Beyond SHIB, DOGE: Meme Coin Recovery Brings Unexpected Result

As meme coins are yet again outperforming cryptocurrency market benchmarks, Mog Coin (MOG), a cat-themed meme crypto on Ethereum (ETH) and Base (BASE), joins the elite club of the 100 largest digital assets. It struggles to exceed the market cap of Neo (NEO), a 10-year old cryptocurrency.

New SHIB competitor MOG jumps into top 100, close to surpassing NEO, XTZ, STRK

Mog Coin (MOG), a cat-themed meme coin on EVM, registered a 15.6% price upsurge today, July 15, 2024. Its capitalization exceeded $755 million in equivalent, which allowed MOG to becomes the 100th biggest crypto by market cap.

Three hours ago, at about 9:00 a.m. (UTC), Mog Coin (MOG) reached an all-time high over $0.000002184 per coin. In total, the MOG price added 147.8% in the last 30 days.

With these gains scored, MOG coin is competing with veteran cryptocurrencies Neo (NEO) and Tezos (XTZ), as well as with Starknet (STRK), a new-gen EVM-equivalent L2. 

Mog Coin (MOG) is introduced by developers as the "first Internet culture coin" with zero intrinsic value. It was issued on the Ethereum (ETH) and Base (BASE) blockchains.

Another major cat-themed meme coin, Popcat (POPCAT), witnessed a 24% price spike and has become the 109th largest cryptocurrency. It has already surpassed "Chinese Polygon" Coinflux (CFX) and is ready to replace Gnosis (GNO), one of the most popular ICO era coins.

Meme coins yet again leading recovery

As such, the segment of cat-themed meme coins is the fastest-growing one today. This group added 26% overnight, while Solana-based meme cryptos are up by 11%.

The meme coin sphere as a whole is surging twice as fast as the crypto market. While the net cap of digital assets added 3.7%, meme coins spiked by 6.6%.

Meanwhile, all of the largest meme cryptos - Dogecoin (DOGE), Shiba Inu (SHIB), Bonk (BONK), Dogwifhat (WIF), Book of Meme (BOME) - are only up by 3-5%. Largely, the rally should be attributed to small-caps.