Hyperstition #36 — June 20, 2025
Did SOL just rug? Plus, KITTY coin sparks new meta, NEWS Alpha Groups launch Monday, and more.
Solana breaks key support amid macro uncertainty
Solana (SOL) tumbled below a key $140 support level on Friday, trading as low as $136 before partially recovering. The drop followed a broader crypto market pullback driven by geopolitical risk and interest rate uncertainty.
President Trump said he would decide within two weeks on potential US involvement in the escalating Israel–Iran conflict, offering no clear policy direction. Meanwhile, interest rate expectations remained hawkish despite recent FOMC commentary. A Kalshi market shows only a 16% chance of a Fed cut in July.
In Other News…
Hyperstition launches gated Alpha Group for NEWS holders
Hyperstition will launch its first gated Telegram Alpha Group for NEWS holders on Monday. Access requires holding at least 1 million NEWS, or roughly 0.1% of the total supply.
The chats, powered by Collab.Land on Solana, are meant to enable more in-depth, two-way conversations between memecoin KOLs and NEWS tokenholders. Links will be pinned in the main Telegram channel.
Hello Kitty token drives new metas as Labubu retraces
The unofficial Hello Kitty (KITTY) memecoin has sparked a new meta on Solana, triggering a wave of cat-themed and Sanrio-inspired tokens after rallying to a nearly $10 million market cap on Friday.
The rise comes as rival memecoin LABUBU (LABUBU) slides toward $20 million after previously peaking above $70 million in market cap.
The potential “flippening” has ignited rallies in a growing ecosystem of derivatives, including fellow cat-themed tokens like Meow Meow Meow Meow (MEOW) and Orange Cat (OC), along with Sanrio-linked characters such as Kuromi (KUROMI) and melody (melody).
“$KITTY is a 3x from flipping $LABUBU, which one would have to imagine the aroma,” artsch00lreject, a memecoin trader, said in a June 19 X post.
Sanrio is the Japanese entertainment company behind Hello Kitty and a range of other character franchises, including the My Melody universe. A Netflix series based on My Melody is set to debut later this year.
The MEOW and OC tokens both approached $700,000 on Friday following Hello Kitty’s all-time high. They have since retraced to around $300,000 and $150,000, respectively, according to DexScreener.
Kuromi peaked near $800,000 on Friday before pulling back to around $650,000, while Melody topped out at approximately $350,000 and now trades near $180,000, per DexScreener.
The Hello Kitty meta has also sparked the creation of several ultra-low-cap Sanrio-themed memecoins, including Kitty’s Twin Sister (Mimmy), pochacco (pochacco), and Badtz-Maru (BADTZ).
GOR rebounds to $45M as new devs revive Solana fork effort
The team behind Gorbagana (GOR) says development is back on track after a key contributor splintered the project on Thursday, sending its flagship token GOR from a $40 million peak to a low near $15 million.
In an update Friday, crypto lawyer Gabriel Shapiro — who initially helped rally developers around the token — said the community had regrouped around a new team of “doxxed Milady devs” to continue building a Solana fork.
“The power of GORBAGE is strong,” Shapiro posted, adding that work was advancing toward Solana co-founder Anatoly Yakovenko’s 48-hour forking challenge.
The newly reconstituted group has announced plans to fork the Backpack wallet and release a new “Trashpack” version.
According to a post from the Gorbagana Chain X account, only users who have already transacted on the fork will be eligible to test the Trashpack wallet, with access capped at 1,000 whitelisted addresses.
According to DexScreener, GOR surged as high as $45 million in market capitalization on Friday before retracing to approximately $33 million at press time.
Its mascot-style derivative, Gorbagana Daemon (OSCAR), has surpassed $2 million since launching on June 20.
By the Numbers
