Release: 2024/11/02 05:24 Reading: 434
November 2, 2024 at 01:23 AM GST
Updated: October 31, 2024 at 05:05 PM
3-minute read
News
Memecoins have surged in popularity, captivating the crypto world with their unique communities and innovative tokenomics. Leading the pack, Shiba Inu (SHIB) and Floki (FLOKI) dominate the Ethereum blockchain, driving acceptance through creative ecosystems, while PEPE and Solana's Bonk Coin (BONK) rise with community-driven support and strategic use cases.
Shiba Inu: The Memecoin Phenomenon Redefining Payments
Shiba Inu, among the popular decentralized Ethereum tokens, has attracted significant recognition and become a leading memecoin. With a large community, SHIB is accepted as payment in many places and is actively traded on ShibaSwap, an ERC-20 DEX designed for the token. Ranked 12th by CoinMarketCap, SHIB trades at $0.000019, up 2.91% over 24 hours, with a market cap of $11 billion and a trading volume of $756 million.
PEPE Gains Popularity with Deflationary Model and Community Support
PEPE, another Ethereum-based memecoin, has gained attention as a tribute to Pepe the Frog. This deflationary cryptocurrency has a no-tax policy and has seen significant demand. Currently trading at $0.000010, PEPE has a 6.6% jump in the last day, with trading volumes of $832 million.
FLOKI: Building an Ecosystem Beyond a Meme
FLOKI, inspired by Elon Musk's dog, has established a niche in the memecoin world. It is the native currency of the Floki ecosystem, which includes projects such as Valhalla (NFT metaverse), FlokiFi (DeFi suite), and FlokiPlaces (merchandise/NFT marketplace). FLOKI trades at $0.000147 with a 235 million volume in 24 hours, up 2.33% in value. With around 9.6 trillion tokens in circulation, FLOKI ranks 56th on CoinMarketCap.
Bonk Coin Boosts Liquidity in Solana Ecosystem
BONK, a Solana-based memecoin, has generated buzz in the Solana community through airdrops and traction. Aiming to provide liquidity on Solana DEXs, BONK is a community-centric alternative. It trades at $0.000022, a 1.41% increase from 24 hours ago, with a market cap of $1.6 billion.
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