.5 million market cap and $10.4 million in 24-hour trading volume. Inspired by The Rainbow Fish, the token gained popularity after the X parody account “Rainbow Fish” reactivated on January 1. On-chain analysis reveals that a Pump.fun token with a similar name further fueled the hype, boosting FISH’s market cap from $70,000 to $700,000 in a single day and peaking at $14 million on January 8.
The token was inspired by the character from the international bestseller “The Rainbow Fish.” After four years of inactivity, the account suddenly returned on the afternoon of January 1st and began engaging in meme interactions. Shortly after, a similarly named token appeared on Pump.fun, sparking a frenzy for FISH and related meme coins on the Solana blockchain.
The market value of the token surged from approximately $70,000 to $700,000 within a single day, increasing nearly tenfold, and reached a historical high of $14 million on the 8th. Meme coins are highly volatile and driven by market sentiment, with no real-world use cases.
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