Seattle Raccoon Meme Coin JIMOTHY Surges 52-Fold in a Day
Forecast Trend Report by Period
A Seattle raccoon's online fame helped send a cryptocurrency based on the animal soaring by as much as 52-fold in a day.
CoinGecko data on July 17 showed the Solana-based meme coin JIMOTHY the Raccoon, or JIMOTHY, climbed to a record intraday market capitalization of more than $22 million.
The token traded at about $0.02 apiece on July 17. Its market capitalization was about $21 million, while 24-hour trading volume reached roughly $27 million. Some on-chain price trackers showed the token rising as much as 52-fold from a day earlier during intraday trading.
The rally followed the popularity of the real-life raccoon Jimothy. The animal was found in Seattle's Ballard neighborhood and drew attention on social media for its short torso and distinctive appearance, which is believed to be the result of a congenital spinal deformity. KUOW, a local public broadcaster, said videos related to Jimothy have drawn more than 10 million views on social media.
Local media outlets and major social media accounts repeatedly shared the videos, while fan art and parodies also spread. Jimothy quickly became an internet meme. The JIMOTHY token was launched on July 16 on Pump.fun, a Solana-based meme-coin issuance platform, as interest in the meme was spreading. The popularity of the original meme appears to have spilled over into crypto buying.
About 1 billion JIMOTHY tokens are currently in circulation. The token is traded mainly on Solana-based decentralized exchanges including PumpSwap, Meteora and Raydium. Daily trading volume has exceeded the token's market capitalization, fueling heavy turnover and wider price swings.
It has not been confirmed whether the actual raccoon or the uploader of the original video has any official connection to the entity behind the token.
