Dogecoin (DOGE) Market Cap Back Above $20 Billion, While WIF Posts Double-Digit Gains
Release: 2024/07/22 22:14 Reading: 653
Cryptocurrency Market Rebounds, Dogecoin Hits Milestone
As the cryptocurrency market recovers, many top 100 cryptocurrencies are experiencing growth. Dogecoin (DOGE), the leading meme coin, has reached a significant capitalization milestone, while Solana's prominent meme coin, Dogwifhat (WIF), continues to perform well.
Dogecoin (DOGE) Market Cap Surpasses $20 Billion
Dogecoin (DOGE), the first and most valuable meme cryptocurrency, has gained approximately 5% of its capitalization overnight. Consequently, its total market cap has eclipsed $20 billion and continues to rise. With a trading volume of approximately $1.6 billion, DOGE has become the fifth most traded cryptocurrency (excluding stablecoins).
As a result, Dogecoin (DOGE) has become one of the top 5 fastest-growing cryptocurrencies. This surge has led to the liquidation of over $2.1 million in DOGE short positions on centralized exchanges (CEXes) in the past 24 hours.
Dogwifhat (WIF) Remains in the Spotlight
Dogwifhat (WIF), a notable meme coin on the Solana blockchain, is another canine-themed cryptocurrency that is garnering attention today. With an impressive 11% increase, it is the second-best performer in the top 100, trailing only TIA, a pivotal cryptocurrency for the modular Layer 1 platform, Celestia.
Other Meme Coins Show Mixed Performance
Shiba Inu (SHIB), another major meme coin, has experienced a modest 0.3% growth today, while PEPE and BONK have each logged a 1.5% increase. FLOKI and POPCAT, on the other hand, have declined in value.
Overall, the cryptocurrency market has witnessed a 0.9% gain today, indicating that the majority of top meme coins have outperformed the market as a whole. Bitcoin (BTC), the largest cryptocurrency, has gained 1% and is currently trading at approximately $67,610.
Cat-Coins Emerge in the Top 100
Notably, Solana (SOL) meme coins and cat-themed cryptocurrencies are among the best-performing segments today. Two cat-coins, Mog Coin (MOG) and Cat in Dog World (MEW), are approaching entry into the top 100 rankings on CoinGecko.
Mog Coin (MOG) reached an all-time high yesterday, peaking at approximately $0.000002445. Despite a slight pullback, it remains up 5% and is poised to replace Neo (NEO) as the 100th largest cryptocurrency, boasting a market cap of over $800 million.
Cat in Dog World (MEW) has exhibited a remarkable 41% surge in the past 24 hours, with its market capitalization exceeding $700 million. Both MOG and MEW may follow in the footsteps of Popcat (POPCAT), Solana's prominent catcoin, which has faced criticism due to allegations of insider trading.
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