Meme News: Fartcoin Crashes, Canary Preps PEPE Fund, SIREN Soars Again, and More

Meme coins ended the week modestly higher arsenic a softer macro backdrop lifted broader crypto markets, adjacent arsenic large-cap tokens similar Fartcoin (FARTCOIN), Pepe (PEPE), and Siren (SIREN) swung sharply successful antithetic directions.

As of April 9, the meme coin assemblage was up astir 7% connected the week, adding astir $2 cardinal to scope a cumulative marketplace capitalization of astir $31 billion, according to CoinMarketCap data.

The gains broadly tracked the wider crypto market, with the CoinMarketCap 20 Index (CMC20) posting a akin emergence arsenic hopes grew that a fragile ceasefire successful the Middle East could easiness the broader risk-off mood.

Still, immoderate of the sector’s biggest names saw stark reversals arsenic traders dumped Fartcoin, chased Siren, and positioned for the imaginable motorboat of a caller Pepe exchange-traded fund.

SIREN surged astir 275% WoW. Source: Sirenai.me

Fartcoin whipsawed this week aft a ample leveraged stake connected Hyperliquid unraveled, sending the Solana-based meme coin from astir $240 cardinal to little than $180 cardinal successful a azygous regular move.

CoinDesk reported that 2 whale wallets built a combined agelong presumption of 145.24 cardinal tokens, helping substance Fartcoin’s earlier rally earlier some were forcibly liquidated arsenic the marketplace turned. The trader oregon traders down the wallets reportedly mislaid astir $3 million.

The driblet added different stroke to a token already deed by the caller Drift exploit, successful which astir $4 cardinal worthy of Fartcoin was drained and liquidated.

Meanwhile, Siren surged astir 275% week-over-week (WoW) arsenic traders piled backmost into the token aft a much than 90% retracement from its March highs, according to CoinMarketCap data.

In March, Siren reached a marketplace capitalization of much than $1.7 cardinal earlier sliding to astir $100 cardinal successful the pursuing weeks.

Marketed arsenic the archetypal AI cause deployed connected BNB Chain, SIREN was named a victor of the network’s Meme Liquidity Program successful February 2025 and provides real-time crypto marketplace investigation and commentary.

Canary Capital filed for a PEPE ETF. Source: Binance

Canary Capital filed this week to motorboat a U.S.-based spot ETF tied to PEPE, adding to a increasing database of meme coin money applications arsenic issuers trial however acold regulated crypto products tin agelong beyond Bitcoin and Ether.

According to the filing, the projected CANARY PEPE ETF would clasp spot PEPE done a custodian and could support up to 5% of its assets successful Ether to screen Ethereum web fees. The exertion follows earlier Canary filings tied to Mog Coin and Pengu.