Meme Coin Market Value Soars by 10% in 24 Hours
The value of meme coins has experienced a significant surge against the US dollar, with the entire meme market reaching a market valuation of $16.8 billion, representing a 9.9% increase over the past 24 hours. The leading meme coin, dogecoin (DOGE), has seen an 11% rise in value during this period. Following closely behind is shiba inu (SHIB), which has experienced a 7.8% increase. DOGE has recorded a global trade volume of $1.48 billion over the past day, while SHIB has seen around $428 million in trade volume.
Pepe and Floki Experience Gains, While Other Meme Coins Vary
Pepe (PEPE) has climbed 8.9% against the dollar, and floki (FLOKI) has witnessed an impressive rise of 28.6% in the last 24 hours. Baby doge coin (BABYDOGE), the fifth-largest meme coin by market cap, has also seen an increase of 7%. However, “harrypotterobamasonic10inu” and dogelon mars (ELON) have experienced slight fluctuations, with a decline of 2.2% and an increase of 1.7%, respectively. Meanwhile, token wall street memes (WSM) saw a significant decline of 18.2% against the dollar.
DOGE and SHIB Dominate Trade Volume
Although the meme coin economy has witnessed a global trade volume of $2.66 billion over the past day, a majority of this volume comes from DOGE and SHIB. These two leading meme tokens contribute approximately 71.42% of the day’s global trade volume. While the top five meme coins have seen notable gains in the last 24 hours, the biggest leaders in terms of percentage increases today are pepesol, strawberry elephant, and wassie, which have experienced gains ranging from 70% to 290%.
Hot Take: Meme Coins Continue to Rise, Creating Excitement in the Crypto Market
The meme coin market has seen a remarkable surge in value, with a 10% increase against the US dollar in just 24 hours. This upward trend has contributed to the overall market valuation of $16.8 billion, indicating the growing popularity and demand for meme tokens. Leading coins like dogecoin and shiba inu have played a significant role in driving the trade volume, while other meme coins have also experienced varying levels of success. As meme coins continue to capture attention and gain traction, it is clear that they have become an exciting aspect of the crypto market.
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