PUP Token’s Rise: How the New Meme Coin Is Gaining Traction on Hyperliquid

PUP is a community-driven meme coin that has found its home on Hyperliquid and HyperEVM. What began as a lighthearted experiment with no seed rounds, no insiders, and no fundraising has quickly grown into a trending story in the crypto space. 

The recent PUP token price surge has drawn attention not only from meme enthusiasts but also from traders seeking to understand how a project with such modest beginnings could gain significant traction in such a short time.

The Origins of PUP Token

Unlike many crypto projects that start with structured fundraising and private allocations, PUP token was airdropped for free to the HyperEVM community. The launch was designed as a “community statement” rather than a profit-driven project. 

Early holders received their tokens at an airdrop price of $0.002, and within weeks the token skyrocketed to $0.040, marking a 20x increase. At its peak, the PUP token all-time high reached $0.190, representing an impressive 95x jump from the initial giveaway.

This approach, free of the usual corporate baggage, helped build an authentic sense of ownership among community members. Supporters often share memes, puppy pictures, and lighthearted posts, keeping the project’s culture aligned with its playful branding as a PUP meme token.

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Market Performance and Recent Momentum

PUP data (doc. Coingecko)

The PUP token rise has been supported by a surge in market activity. Over the last 24 hours, PUP trading volume reached nearly $1.57 million, a 572% increase from the previous day. 

This jump reflects a strong wave of interest that has positioned PUP among the most actively traded tokens on platforms like CoinGecko’s high-volume listings.

Currently, PUP token trades around 69% below its all-time high, but still stands more than 435% above its lowest recorded price. 

With a market capitalization of $37.8 million, PUP now ranks near the top 1,000 cryptocurrencies, while its fully diluted valuation (FDV) stands at approximately $58.6 million, assuming all 1 billion tokens eventually enter circulation.

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Why PUP Is Trending on Hyperliquid

The popularity of Hyperliquid PUP is not solely about price performance. The project taps into the culture of crypto memes, combining humor and community energy with tangible trading utility. 

Holders can engage with PUP XP booster features within the Hyperliquid ecosystem, further embedding the token into the platform’s activity.

By outperforming both the global crypto market (down 0.8%) and the broader meme coin category (down 9.3%), PUP has positioned itself as one of the few tokens gaining traction during a quieter market cycle. 

This ability to rise in contrast to the overall downturn highlights its strength as a PUP ecosystem token with growing attention.

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The Utility Behind the Meme

While PUP crypto meme branding remains at the center of its identity, the token is beginning to show signs of deeper PUP token utility. 

Beyond its role as a cultural statement, PUP is linked to community engagement within HyperEVM, and its integration as a booster for participation could expand as the project matures.

The fact that PUP was designed with no fundraising and no private allocation has also enhanced its credibility. 

This transparent distribution model ensures that every holder, whether early or late, is participating under the same rules, an uncommon trait in a market often criticized for insider advantages.

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FAQ

What is PUP token?

PUP is a community-driven meme token launched on Hyperliquid and HyperEVM, designed without fundraising, insiders, or private allocations.

Why is PUP trending now?

The token has seen a surge in trading volume, community activity, and price growth, making it one of the standout meme coins in recent weeks.

What is the current PUP token price performance?

PUP rose from an airdrop price of $0.002 to a peak of $0.190 and currently trades significantly higher than its lowest recorded price.

What is the market cap of PUP token?

As of now, the PUP token market cap is around $37.8 million with a fully diluted valuation of $58.6 million.

Does PUP have utility beyond memes?

In addition to its role as a cultural and community token, PUP offers utility in the Hyperliquid ecosystem, including XP booster features.