Meme coin spotlight: Baby Pengu, Strips Finance and an H.P. Lovecraft-inspired token spark interest

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As a seasoned crypto investor with over a decade of experience navigating the digital asset landscape, I’ve seen trends come and go. However, the recent surge of Baby Pengu, Shoggoth, and Strips Finance has piqued my interest like never before.

Amidst the bustling realm of cryptocurrency transactions, meme coins and Decentralized Finance (DeFi) systems are sparking interest amongst financial backers. Over the past weekend, three tokens that have been gaining traction include Baby Pengu, Shoggoth, and Strips Finance.

Baby Penguin’s popularity has skyrocketed by over 331%, thanks to its adorable baby penguin image, whereas Shoggoth has gained traction with its distinctive references to H.P. Lovecraft’s chilling creatures – both riding high on a surge of more than 126% growth.

Simultaneously, Strips Finance is establishing its unique presence within the Decentralized Finance (DeFi) sector, offering a service that allows users to protect themselves against changes in interest rates or even speculate on these derivatives.

Here’s a closer look.

Baby Pengu

On the foundation of the Base blockchain, Baby Pengu (BABYPENGU) has been witnessing substantial price fluctuations. As of December 22nd, it saw a substantial rise of more than 331%, currently valued at around $0.29 per token.

1 Billion units of this token have been set as the maximum quantity, and roughly 186 million are already circulating. This gives the market cap an approximate value of $54 million, based on data from Coinbase.

The main trading takes place on decentralized exchange platforms, with Uniswap V2 (Foundation) standing out as a significant hub for carrying out BABYPENGU trades.

It appears that the meme coin derived its name and symbol from an illustration depicting a cartoon baby penguin, as shown in the following chart:

Shoggoth

Shoggoth (SHOGGOTH) is up by more than 126% at last check on Sunday.

The coin’s market cap currently hovers at around $56.7 million.

The digital token “Shoggoth” is based on the Solana blockchain and derives its name from a mythical being featured in the works of author H.P. Lovecraft. This meme token was initially introduced on the Pumpfun platform, boasting a current circulating supply of one billion tokens.

On platforms such as Raydium, the digital entity known as Shoggoth is frequently involved in trading activities. As of December 22, its daily trading volume amounts to around $6,340.

In spite of being a bit obscure with hints of satire, Shoggoth appears to have caught the attention of cryptocurrency enthusiasts. Check out the graph below for details.

Strips Finance

Strips Finance (STRP) is a decentralized system specialized in interest rate derivatives, enabling its users to protect against or bet on fluctuations in interest rates.

On both the Arbitrum and Binance Smart Chain platforms, Strips Finance provides a decentralized exchange platform specializing in interest rate swaps and fixed-income items.

At the latest check on Sunday, its native token, STRP, has surged by more than 81%. Currently, it’s being traded at approximately $1.03. The market cap is currently hovering around $33 million, and there are roughly 30 million tokens in circulation.

STRP tokens can be bought and sold on platforms like Sushiswap and Gate.io, and it’s the STRP/USDC.E pair that is traded the most frequently.

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2024-12-22 23:14