Baby Pengu and a meme coin inspired by HP Lovecraft in focus

In the fast-paced world of crypto trading, meme coin and decentralized finance (DeFi) platforms are generating curiosity among investors. Three tokens gaining attention on Sunday are Baby Pengu, Shoggoth and Strips Finance.

While Baby Pengu experienced a dramatic increase of over 331%, driven by its charming baby penguin brand, Shoggoth turned heads with its unique homage to HP Lovecraft’s spooky creations, and in doing so, rode a growth wave of over 126%.

Meanwhile, Strips Finance is carving out a niche in the DeFi space by providing a platform for users to hedge and speculate on interest rate derivatives.

Here’s a closer look.

Baby Pengu

Baby Pengu (BABYPENGU) operates on the Base blockchain. It experienced significant price fluctuation as of December 22; At last check on Sunday, it was up a significant 331% to around $0.29 per token.

According to Coinbase, the total supply of the token is limited to 1 billion, with approximately 186 million tokens currently in circulation, which translates into a market cap of approximately $54 million, according to Coinbase.

Trading activity is primarily conducted on decentralized exchanges; Uniswap V2 (Base) is a notable platform for BABYPENGU transactions.

The meme coin apparently took its name and logo from an image of a cartoon baby penguin. See the table below.

Courtesy of CoinGecko Shoggoth

Shoggoth (SHOGGOTH) was up more than 126% at last check on Sunday.

The market value of the coin currently hovers around $56.7 million.

Shoggoth, a meme token on the Solana blockchain, is named after the fictional creature found in the stories of author HP Lovecraft. It was first launched on the Pumpfun platform and has a circulating supply of 1 billion tokens.

Shoggoth is actively traded on decentralized exchanges like Raydium, with daily trading volume of approximately $6,340 as of December 22.

Despite its niche appeal and satirical tones, Shoggoth has seemingly captured the imagination of crypto traders. See the table below.

Courtesy of CoinGecko Strips Finance

Strips Finance (STRP) is a decentralized platform focused on interest rate derivatives, allowing users to hedge and speculate on interest rate movements.

Operating on the Arbitrum and Binance Smart Chain (BSC) networks, Strips Finance offers decentralized exchange services for interest rate swaps and fixed income products.

Its native token, STRP, was up over 81% at last check on Sunday. It is currently trading around $1.03, with a market cap of just under $33 million and a circulating supply of 30 million tokens.

STRP can be traded on exchanges such as Sushiswap and Gate.io, with the STRP/USDC.E pair seeing the most activity.

Courtesy of CoinGecko