Meme Coin Market Recap: What You Need to Know
This week, catch up on the latest from the meme coin market:
The Meme Coin Market: A Snapshot
In the past 24 hours, the meme coin market capitalization saw a 5% dip, currently standing at $39 billion.
- Neiro (NEIRO) emerged as the top performer with a 49.5% surge to $0.00007643.
- RyuJin (RYU) and Fwog (FWOG) followed with over 30% appreciation.
- On the flip side, ETHEREUM IS GOOD (EBULL) experienced a 33% drop to $0.00168.
- Apu Apustaja (APU) and Billy (BILLY) tumbled around 19.5% each.
Top Meme Coins by Market Cap
When we look at the top 10 meme coins based on market capitalization, they are all in the red zone:
Top Meme Coins Fell Over 63% on Average in a Year
Major meme coins have witnessed price declines from their yearly highs, with DOGE plunging by 75% and SHIB down by 85.3%.
- BRETT plummeted nearly 90% from the annual high.
- On average, the top 10 meme coins saw a 63.73% decline to their current prices.
PolitiFi Coins Surge Ahead of Meme Coins
PolitiFi coins, a subcategory of meme coins, outperformed the broader meme coin segment from January to August 2024.
- PolitiFi coins surged by 782.4% compared to a 90.2% rise in meme coins.
- While PolitiFi coins show promise, they still lag significantly behind the meme coin market, noting a 1.5% market share by August 25.
ConstitutionDAO Leads PolitiFi Charts
ConstitutionDAO (PEOPLE) claimed the top spot in the PolitiFi category with a market cap of $385.6 million, marking a significant jump since the start of 2024.
- MAGA (TRUMP) captured the second position with a market cap of $178.9 million, showcasing substantial growth throughout the year.
- MAGA Hat (MAGA) secured the third spot with a market value of $35.5 million, demonstrating robust performance since its inception.
Hot Take: Summary of Meme Coin Developments
Stay informed on the meme coin market trends and notable movements to make informed decisions on your investments.
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