Meme Tokens Defy Market Downturn with Surging Trading Volumes
Release: 2024/03/16 00:22 Reading: 617
- Dogecoin and Shiba Inu showcase resilience, with sustained trading volumes despite price declines.
- Pepe, Dogwithat, Bonk, FLOKI, and Memeland also exhibit noteworthy performances despite short-term price fluctuations, signaling strong community engagement.
- The surge in trading volume across various meme tokens underscores sustained investor interest.
Meme coins remain a fascinating aspect of the cryptocurrency market, drawing attention with their resilience amid market fluctuations. Despite the recent market dip, several meme tokens continue to exhibit impressive trading volumes, suggesting sustained investor interest and engagement.
Rootdata, a crypto data provider offering crypto investors data and insights, shared a tweet on X, suggesting that meme tokens may experience an uptick after the market dip, considering their notable 24-hour trading volumes.
As per the data thrown up by CoinMarketCap at the time of writing, the memecoins mentioned in Rootdata’s post have shown robust performance. Leading the pack is Dogecoin, the OG meme coin that has consistently defied expectations. Despite experiencing an 11.88% decline in the last 24 hours, Dogecoin maintained a 1.37% increase over the past week, accompanied by a substantial 56.97% surge in trading volume. As of this writing, DOGE was trading at $0.1666.
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