Solana meme coin WOJAK big pump 90%, market capitalization surged to a new high of 40 million

According to GMGN market data, the market capitalization of the Solana-based meme coin WOJAK once exceeded $40 million, setting a new historical high, with a pump of 90.83% within 24 hours. The well-known opinion leader Tulio Rocha recently expressed his enthusiasm for WOJAK on Twitter, emphasizing its role in making the market more accessible to the public and mentioning that he has invested a significant amount of money into meme coins.

WOJAK surged 90.83% in a single day, market capitalization exceeded 40 million

(Source: GMGN)

According to GMGN market data, WOJAK's market capitalization exceeded 40 million USD on November 26, but has since fallen back to 38.07 million USD, still setting a historical high. The increase over the past 24 hours reached 90.83%, and such near-doubling gains are not uncommon in the crypto market, but there are few Meme coins that can maintain high levels and break the ten million dollar mark in market capitalization. Most Meme coins rapidly crash after initial hype, and only a few can establish stable liquidity and attract sustained attention.

WOJAK is issued based on the Solana blockchain, which is a mainstream choice for Meme coins recently. Solana's high throughput (theoretically 65,000 transactions per second) and low transaction fees (usually below $0.001) make it an ideal platform for trading Meme coins. In contrast, Ethereum's high Gas Fees make small Meme coin transactions uneconomical, which is why Solana is set to become the main battlefield for Meme coins in 2024-2025.

From the price trend, WOJAK has experienced significant volatility in the past 24 hours. Rapid increases are often accompanied by equally rapid pullbacks, and investors need to be wary of the risk of “buying at a high point.” The current market capitalization of $38.07 million has set a new high, but compared to the peak of $40 million, it has fallen by about 5%, indicating that profit-taking pressure is starting to show.

The market is experiencing severe fluctuations, and investors need to participate cautiously and pay attention to risk control. The value of Meme coins relies entirely on community enthusiasm and speculative funds, lacking any technological innovation or practical application. Once the hype fades or key promoters exit, prices can plummet by 70%-90% within a few hours. It is recommended that investors participate with only a very small position and set strict stop-losses, and never invest funds that they cannot afford to lose.

WOJAK Pump Key Data

24-hour pump: 90.83% (close to doubling)

All-time high market capitalization: 40 million USD

Current Market Capitalization: $38.07 million (down 5% from the peak)

Blockchain: Solana (high speed and low fees)

KOL Tulio Rocha's heavy bet triggers FOMO

Notable opinion leader Tulio Rocha recently expressed his enthusiasm for WOJAK on Twitter, highlighting its role in bringing the market closer to the public. He also mentioned that he has invested a substantial amount of money in this “meme coin” cryptocurrency. This public endorsement has played a key role in the explosive rise of WOJAK. In the cryptocurrency market, the influence of KOLs is extremely significant, as a single tweet can trigger tens of millions of dollars in capital inflow.

Rocha's active participation in some highly anticipated projects (such as his recent investment in WOJAK) aligns perfectly with his macro perspective on innovative market trends. His previous in-depth analysis of the launch of CHZ Frenzy on the Mexican peso exchange and the BingX spot upgrade further highlights his ongoing attention to the platforms and products that shape the digital asset landscape. This professional background lends credibility to his recommendations, attracting his followers to follow suit in investment.

However, investing in Meme coins recommended by KOLs is highly risky. Many KOLs have already built their positions before publicly recommending, and after the recommendation, retail investors rush in to drive up the price, allowing KOLs to cash out and take profits. This “pump and dump” model is common in the Meme coin market. Investors need to be vigilant, as even recommendations from well-known KOLs may contain conflicts of interest. The safest strategy is to identify opportunities before KOLs make their public recommendations, rather than chasing prices after the recommendation.

