Key Takeaways:
The Ethereum-based memecoin Wojak (WOJAK) registered a price increase of more than 300% on April 20, 2026, as speculative interest in the Ethereum memecoin ecosystem showed signs of heating up.
"The move in Wojak is indicative of a broader risk-on sentiment returning to the memecoin sector on Ethereum," said a researcher at on-chain analytics firm CoinGecko. "We are observing a significant uptick in trading volumes for these types of assets, although they carry substantial risk."
Data from CoinGecko shows the price surge was accompanied by a sharp rise in trading volume across decentralized exchanges on the Ethereum network. The event follows a period of explosive growth for other memecoins, attracting retail traders seeking high-risk, high-reward opportunities. The broader trend points to a potential micro-season for Ethereum-based tokens, distinct from activity on other chains like Solana.
The sharp price movement underscores the potential for significant volatility within the memecoin market. While the gains have created substantial profits for some traders, the sector is known for rapid price corrections. The sustainability of this rally may depend on whether broader sentiment in the crypto market, including for majors like Bitcoin and Ether, remains bullish.
This article is for informational purposes only and does not constitute investment advice.
