Meme Tokens Buck the Trend and Show Growth
The meme coin market, despite an overall decline in the crypto industry, has seen a 3.2% increase in the last 24 hours. This sector has achieved approximately $1.25 billion in global trade volume. The leading meme coin, Dogecoin (DOGE), has experienced a 1.2% rise and has increased by 2.9% over the past week.
Surges and Declines in the Meme Coin Segment
While Shiba Inu (SHIB) saw a slight decline of 0.1% on Sunday, it has appreciated by 6.4% in the last week. Bonk (BONK), ranked third in the meme coin category, surged by 9% during Sunday’s trading period and has climbed 44.2% in the past week. Other meme tokens, such as Floki (FLOKI) and DogWifHat (WFI) have shown growth as well.
Mixed Performance of Meme Tokens
Some meme tokens, like PEPE and Corgiai (CORGIAI), experienced minor declines but have shown overall growth over the week. However, meme tokens like MYRO, Magical Tux (TUX), and Sacabam (SCB) have witnessed declines against the U.S. dollar. Despite this, the meme coin market’s net value now stands at $21.94 billion, representing 1.24% of the total value of the crypto economy.
Hot Take: Meme Tokens Continue to Shine Amidst Crypto Slump
Recent data indicates that while the overall crypto market is facing a decline, meme tokens have managed to defy the trend and show positive growth. With surges observed in popular tokens like Dogecoin and Bonk, as well as gains achieved by several meme tokens in the double digits, the meme coin sector is proving to be resilient. This demonstrates the enduring popularity and interest in meme-based cryptocurrencies within the crypto community.
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