Velvet Capital’s token, VELVET, surged approximately 54% over the past 24 hours on Tuesday, climbing to around $0.69 amid a sharp rise in trading volume.
The rally coincides with intensifying interest in SocialFi platforms that combine social feeds, real-time wallet tracking, and seamless trading—tools increasingly used for meme coin speculation and following key opinion leaders (KOLs).
As of 1:30 PM UTC – August 11, 2026, the token swiftly surged from $0.4300 to $0.8415 before a push back at $0.69—per CoinMarketCap data. Its market cap sits near $286 million with a 24 hour trading volume hovering near $30 million.
The primary catalyst behind the price surge in VELVET token is the broader SocialFi buzz, fueled by the rapid adoption of apps like FOMO. This trending crypto trading app has emerged as a leading mobile-first social trading platform, allowing users to follow top performers, view live trade activity, and copy positions with minimal friction. Its focus on meme coins, easy onboarding via Apple Pay or simple logins, multi-chain support (primarily Solana, plus Base and others), and features such as leaderboards and alerts have attracted a large retail audience seeking quick access to trending tokens without traditional DeFi complexity.
Velvet Capital is capitalizing on the same trend through its Velvet X terminal, often described as a SocialFAI (Social + Finance + AI) experience. Velvet X claims to enable users to track smart wallets and KOLs across more than 13 million addresses, share alpha on a social feed, and execute cross-chain spot and perpetual trades.
As FOMO, Velvet X and similar SocialFi applications normalize copy trading and social discovery for meme coins, capital and attention have rotated toward tokens linked to these ecosystems.
Traders view platforms that surface early KOL and smart-money activity as providing an edge in fast-moving markets. Velvet’s combination of social intelligence, multi-chain execution, and AI tools has kept it relevant in these discussions, contributing to the latest price momentum.
Read: Trader Turns $50K Into $800K Bet on Robinhood Chain Memecoin
The surge in Velvet token price also reflects heightened short-term speculative interest in the SocialFi narrative. Volume spikes and the nearly 50% daily gain highlight how retail flows are chasing platforms that simplify meme coin trading and influencer following. Though, VELVET remains significantly below its June all-time high near $2.09, underscoring the token’s volatility.
Sustained gains will likely depend on continued growth in SocialFi user activity and Velvet X’s ability to convert the FOMO-driven buzz into ongoing platform usage. For the moment, the move illustrates how social trading apps focused on meme coins and KOL copy trading are shaping near-term crypto price action.
