As a seasoned analyst with over two decades of experience in the financial markets, I have witnessed countless trends and fads come and go. However, the meme coin segment of the cryptocurrency market continues to captivate my attention due to its unique blend of humor, speculation, and sheer volatility.
Meme-based cryptocurrencies are once more leading the pack over mainstream cryptos, even though some big dog and cat tokens are depreciating. Crypto enthusiasts who favor meme coins are closely watching Arthur Hayes for these reasons.
PEPE and BONK up, WIF and POPCAT down
Today, Pepe (PEPE), the leading frog-themed coin, and Bonk (BONK) from Solana are shining as the top performing meme coins. According to CoinGecko’s data, they’ve both seen impressive gains of 6.6% and 6.7%, respectively. Remarkably, these two coins are among the top 10 performers in the list of the 100 largest cryptocurrencies by market capitalization.
In the past 24 hours, Shiba Inu (SHIB) has increased by 2.3%, while Floki Inu (FLOKI) saw an increase of 1.3%. Interestingly, the overall market benchmark is experiencing a drop of 1.3% today, with Bitcoin (BTC) showing minimal growth of just 0.3%.
Contrarily to certain other meme tokens, it’s worth noting that some are experiencing a decline. Among the top 100, Popcat (POPCAT), the leading cat-themed coin, has taken the hardest hit, losing approximately 7.4% of its value over the past day.
Overnight, Brett (BRETT) decreased by 3.7%, whereas Dogwifhat (WIF) shed approximately 1.9% of its market value and is on the verge of exiting the top 50 cryptocurrencies.
Dogecoin (DOGE), the largest meme coin, is 0.2% up.
Crypto legend Arthur Hayes discovers low-cap meme coins, triggers 50% pumps
Currently, BitMEX founder Arthur Hayes is humorously delving into the realm of lesser-known meme tokens.
He revealed that he was keen on acquiring assets associated with Iggy Azalea, such as MOTHER, MOG Coin, Smoking Chicken Fish, and Ponke.
In just a flash, the smallest cryptocurrency known as Smoking Chicken Fish (SCF) surged dramatically by an impressive 51%, climbing from $0.04 to well above $0.06.
Today, Sept. 28, 2024, the SCF token reached its multi-week high triggered by Hayes’ tweets.
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2024-09-28 15:17