Meme Coin Market Cap Drops, Trading Volume Surges: DOGE and SHIB Lead
Release: 2024/08/12 19:38 Reading: 716
CMC Highlights Top Performers Despite Meme Coin Market Cap Decline
CoinMarketCap (CMC) reports a 5.67% drop in the total market capitalization of meme coins, while trading volumes have surged by 41.5%.
Key Performers
Despite the market cap decline, certain meme coins have shown resilience and continue to attract investor interest.
- Dogecoin (DOGE): The leading meme coin dropped 6.19% in the past 24 hours, yet maintains a market cap of $14.97 billion.
- Shiba Inu (SHIB): SHIB defied the trend, rising 5.18% over the same period, indicating strong investor support.
- Pepe (PEPE): PEPE also recorded gains over the past week, showcasing its potential.
Market Dynamics
While trading volumes have increased, most meme coins have experienced negative price movements in the past 24 hours. However, the active market participation suggests ongoing interest from investors.
Additional Insights
Source: CoinMarketCap*
Disclaimer
Please note that the references to specific cryptocurrencies and trading platforms should not be construed as investment advice. Cryptocurrency markets are volatile, and investors should conduct thorough research before making any investment decisions.
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