In the dynamic realm of cryptocurrency trading, meme coins and decentralized finance (DeFi) projects are piquing investor interest. Noteworthy tokens making headlines recently are Baby Pengu, Shoggoth, and Strips Finance.
Baby Pengu has skyrocketed by over 331%, drawing attention with its playful baby penguin branding. Similarly, Shoggoth has captivated investors, experiencing a growth of more than 126%, thanks to its unique homage to H.P. Lovecraft’s fictional universe.
Strips Finance is emerging as a key player in the DeFi sector, offering users the ability to hedge and speculate on interest rate derivatives.
Let’s delve deeper into these tokens.
Baby Pengu
Baby Pengu (BABYPENGU) operates on the Base blockchain. As of December 22, it has seen significant price fluctuations, with a remarkable increase of over 331%, trading at approximately $0.29 per token.
The token has a total supply capped at 1 billion, with around 186 million tokens in circulation, yielding a market capitalization of approximately $54 million.
Most trading occurs on decentralized exchanges, particularly on Uniswap V2 (Base), which is popular for BABYPENGU transactions.
Shoggoth
Shoggoth (SHOGGOTH) has shown a substantial rise of over 126%. The coin’s current market capitalization stands at about $56.7 million.
A meme token situated on the Solana blockchain, Shoggoth evokes the fictional creature from H.P. Lovecraft’s tales. With a circulating supply of 1 billion tokens, it has generated significant trading activity on decentralized exchanges.
Despite its niche appeal, Shoggoth is making a mark among crypto traders.
Strips Finance
Strips Finance (STRP) is a decentralized platform that specializes in interest rate derivatives, allowing users to effectively hedge and speculate on interest rate trends.
Active on the Arbitrum and Binance Smart Chain (BSC), Strips Finance provides services for interest rate swaps and fixed-income products. As of the latest update, the STRP token is up over 81%, trading around $1.03, with a market cap just under $33 million and a circulating supply of 30 million tokens.
STRP is actively traded with significant activity observed in its pairings.
