The meme coin market has seen tremendous growth recently, rising more than 13% in the last day. The meme token economy has grown by $3.77 billion over the past four days, with double-digit increases being made by tokens like pepe (PEPE) and corgiai (CORGIAI).
The Meme Coin Market Expands
As of February 23, 2024, the meme coin market was valued at $22.26 billion. In just three days, it rose to a new high of $26.04 billion, an increase of $3.77 billion. $4.13 billion worth of meme tokens were traded globally throughout the last 24 hours. The second-most popular meme asset, shiba inu (SHIB), witnessed a spike of 8.7% against the US dollar on Tuesday, while Dogecoin (DOGE) saw an increase of 11.6% over the previous day.
PEPE/USDT on Feb. 27, 2024.
With a 16.8% gain, Bonk (BONK) surpassed both DOGE and SHIB. Among the top five, Pepe (PEPE) led the way with a 35.5% gain versus the US dollar. PEPE’s value has surged by 71.1% relative to the US dollar in the last week. On the other hand, CORGIAI increased by 29.4% during the course of the week, even if it decreased by 2.3% in the previous day. Dogwifhat (WIF) increased 45.3% just on Tuesday, bringing its weekly increase to 49.3%.
Notable gains were seen in the prices of FLOKI, MEME, TRUMP, and BABYDOGE, among other meme coins. Conversely, the values of SOLAMA, PORK, MINU, and HIPP decreased by 6.4% to 11.2%. According to the most recent data, SHIB accounts for 23.73% of the $26.04 billion market value, whilst DOGE holds a 52.57% market share in meme coins. Conversely, DOGE and SHIB account for 0.9247% of the $2.15 trillion cryptocurrency market.
How do you feel about the $3.77 billion growth in the meme coin economy in the last four days? Please feel free to express your ideas and opinions in the space provided for comments below.