Why are memecoins up today?
Release: 2024/10/09 04:09 Reading: 850
Resurgence of Memecoins Fuels Market Recovery
The recent surge in cryptocurrency prices has propelled leading memecoins like Dogecoin (DOGE), Shiba Inu (SHIB), and Dogwifhat (WIF) to significant double-digit gains over the past month.
First Neiro on Ethereum (NEIRO), a newly launched memecoin on Ethereum, has experienced the most remarkable rally, soaring over 3,330% over the past 30 days and 63% in the past week. The token has further gained 13% in the last 24 hours. Popcat (POPCAT) follows closely with a 137% monthly gain, while Mog Coin (MOG) ranks third with a 102% increase during the same period.
src="/uploads/20241009/17284230076705a45f4d442.png">
DOGE, SHIB, and Pepe (PEPE) have also witnessed substantial gains, rising 11.8%, 32.8%, and 38% over the monthly timeframe, respectively, while WIF has climbed 63%.
Explosive Memecoin Trading Surge
According to CoinMarketCap, the combined market capitalization of meme tokens has witnessed a remarkable 34.7% surge over the past four weeks, reaching $48 billion at the time of writing. This reflects a renewed surge in investor sentiment towards the sector.
The daily trading volume has experienced a substantial 220% increase, rising from $2.7 billion on September 8th to a monthly high of $8.6 billion on October 2nd, before retracing to its current $6.8 billion. This surge in trading volume among memecoins underscores the intense demand-side pressure witnessed within the sector over the past month.
src="/uploads/20241009/17284230076705a45f4d442.png">
Supporting this observation, data from Dune indicates that memecoin weekly transaction flows across various blockchains, including Ethereum, Solana, and Tron, have collectively increased by 161.7%. During the first week of September, the flows reached approximately $110.5 million, while by the week ending October 4th, they had soared to $289.2 million.
src="/uploads/20241009/17284230076705a45f4d442.png">
Disclaimer: This article does not constitute investment advice or recommendations. Cryptocurrency trading involves risks, and investors should conduct thorough research before making any decisions.
Recent news
More>- 6 Best Cheap Crypto to Buy Now Under 1 Dollar November 25 – Arbitrum, Mina, Chiliz, Theta Fuel 11-26
- Pepe and Shiba Inu Face Strong Bearish Pressure: Is the Memecoin Market Losing Momentum? 11-26
- Meme coin prices dip; traders move to $40M Pepe Unchained ICO for massive potential gains 11-26
- Whale Moves 308B BONK Tokens to Coinbase Before Big Burn Event 11-26
- Why BTFD Coin, Pepe Coin, and Bonk Coin Are Top Meme Coins 11-26
- Missed the Pepe Coin Frenzy? This New Best Meme Coin is Here to Realise Your Dreams 11-26
- From Underdog to Top Dog: This Solana-Based Token Could Outperform Pepe by 100x This Year! 11-26
- Top 5 Crypto That Have Surpassed Their ATH In Recent Days! 11-26
- Best Wallet Soars Past $1M In Private Sale As Public Presale Starts Today For Web3 Wallet Built For 2024 Bull Run 11-26
Selected Topics
More>>-
- pepecoin Price Analysis
- This topic provides articles related to PepeCoin price, covering key PepeCoin insights and analysis
-
- pepe:meme star
- This topic provides articles related to the most promising meme, PEPECOIN, a project with the potential to become a mainstream digital currency. It has the advantages of decentralization, reliability, ease of use, fast speed, low cost and scalability, and is expected to be more widely used in the future
-
- pepecoin price prediction
- We’ve gathered facts about pepecoin’s success story and provided a pepecoin price prediction
Selected Articles
More>>- 1 Avalanche and Aptos rival raises over $600k in 2 weeks
- 2 Crypto Prices Today: Market Continues Rally With BTC, Pepe Coin, SEI Rising
- 3 Major Analyst Crypto Tony Bullish on These Meme Coins, But One Stands Out
- 4 MTAUR Ready to Crush DOGE and PEPE: 100x Price Growth Incoming?
- 5 Memecoins Surge in 2024, Popcat Leads with 7,621% YTD Gain, Outshining Top Crypto Tokens
- 6 PEPE Meme Coin Smashes ATH – See How Much an $83 Investment in Pepe Coin Last Year is Worth Now
- 7 Top 4 Altcoins At 70% Discounts – Last Chance!
- 8 Dogecoin Creator Proposes DOGE to NBA Legend Scottie Pippen
- 9 Top Analyst Who Predicted Dogecoin (DOGE) Last 170x Rally Forecasts New Parabolic Rise, Here’s His Price Target
- 10 New Solana Memecoin Trump Loves Elon to Rally 15,000% Before Exchange Listing, SHIB and Bonk Crash
ABOUT US
We are building the most influential，trusted information platform for aglobal community engaged in thd transformation of the financial system andthe emerging crypto economy.PEPE is an integrated platform for media,events,data & indices for the next generation fo investing and the future of money.
Get in touch with the PEPE team at admin@pepecoinbuy.com