Just as memecoins on Solana looked to be dying off for good, an early 2024 trench favorite has skyrocketed 21,000% in the past week with no apparent catalyst.

AURA, which originally launched in May 2024, reached a previous all-time high market capitalization of $70 million roughly two months later. However, the token slowly fell out of favor as AI agents took over the degen scene on Solana, before eventually hitting new lows after the LIBRA memecoin scandal.

The memecoin, which looked to be all but dead, eventually retraced as low as a $500,000 market capitalization at the beginning of April. There were a few strong relief rallies up to the $2 million range in May, which now look like they may have been related to heavy accumulation from insiders.

AURA is now up 21,000% over the last week, and 16,000% in two days, turning some of the token’s last few believers into millionaires in a matter of hours.

Onchain analytics platform Bubblemaps was quick to point out that 215 addresses spent $4 million to buy 30% of the AURA supply, sarcastically calling it “totally organic.”