The trading volume of meme coins has dropped by around 8.6%, resulting in about $5.2 billion worth of transactions over the last day. With a total market value of around $53.5 billion, these coins make up nearly 2.2% of the entire cryptocurrency market. Gaining popularity among both hobbyists and investors, meme coins have seen significant growth due to their connection to amusing or lighthearted themes. This article aims to discuss the current surge in popularity for various memecoins by examining their recent market statistics.
1. Pepe Coin (PEPE)
Pepe Coin, derived from a well-known frog meme, remains influential in the cryptocurrency sphere. Despite setbacks following a market downturn and the completion of Bitcoin‘s halving, this token has bounced back impressively. Currently, it outperforms other popular meme tokens.
In the last 24 hours, PEPE has seen a significant jump of around 6.88%, which amounts to $0.000006843 per token. This impressive growth trend has continued for a week now, resulting in a total rise of 35.48%. Over the past month, PEPE has experienced a growth of 7.79%. Currently, PEPE holds the largest share of the meme coin market with a trading volume of $1.01 billion and a market capitalization of over $2.88 billion.
The prospect of Coinbase adding Pepe to its platform and surmounting significant resistance points is fueling buzz about its potential future growth. The allure of meme coins, as evidenced by Pepe’s story, remains strong within the crypto community.
2. Mumu the Bull (MUMU)
Mumu the Bull is a fresh addition to the Solana cryptocurrency scene, known for its mission to unite all crypto enthusiasts. Currently priced at $0.00001013, MUMU has recently experienced a significant 11.02% surge in just one day, reflecting optimistic investor attitudes. Over the past week, this meme coin has seen a substantial rise of 32.26%. Its growth rate over the last 30 days is 9.06%. Gaining traction in the meme coin market, MUMU boasts a trading volume of $3,991,548 and a market cap of $23,596,752.
3. GUMMY
Newcomer GUMMY in the meme coin sector has piqued traders’ curiosity with its amusing concept and promising market performance. The Solana-based 420 Weed Gummy Bear, currently worth $0.1644, has experienced a minor daily increase of 1.47%. However, its impressive gains are evident as it skyrocketed by 61.53% since debuting. With a trading volume of $78,632,159 and market cap of $187,395,918, GUMMY is swiftly gaining popularity and asserting its place as a strong competitor within the meme coin scene.
4. Memecoin (MEME)
MEME token, the local currency of Memeland, has shown resilience and continuous advancement in the meme coin sector. The current price is at $0.02958, representing a 1.22% price hike in the last day. The previous week and month have also seen impressive gains, with jumps of 12.80% and 20.83% respectively. Meme Coin continues to make a substantial impact in the meme coin marketplace, boasting a trading volume of $39,614,855 and a market value of $353,907,034.
Conclusion
In today’s cryptocurrency market, meme coins are making a significant mark with their upward trend. These digital assets offer investors new possibilities for portfolio diversification and speculative trading, leading to potential profits. Notable examples include PEPE, MUMU, GUMMY, and other meme tokens that have gained popularity due to their unique themes and market success. However, investors are advised to conduct thorough research before investing in these coins, as with any investment, risks are involved. The ever-evolving nature of the cryptocurrency market suggests that meme coins will continue to be an intriguing part of this dynamic landscape.
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2024-04-23 16:08