From the perspective of community dynamics, the discussion heat of WOJAK on Twitter and Telegram has surged in the past 24 hours. This community enthusiasm serves as fuel for the price pump of Meme coins, but it is also extremely unstable. The community heat may drop from a peak to a trough within a few days, and once the main promoters turn to other projects, WOJAK may quickly be forgotten.

The Cultural Roots and Evolution of Wojak Memes

Wojak, also known as Feels Guy, is a Polish internet meme, similar to Trollface and Herp Derp. It originally appeared in comics similar to Rage Comics, but the comics later became more political. The Wojak meme as a genre has expanded to include remixes and edits featuring various characters - as of February 2023, searching for “wojak” on meme database websites yields over 200 entries, representing various popular wojak variants on the internet.

In Polish, “wojak” can be roughly translated to “warrior” in English. The root of the word is “woj-”, and the diminutive suffix “-k” may indicate some form of childishness or smaller stature. In certain memes, he is depicted as an immature person. This cultural connotation provides a narrative foundation for the WOJAK token, making it not only a speculative asset but also a cultural symbol.

The first use of Wojak is currently unknown, but we know that Wojak (or Feels Guy) first appeared in 2009, and the meme was first archived on the Polish image board Vichan, with the file name “ciepłatwarz.jpg” (warmface.jpg). The earliest archive appeared on December 16, 2009, posted on the meme-sharing website Sad and Useless. Intelligencer describes the expression of the Wojak meme as “painful but dealing with it,” and this emotional resonance has made it widely circulated in internet culture.

By 2011, two Wojaks hugging with the image “I Know That Feel Bro” began to gain popularity. Wojak is often paired with the template phrases “That Feel” or “That Feel When,” commonly abbreviated as “tfw” or “>tfw.” Some versions pair him with the character Pepe the Frog, whose catchphrases are “Feels Good Man” or “Feels Bad Man,” which Feldman describes as “Platonic romance in the meme world.”

This cultural depth makes the WOJAK token different from pure speculative trading. Holders are not only betting on price pumps but also expressing their identification with meme culture. This emotional connection may provide more lasting community support than pure speculation, but it may also quickly fade with changes in cultural trends.

High Risk Warning for Meme Coin Investment

The surge of WOJAK has attracted a large number of speculators, but it must be emphasized that it carries extremely high risk characteristics. Meme coins usually do not have a white paper, no technical roadmap, and no practical application scenarios; their value entirely relies on community enthusiasm and market speculation. This characteristic allows them to potentially pump dozens or even hundreds of times during a bull market, but they can also drop to zero within days during a bear market or when the hype fades.

From historical data, 99% of Meme coins will eventually fail. Among the thousands of Meme coins that emerged during the 2021 bull market, less than 1% still have trading volume. Most projects quickly die after initial hype, leaving investors with nothing. Even SQUID (Squid Game coin), which once had a market capitalization of billions of dollars, instantly went to zero after the founder absconded with the funds.

Although WOJAK has received KOL endorsement and its market capitalization has reached 38.07 million USD, this does not mean it can survive in the long term. Investors should recognize the nature of Meme coin investments: it is a game of musical chairs; as long as the music continues and new funds enter, prices can be maintained or even pumped; but once the music stops and there are no new buyers, the last investors to enter will become the bag holders.

For readers considering investing in WOJAK, it is recommended to follow these principles: participate with no more than 1%-2% of your investment portfolio; set strict stop-loss (suggested to exit if a loss of 20% occurs); take profits promptly (suggested to sell half after a 50% increase); do not chase high prices due to FOMO; do not believe in the “this time is different” narrative. Meme coins can be an entertaining investment, but they should never be the core of your asset allocation.

Five Iron Rules for Meme Coin Investment

Position size extremely small: not exceeding 1%-2% of total capital

Strict Stop Loss: Exit immediately at a loss of 20%

Take profit in time: Pump 50% sell half, pump 100% clear all

Do not chase highs: Never FOMO buy after a surge.

Awareness: This is speculation and gambling, not value investing.