[DigitalToday reporter Chi-gyu Hwang] Bags.fm, a Solana-based token launchpad, is drawing attention after the meme token Gas Town surged sharply.

The Defiant reported on Thursday that the GAS token surged 682 percent over the past 24 hours. Over the same period, RALPH (Ralph Wiggum), CMEM (Claude Memory) and VVM (Vibe Virtual Machine) each rose more than 400 percent.

GAS is a token linked to the open-source AI coding agent project "Gas Town" created by former Google developer Steve Yegge. Yegge wrote on his Medium blog that after the token launched through Bags, trading volume surged and fee revenue also rose quickly.

The move affected the Bags platform more broadly. Newly launched tokens TERRA (Terraformation) and RedwoodJS surged 84,000 percent and 31,000 percent, respectively, showing speculative demand. Bags posted a 33.5 percent share in trading volume worth $293 million on Jupiter’s launchpad leaderboard, ranking second behind pumpfun.

Jupiter said Bags had seen little trading volume from late last year through early this year, but trading began to rise sharply from the day before as the GAS token surged. Experts said the spike resembled an "attention-based" speculation cycle seen last year on Zora, a social platform in the Base ecosystem.