Meme Coins Shine with Impressive Gains
Meme coins have been making a comeback in the crypto market, with significant gains in the past couple of days. These coins, which were initially slow to gain momentum, have now emerged as top gainers in the market. Let’s take a look at some of the leading meme coins that have performed exceptionally well.
Floki Inu (FLOKI) Takes the Lead
When the crypto market rally started, Floki Inu (FLOKI) was lagging behind other meme coins. However, things changed on Thursday when FLOKI broke out of its trading range and experienced a remarkable surge. Over the past week, its price has increased by over 116%, and in just one day, it saw a 24.7% rise, making it the top gainer in the market. This puts FLOKI ahead of other rapidly rising coins like NEO and INJ.
Pepe Coin (PEPE)
PEPE coin has also shown strong performance among meme coins. It quickly followed the market recovery and is still in the green with an 86% increase over the past seven days. After falling more than 50% from its August high, PEPE has managed to recover and regain its position as the third-largest meme coin with a market cap above $500 million.
Baby Doge Coin (BABYDOGE)
Baby Doge Coin (BABYDOGE) has surprised investors with its rally, although it has been less prominent compared to other meme coins. Nevertheless, BABYDOGE has seen a respectable increase. Its gains over the past week stand at 42.3%, with daily gains of 14.3% and an additional 4.6% in the last hour. This sustained interest suggests that BABYDOGE may retain its gains better than its counterparts.
Dogecoin (DOGE) and Shiba Inu (SHIB)
Dogecoin (DOGE) and Shiba Inu (SHIB) have also followed the market trend, but their gains are not as significant as those of smaller meme coins. DOGE has recorded a 19.1% increase over the past seven days, while SHIB has seen a 13.9% gain during the same period. Interestingly, these two largest meme coins are experiencing a slight decline in daily gains, with DOGE down by 1.1% and SHIB down by 0.4%.
Hot Take: Smaller Meme Coins Outperforming in Bull Run
These recovery figures indicate that smaller meme coins tend to perform better during bull runs due to their lower market cap. This makes it easier for their prices to rally higher and generate higher gains for investors.
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