Memecoin Activity Picks Up as ASTEROID Market Cap Exceeds $25M

The memecoin space is showing fresh activity this week. The catalyst is unconventional: a Shiba Inu plush toy that previously floated in zero gravity during a SpaceX mission. ASTEROID is an Ethereum-based memecoin tied to that toy, which flew on SpaceX's Polaris Dawn mission in September 2024. On Friday the token climbed over 70,000% in 24 hours, reaching a market cap of roughly $28 million. Trading volume exceeded $43 million based on DexScreener data. Some early holders reported six-figure gains. I would note that these moves are typical of low-liquidity memecoin dynamics. Rapid appreciation followed by equally rapid drawdowns is a common pattern. Anyone tracking this sector on Coincex should watch volume sustainability and liquidity depth before drawing conclusions about broader recovery. The key question now is whether this activity persists beyond a single token narrative or fades as quickly as it appeared.