Hyperliquid's PURR Memecoin Leads Major Memecoins With 23% Weekly Gain

$PURR, the memecoin on @HyperliquidX, is the fastest-growing major memecoin in the sector this week, up about 23% at the time of writing. The move puts it ahead of gains from other large memecoins, including @pepecoineth$PEPE and @ArtificiallyInu$AI, which have also posted strong weekly performance.

Price trackers point to a sharp weekly move. CoinGecko data shows a 31.40% price increase in the past 7 days for the token, with the price at roughly $0.126 at the time of that snapshot. Figures differ between data providers and update through the day, so readers should check live prices before drawing conclusions.

What Is PURR?

Purr (PURR) is a deflationary memecoin launched as the first spot trading token on the Hyperliquid L1 blockchain.Alea Research notes it was the first native spot token launched on the platform by the Hyperliquid team on April 16, 2024.CoinMarketCap's academy describes it as a cat-themed memecoin listed exclusively as a spot market on Hyperliquid at launch.

The supply structure is fixed and public. It was introduced with a maximum supply of 1 billion tokens. Of this, 500 million PURR were distributed proportionally to points holders, and 400 million tokens initially deployed as Hyperliquidity (HIP-2) were burned.Trading fees paid in PURR are burned, reducing the token's supply over time.

PURR is not Hyperliquid's official token. Bybit's educational wiki states that PURR is not Hyperliquid's official token, which is $HYPE. Pine Analytics describes PURR as the largest market cap and highest volume native Hyperliquid token other than HYPE itself.

Risks and Context

PURR remains well below its previous peak. CryptoRank lists an all-time high of $0.69 on Dec 16, 2024, and its data showed the token trading roughly 85% below that level when last updated. Memecoins can move sharply in either direction, and PURR carries no formal protocol utility. Pine Analytics also cautions that a new token with an active team and a real product could emerge on Hyperliquid and absorb attention and capital that currently defaults to PURR.

Readers should also take care not to confuse the memecoin with the Nasdaq-listed stock of the same ticker. Hyperliquid Strategies Inc is a digital asset treasury company focused on accumulating HYPE. It is a separate asset from the PURR token.

Sources

• CoinDesk: Purr (PURR) price and token overview
• CoinGecko: Purr (PURR) price and 7-day performance
• Alea Research: Hyperliquid and PURR thesis