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In recent times, the meme coin sector has experienced a significant increase, climbing over 13% in the past 24 hours. In the span of the last four days, the meme token economy has expanded by $3.77 billion, with tokens such as pepe (PEPE) and corgiai (CORGIAI) achieving gains in the double digits.
Meme Coin Market Swells
On Feb. 23, 2024, the value of the meme coin market stood at an $22.26 billion. Just three days later, it increased by $3.77 billion, reaching a new height of $26.04 billion. In the most recent 24-hour period, meme tokens have seen a global trading volume of $4.13 billion. Dogecoin (DOGE) enjoyed an 11.6% increase over the last day, while the second-leading meme asset shiba inu (SHIB) saw an 8.7% rise against the U.S. dollar on Tuesday.
Bonk (BONK) outperformed both DOGE and SHIB, ascending by 16.8%, with pepe (PEPE) leading the charge among the top five, boasting a 35.5% increase against the greenback. Over the past week, PEPE’s value has skyrocketed by 71.1% compared to the U.S. dollar. In contrast, CORGIAI appreciated by 29.4% over the week, despite a slight 2.3% decrease in the last 24 hours. Dogwifhat (WIF) surged by 45.3% on Tuesday alone, marking a 49.3% uptick over the past seven days.
Other meme coins that experienced notable increases include FLOKI, MEME, TRUMP, and BABYDOGE. On the flip side, SOLAMA, PORK, MINU, and HIPP saw their values decline by 6.4% to 11.2%. The latest data reveals that DOGE commands 52.57% of the meme coin market share, while SHIB represents 23.73% of the market’s $26.04 billion value. On the other hand, both DOGE and SHIB represent 0.9247% of the entire $2.15 trillion crypto economy.
What do you think about the meme coin economy swelling by $3.77 billion over the past four days? Share your thoughts and opinions about this subject in the comments section below.