XRP meme coin PHNIX pumps 50%; UFD shows a similar pump

As the overall crypto market struggles to reclaim a bullish stance, XRP meme coin PHNIX has pumped over 50%.

In the last 24 hours, while Bitcoin (BTC) and Ethereum (ETH) have shown clear signs of struggle to reclaim a bullish stance, a few lesser-known coins have pumped double digits.

One of the top gainers, as per CoinGecko’s list, is Phoenix (PHNIX). PHNIX is an XRP (XRP) meme coin that has pumped from a 24-hour range of $0.00004662 to as high as $0.0000698.

Crypto analyst Gordon recently tweeted that meme coins on the XRP chain are exploding. He especially pointed out that PHNIX printed a massive God candle after a week of consolidation. Gordon also highlighted that it looks ready for its next rally.

The second coin with almost a 70% pump is Unicorn Fart Dust (UFD). The UFD price has shot up close to 100% in the last seven days and is trading at $0.2274 at press time.

The meme coin was started by a 56-year-old YouTuber called Basement Ron, who creates videos about gold, silver, and now UFD. While the exact reason for the price surge is unclear, the coin has also bagged partnerships with companies like MoonPay.

When we narrow it down to the top gainers of the top 300 coins by market cap, Theta Network (THETA) has spiked close to 14% from a 24-hour low of $0.06857 to as high as $0.09682 before retracing to its current price of $0.07854.

As per CoinMarketCap data, the global crypto market cap stands at $3.33 trillion, with a 1% surge in the last 24 hours. Alternative data also shows that the crypto Fear and Greed Index is now at 62, indicating greed. Greed usually indicates that the market is due for a correction.