In just one month since it launched, $PHNIX has grown immensely. The memecoin first arrived on the XRPL blockchain in early December, and has since thrived. Although the crypto market noted a stark correction, it has seen its market cap surge. That had led much of the crypto community to take notice.
Recently, XRP has become a hot topic, with its price soaring from around $0.45 to over $2.40 in a matter of days—a significant move for a cryptocurrency with such a large market cap. Although some corrections have followed, this XRP rally has brought renewed interest to its blockchain, XRPL, which has become a fertile platform for new projects like memecoins.
XRP has long been known for its resilience. Moreover, big changes in 2024 has seen interest in XRP grow; which has propelled $PHNIX. XRP has continued to show its worth through its perseverance, rising like a phoenix from the ashes. That very resilience has made the mythical creature a mascot for the XRP community. Now, $PHNIX is bringing that symbol to life.
$PHNIX is the chosen one, and it will prove itself to the world very soon.
We are just getting started, consolidating to become the first XRPL token to reach extraordinary heights. In the end, we will always rise! 🐦🔥$XRP pic.twitter.com/KdwjACfXhn— Phoenix – $PHNIX (@phnix_xrp) January 4, 2025
Also Read: XRP Surges to 4th in Market Cap, Ripple CEO Eyes Big Moves in 2025
The $PHNIX Memecoin: Representing the Spirit of XRP
2024 proved to be monumental for Ripple (XRP). The crypto struggled as it fended off regulatory challenges that had it embroiled in a years-long lawsuit. Yet, the fight that the project has showed has continued to inspire. And that is how the $PHNIX token was born. A surging memecoin, the project is formed after the spirit of XRPs history. Moreover, that connection has led it to be embraced by longtime holders of the cryptocurrency.
The PHNIX development team has sought to leverage its mass appeal to engage its growing community. Their TikTok account already has more than 15,000 followers as they share memes and animations across social media.
Yet, PHNIX is more than just a memecoin. Indeed, its growing endorsements have clearly shown that fact. It has already become the leading memecoin on the XRPL blockchain, while its looking to compete with some of the biggest in the entire industry.
Also Read: Ripple (XRP) Poised to Hit $4 All-Time High: Here’s When
Currently, XRP has a market capitalization of over $210 billion. However, PHNIX, only has a market cap of less than $100 million. This is a stark difference from other networks. In comparison, the most highly valued Solana memecoin boasts a market cap exceeding $2 billion, even though Solana’s total market cap is smaller than that of XRP.
Although the, the memecoin market on XRPL is still in its infancy and holds substantial potential for growth. $PHNIX is available on decentralized exchanges like FirstLedger and X Magnetic on the XRPL network, with no transaction fees.
It’s also listed on centralized exchanges such as MEXC and Bitget, with far more listings on the horizon. For users new to decentralized platforms, the team has shared a step-by-step video tutorial pinned to their TikTok channel.
For more information, be sure to stay up to date on PHNIX through its website, X (formerly Twitter) account, and Telegram.