Key Takeaways:
A recent mention of Skibidi Toilet Coin ($SKBDI) by a U.S. congressman sparked a significant price increase.
During a discussion regarding a digital asset purchase bill, Congressman Brad Sherman listed Skibidi Toilet alongside major cryptocurrencies like Bitcoin and Ethereum.
This meme coin has gained popularity thanks to its association with a viral YouTube series that amassed over 65 billion views.
The Solana-based meme cryptocurrency, Skibidi Toilet ($SKBDI), experienced an astonishing 80% surge following an unexpected reference during a U.S. congressional hearing.
This surge occurred when Representative Brad Sherman mentioned the coin in a House Financial Services Committee session focused on cryptocurrency regulations.
Congressman Sparks Meme Coin Frenzy with Shoutout to Skibidi Toilet
In his presentation of a bill that seeks to facilitate unrestricted government purchases of digital assets, Sherman included a reference to various cryptocurrencies, notably Bitcoin, Ethereum, Trump Coin, Mongoose Coin, and Skibidi Toilet Coin.
JUST IN: Solana memecoin $SKBDI (@SKBDITOILET) surged 80% after "Skibidi Toilet Coin" was mentioned in a Fed meeting https://t.co/MjM8jjzeZ4 pic.twitter.com/6UlZAs2OmC
— BlockNews (@blocknewsdotcom) June 4, 2025
This mention quickly captured traders’ attention, propelling $SKBDI from relative obscurity to widespread recognition.
Within hours after the hearing, the price of $SKBDI soared 80%, reaching $0.051876, thereby increasing its market capitalization to approximately $3.63 million, as reported by CoinGecko.
Source: CoinGecko
Trading activity also rose significantly, with a 62% increase resulting in a trading volume of $772,084 over the last 24 hours.
Launched in late 2023, Skibidi Toilet Coin has emerged as part of a trend of viral meme coins operating on the Solana blockchain.
The coin draws inspiration from the “Skibidi Toilet” animated series, characterized by its surreal portrayal of human-headed toilets battling against humanoid camera- and speaker-headed foes.
This quirky series has gained immense popularity, accounting for over 65 billion views primarily on YouTube.
Despite the absence of a formal use case beyond its meme culture and community engagement, $SKBDI continues to gain traction. The token is currently trading nearly 190% above its all-time low, although it remains 95% below its peak price of $1.03.
In contrast, other meme tokens mentioned in the same hearing did not experience similar price rallies. Trump Coin dropped 4.3% to $10.94, and Mongoose Coin fell 1.9% to $0.0161.
Mongoose Coin Source: CoinGecko
The sudden rise in interest for Skibidi Toilet Coin has ignited discussions about the potential resurgence of meme coin enthusiasm.
Solana Cools After Meme Surge, But Network Growth Remains Steady
While $SKBDI commanded attention post-hearing, the overall Solana ecosystem presents a more nuanced scenario.
Solana’s primary token, SOL, is presently priced at $154, reflecting a 10% decrease since it encountered resistance at the $185 level on May 23.
Additionally, daily trading volumes have declined by nearly 20%, raising concerns regarding short-term momentum and the possibility of testing the $142 support level.
The volatility affecting memecoins has not spared Solana’s native tokens. Several popular Solana-based meme coins, including FARTCOIN, POPCAT, and PENGU, have seen significant weekly losses, ranging from 17% to 20%.
This decline in meme coin values coincides with a broader slowdown in decentralized exchange (DEX) activity, potentially exerting further pressure on SOL’s price trajectory.
However, there are positive indicators as well. Solana’s total value locked (TVL) has risen to $11 billion, signaling a 14% increase in the past month.
Platforms such as Raydium and Marinade have significantly contributed to this growth, posting gains of 48% and 28%, respectively, indicating ongoing development efforts despite market fluctuations.
Concerns linger around validator incentives associated with maximum extractable value (MEV), which could negatively impact regular users through practices like sandwich attacks and front-running. Researchers, including Dan Robinson from Paradigm, have cautioned that Solana’s high throughput might exacerbate these issues.
In the speculative space of meme coins, the excitement may be reigniting, yet Solana continues to navigate its own set of structural challenges.
The post U.S. Hearing Shoutout Sends Solana Memecoin $SKBDI Soaring 80% – Is Meme Coin Mania Back for Crypto? appeared first on Finance Newso.
