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As bitcoin edges closer to its peak historical value, the meme token domain is outperforming many within the crypto economy, boasting a more than 38% increase over the last day. Just four days prior, the meme coin market’s valuation stood at $34.32 billion, only to soar to $61.59 billion today.
From Dogecoin to Shiba Inu: Meme Tokens Dominate Monday’s Market Gains
Meme tokens have emerged as the frontrunners this Monday, with BTC nearly touching its all-time high from November 2021. The meme coin realm has experienced a 38% upswing, with the leading five contenders achieving substantial gains in a 24-hour span. Dogecoin (DOGE), the heftiest meme coin by market capitalization, witnessed a 26.6% climb on Monday, reaching $0.178 each. Throughout the preceding week, DOGE has climbed an impressive 105.2% against the U.S. dollar.
The runner-up in the meme coin category is shiba inu (SHIB), which surged 58.7% in the last day and an astounding 250.5% over the week. Pepe (PEPE) enjoyed a 38.8% increase on Monday and, over the week, has soared by 409.6%. Bonk (BONK) experienced a 72.8% jump during the 24-hour span, with a weekly increase of 260.0%. Floki (FLOKI) recorded the least daily growth on Monday at 10.4%, yet it has ascended by 343.9% over the week.
Dogwifhat (WIF) encountered a decline today, falling 6% against the U.S. dollar, although WIF has surged 295.7% this week. Numerous meme coin assets have recorded triple-digit increases over the last seven days, marking the group as the top-performing crypto sector of the week in terms of overall gains. In the past 24 hours alone, meme coin assets have seen $23,250,993,232 in global trading volume, which continues to escalate.
Meme coins recorded substantial gains in 2021, and the trend persists in 2024. The future of these whimsical crypto assets remains uncertain, but their impact on the crypto economy is undeniable, with dogecoin (DOGE) still paving the way. Currently, DOGE represents 41.84% of the $61.59 billion market, boasting a market cap of $25.77 billion.
What do you think about the latest meme token economy jump on Monday? Share your thoughts and opinions about this subject in the comments section below.