The post SKI surges 25% on news of backing from a US lawmaker appeared on BitcoinEthereumNews.com.
SKI, the native token of Ski Mask Dog, saw a significant rally on Dec. 2 following reports that a United States lawmaker has invested in the meme coin. Ski Mask Dog (SKI) soared 25% to an intra-day high of $0.237 on Dec. 3, bringing its market cap up from around $187 million recorded the previous day to over $235 million when writing. Built on Base, Coinbase’s Layer 2 blockchain, the SKI meme coin has captured attention for its strong community-driven ethos, boasting over $6 million in trading volume within the last 24 hours. Although initially abandoned by its developer, SKI experienced a remarkable revival driven by its passionate community, resulting in a significant surge in both value and popularity. Why did SKI rally today? SKI’s recent rally followed news that Representative Michael Collins, a Republican from Georgia, increased his exposure to SKI tokens by acquiring an additional $15,000 worth of the meme token as part of his latest investment in the sector. Meme coins like SKI often rally after endorsements from high-profile figures, as retail investors tend to follow their lead, driving demand once the token captures mainstream attention. A similar rally transpired in December following Collin’s previous investment in SKI, which led to a 10% jump in the meme coin’s price. Adding to the momentum, community speculation about a potential Binance listing for SKI also surged after Binance’s recent X post featured a man in a skiing suit checking charts on a ski lift, which many interpreted as a subtle nod to the meme coin. SKI has already made its way onto Binance Alpha—a platform within Binance Wallet (formerly Binance Web3 Wallet) that showcases tokens potentially under consideration for future listings on the Binance Exchange. Listings on major exchanges like Binance or Coinbase often have a major impact on…