Meme cryptocurrencies are surging on the back of increased trading volume, while digital assets are recovering from a choppy weekend. Pepe (PEPE), one of the most popular meme coins on Ethereum (ETH) and Arbitrum (ARB), nearly reached double-digit gains.
Meme cryptocurrencies are surging on the back of increased trading volume, while digital assets are recovering from a choppy weekend. Pepe (PEPE), one of the most popular meme coins on Ethereum (ETH) and Arbitrum (ARB), nearly reached double-digit gains.
PEPE, SHIB and FLOKI surpass the top 100 benchmark index
Today, May 13, 2024, of the top 100 cryptocurrencies by market capitalization, the largest meme coins demonstrate the best performance within 24 hours. Pepe (PEPE) is the undisputed leader with almost 10% growth.
Floki (FLOKI), another popular dog-themed cryptocurrency, demonstrates a similar growth rate, while Shiba Inu (SHIB) managed to add 7.4% overnight.
Dogecoin (DOGE), the largest meme cryptocurrency by capitalization and the only “dog coin” among the top 10 cryptocurrencies, is up 5.6%. Its capitalization exceeded 21 billion dollars.
Also worth mentioning are the surges of Bonk (BONK) and Dogwifhat (WIF): the coins rose by 6.7% and 3.6%, respectively.
In contrast, as Guru-Investingpreviously reported, over the weekend, all major meme coins underperformed the market benchmark index.
Segments related to Meme coins are trending
For context, the cryptocurrency market as a whole added just 1.7% overnight, while Bitcoin (BTC), the largest cryptocurrency, jumped 2.7%.
In terms of the altcoin segment, spheres associated with meme coins demonstrated notable growth rates within 24 hours.
Second only to AI cryptocurrencies, cat-themed coins added 14.5% in 24 hours. The rise is driven by local rallies of POPCAT, MOG and minor cat coins.
Meme coins and dog-themed coins are the fourth and fifth fastest growing segments, CoinGecko data shows.
