In the fast-paced world of crypto trading, meme coins and decentralized finance (DeFi) platforms are generating curiosity among investors. Three brands that have been making waves on Sunday are Baby Pengu, Shoggoth, and Strips Finance.
While Baby Pengu has experienced a massive increase of over 331%, fueled by its adorable baby penguin brand, Shoggoth has attracted attention with its unique focus on the eerie creations of HP Lovecraft – while he was riding a wave of growth of more than 126%.
At the same time, Strips Finance is carving out a niche in the DeFi space, providing a platform for users to hedge and discuss interest rate derivatives.
Here's a closer look.
Pengu child
Baby Pengu (PENGU BABY) works on the Base blockchain. As of December 22, it has been volatile in price, with a massive increase of over 331% at the last check on Sunday, reaching around $0.29 per token.
The token's total allocation is capped at 1 billion, with approximately 186 million tokens currently in circulation, resulting in a market capitalization of approximately $54 million, according to Coinbase.
Trading activity is mainly done on decentralized exchanges, with Uniswap V2 (Base) being a dedicated platform for BABYPENGU transactions.
It seems that the meme coin got its name and logo from picture The cartoon about penguins. See the table below.
Shoggoth
Shoggoth (SHOGGOTH) up over 126% at last check on Sunday.
The coin's market cap currently hovers at around $56.7 million.
As a meme on the Solana blockchain, Shoggoth was named after the fictional creature found in the stories of author HP Lovecraft. It was first launched on the Pumpfun platform, and has a circulating supply of 1 billion tokens.
Shoggoth actively trades on decentralized exchanges such as Raydium and, as of December 22nd, has a daily trading volume of around $6,340.
Despite its allure and satire, Shoggoth seems to have captured the imagination of crypto traders. See the table below.
Financial Strips
Strip Finance (STRP) is a decentralized platform focused on interest rate derivatives, allowing users to hedge and speculate on interest rate movements.
Operating on the Arbitrum and Binance Smart Chain (BSC) networks, Strips Finance offers decentralized exchange services for interest rate swaps and fixed income products.
Its native token, STRP, is up more than 81% at last check on Sunday. It is currently trading around $1.03, with a market capitalization of just under $33 million and a circulating supply of 30 million tokens.
STRP can be traded on exchanges such as Sushiswap and Gate.io, with the STRP/USDC.E pair seeing the most activity.
