Meme coins have been dominating the digital asset space in the last 24 hours, with significant gains seen in Shiba Inu (SHIB), Popcat (POPCAT), dogwifhat (WIF), and First Neiro on Ethereum (NEIRO). While altcoins have also shown gains, meme coins have stood out prominently.
According to CoinMarketCap data, meme coins have collectively reached a market capitalization of a staggering $55 billion, marking a 7.9% surge within a day. The trading volume in this sector has exceeded $10.2 billion, contributing to the overall crypto market valuation rise to $2.19 trillion.
The leading meme coins, Dogecoin (DOGE) and Shiba Inu (SHIB), valued at $16.18 billion and $10.5 billion respectively, have witnessed gains of 2.55% and 5.45% in the past day. In the last week, DOGE saw a 1.40% increase while SHIB rose by 1.5%, with current trading prices at $0.1106 and $0.00001786.
SHIB KNIGHT highlighted on social media the formation of a “W” shape pump pattern in Shiba Inu’s price movement, indicating a potential price surge if SHIB surpasses $0.00002. This observation aligns with the current bullish momentum in meme coins.
Other notable meme coins like Pepe (PEPE), POPCAT, WIF, and NEIRO have also experienced significant surges ranging from 5.5% to 35.2% in the past day. NEIRO, in particular, has reached a market cap of $891 million, with a trading volume surpassing $1 billion and a trading price of $0.002109 post a remarkable 105.2% weekly surge.
It’s worth mentioning that POPCAT is trading at $1.42, WIF at $2.71, and PEPE at $0.059837. Additionally, SPX6900 (SPX) has soared by 60%, currently trading at $0.8267 amidst the meme coin frenzy.
Disclaimer: The information presented is for educational and informational purposes only and should not be construed as financial advice. Readers are urged to exercise caution and conduct thorough research before making any investment decisions in the crypto space.
