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Major meme cryptocurrencies have experienced substantial gains over the past 24 hours, according to CoinGecko data.
Mog Coin (MOG) and Floki Inu (FLOKI) have added 33.8% and 23%, respectively, becoming the best-performing meme coins with a market cap over
Dogecoin (DOGE) and Shiba Inu (SHIB) are also in the green, adding 1.5% and 4.5% (respectively) over the past 24 hours. Last week, the two meme coins recorded notable price increases after Tesla CEO Elon Musk paid tribute to the late Shiba Inu Kabosu who inspired the Doge meme.
Pepe (PEPE) has added almost 6%, with its market cap surpassing $7 billion. It is now just one spot away from joining the elite club of the 20 largest tokens by market capitalization.
Solana-based meme coins dogwifhat (WIF) and Bonk (BONK) have both surged by nearly 10%.
A growing force
After Dogecoin exploded in popularity in 2021 due to Musk's tweets, many assumed that the meme coin would end up being a fad. However, it has managed to retain its place within the top 10.
Moreover, the meme coin sector continued to grow at a rapid pace, and several other rivals are now vying for Dogecoin's throne.
As reported by U.Today, analyst Murad Mahmudov recently predicted that Pepe could end up surpassing both Shiba Inu (SHIB) and Dogecoin (DOGE) by market capitalization.
Meanwhile, VanEck's MarketVector recently launched a new index that includes the most popular meme coins such as PEPE and WIF.