As an experienced analyst, I’ve been closely monitoring the cryptocurrency market for years. Based on my observations, today’s surge in meme coins such as Pepe (PEPE), Floki (FLOKI), and Shiba Inu (SHIB) is quite intriguing. These coins have outperformed the top 100 benchmark with gains of up to 10% for PEPE, and impressive growth rates for FLOKI and SHIB as well.
Meme cryptocurrencies like Pepe (PEPE) are experiencing a surge due to heightened trading activity, while other digital assets are bouncing back from a turbulent weekend. On Ethereum (ETH) and Arbitrum (ARB), the popularity of meme coins such as PEPE almost hit double-digit percentage gains.
PEPE, SHIB, FLOKI outperfom top 100 benchmark
On May 13, 2024, among the top 100 cryptocurrencies ranked by market capitalization, meme coins present the most impressive 24-hour price increases. Pepe (PEPE) is unquestionably in the lead with approximately a 10% surge.
As a researcher studying the cryptocurrency market, I’ve noticed that Floki (FLOKI), much like the canine-themed counterpart Shiba Inu (SHIB), has shown remarkable growth recently. Specifically, Floki displayed a comparable expansion rate, while Shiba Inu added an impressive 7.4% during the nighttime hours.
As a researcher studying the cryptocurrency market, I can tell you that Dogecoin (DOGE), the leading meme cryptocurrency and the sole “dog coin” among the top 10 largest digital assets, experienced a significant increase of approximately 5.6%. This surge in value resulted in a capitalization exceeding an impressive $21 billion for DOGE.
Mentioning the significant increases in the value of Bonk (BONK) and Dogewhiz (WIF): These coins experienced growths of 6.7% and 3.6%, respectively.
In contrast to previous reports on U.Today, over the weekend, the larger meme coins experienced poorer performance compared to the standard market index.
Meme coin-related segments are trending
As a market analyst, I’d like to note that the overall crypto market experienced a modest growth of 1.7% during the past night. However, the leading cryptocurrency, Bitcoin (BTC), displayed a more significant increase, rising by approximately 2.7%.
The meme coin sector within the altcoin market experienced significant growth in the past 24 hours.
As a financial analyst, I’ve observed some intriguing developments within the cryptocurrency market recently. Surprisingly, cat-themed coins have outperformed even artificial intelligence (AI) tokens with a remarkable 14.5% growth in just the past 24 hours. The catalyst for this surge can be attributed to the local rallies experienced by specific coins like POPCAT and MOG, along with some lesser-known feline-themed cryptocurrencies.
According to CoinGecko’s data, meme coins and dog-themed coins rank fourth and fifth respectively in terms of growth rate.
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2024-05-13 18:31