Crypto
California Bans Memecoins Amid Surge in Meme Coin Prices
California Governor Gavin Newsom has signed a bill to ban memecoins in the state, citing the example of Trump Token. The move comes as several meme coins have seen significant price surges in recent weeks.
Tl;dr: CoinGecko reported weekly surges exceeding 40% for PEPE and WIF, while DOGE climbed 18% over the same period. WIF's breakout volume reached 32.2 million.
Despite this, the broader memecoin market has recovered towards a $33 billion capitalization, with PEPE jumping 32% to $0.00000536 and breaking above its August high.