The crypto market has gone bonkers lately. Especially after Donald Trump was elected the 47th President of the United States. The POTUS himself launched a coin—a crypto coin, that is—before his second inauguration. Now, the NFL world is getting its share, with Patrick Mahomes leading the pack and reaching new highs before Super Bowl Sunday.
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As the Philadelphia Eagles and Kansas City Chiefs gear up for their showdown in New Orleans, reports suggest that a meme coin inspired by Mahomes—$PM—has surged by 225%, reaching a market cap of $150k. That’s insane, considering how many crypto enthusiasts would have needed to splurge their savings on a coin like this that isn’t officially associated with Patrick Mahomes.
In reality, Mahomes likely has no knowledge of this coin, and he probably never will. Before long, some investors will likely pump and dump their way to quick profits. That’s the typical cycle.
Patrick Mahomes meme coin $PM has been gaining a lot of traction. Now at over $150k market cap pic.twitter.com/utDuPA7o53
— Depressed Eagles Fan (@nfl_rocky) February 9, 2025
A meme coin, in this case, inspired by an athlete (or a celebrity), shouldn’t be celebrated. These should not be confused with cryptocurrencies like Bitcoin, which is more established. A meme coin is volatile, and its value rises only as long as the trend persists.
Bitcoin is backed by influential people, governments, and is regulated, but the same cannot be said about a meme coin. They surface quickly and vanish just as fast. We’re not claiming Bitcoin is entirely stable either, as it has seen some decline following Trump’s weekend tariff. That’s how the crypto market typically behaves. Still, rookie investors continue to flock to these meme coins, hoping to make a few big bucks.
Another meme coin making the rounds before Super Bowl LIX is tied to the Kansas City Chiefs, with the ticker $THREEPEAT. This coin has experienced exponential growth as well, and if you’re wondering where the ticker name comes from, it’s because the Chiefs are heading into Super Bowl LIX hoping for a three-peat—a feat no other NFL team has achieved.
If they do pull it off, this coin might see a spike, but it’s far from guaranteed. On top of that, there’s another meme coin inspired by Patrick Mahomes’ brother, Jackson Mahomes, which has reached a market cap of $114k. Crypto enthusiasts are speculating that the coin will go even higher, as Jackson will be attending the Super Bowl and watching the game in the same suite as Taylor Swift.
But just a heads-up: that’s all based on speculation.
