After being affected by macroeconomic issues, the crypto market saw a revival as leading assets and meme coins experienced notable gains. In the previous timeframe, these assets underwent liquidations. Memecoins have been particularly active lately, with several of them surpassing the broader cryptocurrency market’s growth in the last 24 hours.
The excitement surrounding memecoins, which caused several assets to reach new peaks, may have passed, but some tokens are seeing a surge as fresh funds flow into the market. The total value of memecoins is currently $65.5 billion with a daily trading volume of $6 billion. While the leading memecoins experienced only modest growth, some lesser-known tokens soared by over 100% today.
Memecoins Soar 100X
In the past day, there’s been a significant surge of 136% for Let’s Go Brandon (LETSGO) within its community, as they predict continued growth across various social media platforms. This week, the asset has seen an impressive increase of 307%. Over the last month, that figure jumps to an astounding gain of 381%. Despite some minor market corrections, LETSGO’s gains have kept it a strong contender within the market.
Choppy’s value has experienced a significant increase of 133% today, while continuing to remain high in the positive zone. This recent surge follows monthly setbacks that erased earlier progress. Over the past week, Choppy has seen a remarkable rise of 180%, and over the last few weeks, its value has gone up by 103%.
Despite experiencing a significant outflow of 54% every month earlier, Meowcat experienced a rebound and saw impressive growth in the last 24 hours with a surge of 103%. This week alone, Meowcat’s value increased by an astounding 202%. The popularity of memecoins on the Solana network has also risen, leading to a boost for the entire ecosystem as investors continue to increase their involvement.
Top Memecoins Rebound
Dogecoin (DOGE) and Shiba Inu experienced increases of 6.2% and 3.2% respectively over the past week, leading to positive inflows for both coins. Comparable growth was observed in Dogewifhat, Pepe, and Floki with gains of 7.6%, 3.5%, and 3.8% respectively.
The market for meme coins saw a surge as some investors seized the opportunity to buy at lower prices during periods of liquidations. However, the release of CPI data showing US inflation at 3.5% led traders to withdraw funds from riskier assets. Yet, optimism returned swiftly as investors looked forward to future price increases and focused on the upcoming halving event.
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2024-04-12 08:21