Investors Eye $ALPHA Memecoin Ahead of Incoming Airdrop

Among the most talked-about memecoins within the past week is $ALPHA, a Solana-based meme token launched on January 24th. Within the past 24 hours, the digital asset ranked among the top trending cryptocurrencies on the price-tracking website CoinGecko. Here’s a detailed breakdown of what $ALPHA is and the reason behind the increased attention.

What is ALPHA?

Alpha ($ALPHA) is a Solana-based memecoin launched via the popular memecoin generator, Pump.fun. Like the first Greek letter under the same name, Alpha embodies the idea of an individual being above others. The project encapsulates the spirit of resilience, dominance, leadership, and strength. The memecoin’s favorite phrase is “Be what you hold.”

As many as 24.8K followers on X have resonated with the project’s background. A week after its debut, more than 32,660 wallets held the $ALPHA token, which has 769.99K tokens in circulation. As of this writing, the token has a market capitalization of $50 million, reflecting investors’ massive interest in the digital asset.

The token’s price has soared to $0.0627 at the time of writing, representing a 62,700% surge over the past week. This price surge has become a new normal in the memecoin market, as traders often record paper profits worth millions within a short time. While the crypto market has been slightly bearish recently, $ALPHA has danced against the trend, with many investors stacking the crypto.

Why is $ALPHA Trending?

The Alpha team has recently announced an airdrop for $ALPHA holders. Thus, potential beneficiaries have become expectant for the incoming Solana-based memecoin drop. According to data from CoinGecko, the Solana memecoin has recorded a 24-hour trading volume of $9.1 million, signaling increased investor interest.

While investors stack the $ALPHA and await the airdrop, a recent X post from the team puzzles the alpha community as they are now unsure of what form the airdrop will be, whether in the $ALPHA token or another yet-to-be-minted crypto memecoin.

What if the airdrop is not $ALPHA tokens.

What if it was something else we’ve been working on for weeks.

Something REAL alphas always wished for.

Be here in 2 days for the big announcement, and most importantly..

STAY ALPHA.

— ALPHA (@alphaofsol) January 30, 2025

Interestingly, if the Alpha team decides to introduce a new token, it will not be the first to airdrop a different memecoin to token holders and community members. The popular Solana-based Jupiter exchange team had their native token, $JUP, but minted and airdropped the $WEN memecoin to their long-time app users and active community members. The nature of the forthcoming alpha team airdrop will be clarified on February 1, 2025.

In addition to rewarding $ALPHA holders, the Alpha team has actively rewarded active community members to boost participation and attract others to join the fledging project community. Concluding Thursday, the team gave away $1,000 each in their native token to active community members who posted on X with the #AlphaMovement hashtag and the $ALPHA tag.

Similarly, the project plans to build a community on TikTok. Thus, it has encouraged members to make bullish posts on the social media platform, highlighting what interests them most in the alpha movement. A reward of $5,000 in $ALPHA is also available for the winner.

Notably, the Alpha team wants to hold and lock a considerable portion of the $ALPHA token. Therefore, they buy large units of the token daily from the open market, boosting their plans to establish a strategic $ALPHA reserve.