After Degen announced the launch of Layer 3 blockchain, DEGEN surged 72% in 24 hours

Bitget market data shows that Meme concept tokens have strongly risen in the past 24 hours, including:

WIF has increased by 18.63% in the last 24 hours, currently priced at $3.74;
DOGE has increased by 13.16% in the last 24 hours, currently priced at $0.223;
DEGEN has increased by 72% in the last 24 hours, currently priced at $0.02363;
BOME has increased by 10.72% in the last 24 hours, currently priced at $0.01435.
In previous news, Degen announced the launch of a low-cost Layer-3 blockchain called Degen Chain which is built with Arbitrum Orbit and AnyTrust DA and uses Base as its settlement layer. The native Gas token for Degen Chain is DEGEN; this announcement may be what caused DEGEN's significant rise.