Meme Coins DOGE, PEPE, PNUT Fuel Speculative Crypto Cycle: Santiment

Meme coins have seen explosive growth over the past month, even as the broader crypto market reaches new highs. Data from Santiment shows a surge in popularity for these speculative tokens, often based on themes like dogs or cats.

Santiment highlighted on X (formerly Twitter) that speculative assets are driving the current rally, with meme coins trending significantly. Based on social media discussion rates, leading meme coins like Peanut the Squirrel (PNUT), Pepe (PEPE), Dogecoin (DOGE), Memecoin (MEME), Peanut (NUX), and 8-Bit Coin (COIN) are among the most popular in the meme category of tokens.

Interestingly, Bitcoin (BTC) ranks seventh in terms of social media chatter, suggesting a significant flow of capital into the meme coin sector. This sector’s market cap has soared to $119 billion, though it did experience a 4.5% dip in the last 24 hours, according to CoinGecko. Trading volume in the meme coin sector reached $58.9 billion.

Dogecoin currently leads the meme coin pack, ranking sixth otherwise in the crypto market. Its market cap is $52.50 billion, with a price of $0.3574. DOGE is down 7.9% in the last 24 hours and a substantial 50.87% from its all-time high of $0.7376.

Meme Coin Performance Highlights

PNUT has shown incredible growth, surging by 1626.4% in the past week. It currently trades at $1.69 with a market cap of $1.68 billion. However, PNUT also experienced a 17.3% drop in the last 24 hours, though it’s still up an astounding 2925.65% over the past month.

Read also: Meme Coins on Coinbase and Robinhood: Which Projects Could Be Listed Next?

PEPE has also performed well, rising 95.77% in the last 30 days. MEME increased by 16.56% in the past week. PEPE currently trades at $0.00001962, while MEME is priced at $0.01267.

Additionally, NUX is up 118.27% in the last 30 days and 10.30% in the last 24 hours. COIN has jumped 42.71% in the past week.