CHOG, a
meme
coin operating within the Monad ecosystem,
saw its market cap temporarily exceed $10 million
on November 27, based on GMGN market statistics. The token now has a market capitalization of $9.79 million and has recorded $17.9 million in trading volume over the past 24 hours, indicating a surge in speculative trading within this emerging ecosystem. This activity comes alongside the official launch of Monad’s mainnet and its native token, MON, which
has drawn considerable institutional interest
, raising $269 million that was oversubscribed by a factor of 1.43.
The rollout of Monad’s mainnet, announced for November 24, represents a significant milestone for the network, which is establishing itself as a layer-1 blockchain compatible with EVM and has formed key alliances with projects such as
LayerZero
and
Chainlink
. The platform’s token sale attracted more than 85,000 participants, highlighting its appeal among a growing group of crypto investors looking for high-potential, community-focused assets. The rapid increase in CHOG’s value, however, underscores the unpredictable price movements typical of meme coins, which are often influenced by social media trends and speculative trading behavior.
Experts warn that meme coins like CHOG carry substantial risk, as their value is largely driven by temporary community excitement rather than solid fundamentals.
BlockBeats, a blockchain analytics provider
, stressed the importance of caution, pointing out that meme coin prices can drop sharply once the initial excitement fades. This instability is further intensified by the competitive environment among layer-1 and layer-2 blockchains, where networks such as
Solana
and
Ethereum
hold dominant positions. Despite these risks, supporters believe meme coins like CHOG offer retail investors an accessible entry point into blockchain, even if their long-term viability is still in question.
The meme coin sector as a whole has demonstrated strength in 2025,
with the combined market value of meme tokens reaching $47.1 billion
as of November 27.
Dogecoin
(DOGE) and
Shiba Inu
(SHIB) remain the leading names in this space, but new projects on platforms like Solana and Monad are rapidly gaining momentum. CHOG’s rise reflects a broader movement of meme coins leveraging innovative blockchain networks to benefit from network effects and advanced developer resources. For example, Monad’s integration with cross-chain solutions such as
Wormhole
Labs’ Sunrise platform is designed to simplify the process of bringing tokens to Solana, further merging the boundaries between traditional and meme-based crypto assets.
Although CHOG’s short-lived climb to a $10 million market cap highlights the speculative energy around meme coins, it also brings up concerns about the durability of such growth. Institutional players, who are increasingly entering the meme coin arena, remain split in their opinions. Some see meme coins as a cost-effective way to diversify portfolios, while others regard them as passing trends with little real value. The future performance of CHOG and similar tokens will likely depend on their capacity to sustain community interest and avoid excessive overvaluation.
