Meme Coins Outperforming, Here's Who Leads Way
Release: 2024/09/28 20:09 Reading: 488
Meme Coins Outperform Major Cryptos, Driven by Arthur Hayes' Interest
Despite a decline in value for major dog and cat coins, the meme coin sector is once again outperforming major cryptocurrencies. Meme coin enthusiasts are keeping a close eye on Arthur Hayes due to his recent actions.
PEPE and BONK Surge, WIF and POPCAT Decline
Pepe (PEPE) and Bonk (BONK), the top-ranked frog and Solana meme coins, respectively, are the best performers today. With gains of 6.6% and 6.7%, they rank among the top 10 performers within the top 100 cryptos by market capitalization, according to CoinGecko.
Shiba Inu (SHIB) and Floki (FLOKI) have also gained 2.3% and 1.3%, respectively, in the past 24 hours. However, the overall market has declined by 1.3%, with Bitcoin (BTC) showing a slight 0.3% increase.
In contrast, other meme coins are experiencing losses. Popcat (POPCAT), the largest cat coin, has been the worst performer in the top 100, with a 7.4% decline in value over the last 24 hours.
Brett (BRETT) has lost 3.7%, while Dogwifhat (WIF) has shed 1.9% of its capitalization overnight, hovering close to falling out of the top 50 cryptos. Dogecoin (DOGE), the largest meme coin, is up by 0.2%.
Arthur Hayes Drives Pumps in Low-Cap Meme Coins
BitMEX founder Arthur Hayes has humorously ventured into the low-cap meme coin segment, expressing interest in purchasing coins such as MOTHER, Mog Coin (MOG), Smoking Chicken Fish (SCF), and Ponke (PONKE).
The announcement sent a shockwave through the market, with Smoking Chicken Fish (SCF) experiencing a surge in value. The smallest of these coins jumped from $0.04 to over $0.06 in a matter of moments, resulting in a 51% increase.
On September 28, 2024, SCF reached a multi-week high thanks to the boost provided by Hayes' tweets.
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