Memecoin Frenzy Ignites as TST, JAILSTOOL, and CAR Tokens Soar

Bitcoin and crypto markets are still recovering, but memecoin mania remains strong. Over the weekend, three major tokens surged, capturing traders’ attention.

BNB Chain’s TST token skyrocketed to a $300 million market cap after Binance founder Changpeng Zhao mentioned it on X. TST was created as a community experiment following a tutorial on issuing tokens. Despite stepping down from Binance, Zhao acknowledged memecoins’ speculative nature and cultural appeal, cautioning against opposing the community.

Meanwhile, Barstool Sports founder David Portnoy jumped into memecoin trading, first backing "Montoya por favor," which hit a $14 million market cap before crashing to $1 million. He later promoted a Josh Allen MVP coin, which spiked to $12 million before collapsing. Accused of orchestrating pump-and-dump schemes, Portnoy defended his moves, citing transparency. Following a joke about potential legal trouble, a JAILSTOOL token emerged, which he also bought and promoted. The token soared to $200 million at its peak before stabilizing at a $78 million market cap.

In an unexpected twist, the Central African Republic (CAR) launched its own memecoin, claiming it would boost national development. President Faustin-Archange Touadéra, known for making Bitcoin legal tender, endorsed the token, which hit a $527 million market cap—nearly a quarter of the country’s GDP. However, doubts arose as its website was taken down and some suspected the president’s video was a deepfake. Solana’s Jupiter DEX is investigating the token’s legitimacy.

As speculative mania grips the market, traders remain eager for the next viral memecoin, but caution is advised.