Good Gensler coin has increased over 3000% in the past week as memecoins continue to rise this month.
created on April 21st as a prank in response to Gensler's testimony, with a market cap of only $50,000. The market capitalization of the meme currency is $8,082,738 as of this writing.
Over a million tweets have been sent about the Good Gensler memecoin, which has been trending on Twitter.
Memecoins have seen a rise in popularity recently.
Earlier, the values of the frog base memecoins "pepe" and "McPepe" increased by over 1000 times as they gained popularity on social media.
Currently, the prices of bitcoin and ethereum are below $28,000 and $1900, respectively.
Though these meme coins may look like a lucrative investment, most of them usually turn out to be pump and dump schemes given their market cap size.