The announcement of Pitbull's new album titled Pitcoin has become a trigger for the rapid growth of memecoins with the same name. Within 24 hours, tokens inspired by this event surged in price by approximately 100%, with daily trading volume exceeding $583,000. This is yet another confirmation of how big names and viral news instantly shake up the speculative market.
The rapper himself, whose real name is Armando Christian Pérez, only mentioned the album on social media platform X, but none of the Pitcoin tokens received his official endorsement. Nevertheless, this was enough to spark a wave of enthusiasm among hunters of quick profits.
Instant market reaction
The key token PITCOIN began trading in a Solana (SOL) pool almost immediately after the album title became known on August 12. On the PumpSwap platform, liquidity reached $54,387, and daily trading volume was 14 times higher than that of the closest competitor. In parallel, a version of the token appeared on Uniswap V4 on the Robinhood network — within seven hours its value grew by 207%, with a market capitalization of $35,475.
However, most copies went unnoticed. Currently, dozens of tokens are trading under the name Pitcoin, and a significant portion of them have a market cap that does not even reach $3,000. This is a typical picture for memecoin hype: only a few attract real interest, the rest are just background noise.
A familiar scenario
Similar surges have been observed in the industry more than once. In February 2025, Elon Musk published an image of Dogefather, and within hours developers launched new memecoins, two of which grew by 122% and 137% in a matter of minutes. In May, Musk's username change to Gorklon Rust led to the emergence of Gork tokens, which skyrocketed by 7000%.
Kanye West faced the same issue before launching the YZY project. He warned his followers that all cryptocurrencies named after him were fake, but ultimately launched his own YZY token in August last year.
My take: The memecoin market continues to operate on the same template — a big name, instant issuance, and uncontrolled speculation. Investors should remember that without official confirmation from a celebrity, such tokens are a lottery with extremely low chances of success. In this case, Pitbull gave no signals of support, so most of these coins are doomed to obscurity.