In an unexpected swing amid the ongoing bull run, Sad Hamster (HAMMY) – a relatively obscure memecoin – skyrocketed by nearly 50% in the past 24 hours.

Sad Hamster (HAMMY) token price surged by nearly 50% in the past 24 hours, following a spotlight from Elon Musk.

The memecoin, which had remained relatively obscure until now, saw a surge in price after Musk highlighted a tweet showing a peculiar U.S. government expenditure of over $3 million to a study involving hamsters on steroids engaging in fights.

Musk’s ironic and humorous tweet sparked a flurry of attention towards the Sad Hamster meme coin, with driving its trading volume and price to new heights.

As per Coingecko data, HAMMY went as high as $0.05 and is currently trading around $0.041 – up 37% in 24 hours.

Elon’s influence on the memecoin market is well-documented, with assets like Dogecoin and Shiba Inu seeing significant price movements following his tweets in the past. This time it was for HAMMY that reaped the benefits and spiked overnight.

Shortly after Musk’s tweet went viral, the hashtag #SadHamster began trending on X with memes and jokes flooding the platform. With this much attention, the HAMMY token gained an enthusiastic following seemingly overnight.

While HAMMY remains a speculative asset, its sudden rise underscores the unpredictable nature of the cryptocurrency market and the influence of high-profile personalities like Musk. Whether HAMMY will retain its newfound status or fade back into obscurity remains to be seen, the “Sad Hamster” has plenty to celebrate.

Also Read: PNUT Coin Rockets 1,500%, Market Cap Reaches $1.9 Billion

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