According to recent updates, memecoins created in response to the Securities and Exchange Commission (SEC) and its chairman Gary Gensler have acquired notable popularity, outpacing Dogecoin, Shiba Inu, and Pepe coin in gains in just one day after the regulator launched a lawsuit against Coinbase, a cryptocurrency exchange platform in addition with the action against the world’s biggest crypto exchange, Binance.
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Memecoins Based on SEC Showed Huge Gains
A coin known as Good Gensler (GENSLR) is one of the memecoin inspired by the head, which gained over 260% in a matter of hours after the SEC’s lawsuit against Coinbase on June 6 for intentionally offering unregistered securities. Data from Etherscan shows that Good Gensler went live on April 19, five days after memecoin Pepe (PEPE).
Good Gensler Reaches Market Cap of $3M
In fact, Good Gensler presently has a market cap of about $3.2 million and has had a trading volume of slightly more than $1.25 million the day before, whereas DOGE, SHIB, and FLOKI have seen gains of 4.8%, 2%, and 16%, respectively.
Another coin with the trading name “SEC” underwent good swings. SEC coin which stands for “Stupid Egotistical Cocksuckers”, was introduced on June 5, increased by an astounding 450% in the previous day. However, this coin went down again after the surge.
FKGARY Surges More than 500%
According to statistics from decentralised exchange (DEX) screener DEXTools, another Gensler inspired memecoin that goes by the name Fuck Gary Gensler (FKGARY) also had considerable upward momentum, rising more than 530% in the last 48 hours.
SEC Continues to Battle CEXs
Meanwhile, PEPELON has made a name for itself in the exciting realm of memecoins during the last month. PEPELON, which was created as a result of Elon Musk and Pepe’s ambitious alliance, had a noteworthy market capitalization of 1.8 million.
Recall after the Securities and Exchange Commission (SEC) introduced a lawsuit against the company, Coinbase chose to sue the SEC for regulatory uncertainties in the digital ecosystem in April.
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