Meme cryptocurrencies are surging on 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), almost reached double-digit gains.
PEPE, SHIB, FLOKI outperfom top 100 benchmark
Today, on May 13, 2024, out of all of top 100 cryptocurrencies by market capitalization, the largest meme coins demonstrate the best 24-hour performance. Pepe (PEPE) is the undisputed leader with almost 10% growth.
Floki (FLOKI), another popular dog-themed cryptocurrency, demostrates a similar growth rate, while Shiba Inu (SHIB) managed to add 7.4% overnight.
Dogecoin (DOGE), the largest meme crypto by capitalization and the only "dog coin" in the top 10 biggest cryptocurrencies, has surged by 5.6%. Its capitalization exceeded $21 billion.
The upsurges of Bonk (BONK) and Dogwifhat (WIF) should also be mentioned: the coins surged by 6.7% and 3.6%, respectively.
Vladislav SopovBy contrast, as covered by U.Today previously, during the weekend, all large meme coins underperformed compared to the market's benchmark.
Meme coin-related segments are trending
To provide context, the crypto market as a whole added only 1.7% overnight, while Bitcoin (BTC), the largest cryptocurrency, jumped by 2.7%.
In terms of the altcoin segment, spheres associated with meme coins demonstrated notable growth rates in 24 hours.
Only surpassed by AI cryptocurrencies, cat-themed coins added 14.5% in 24 hours. The spike is driven by local rallies of POPCAT, MOG and minor cat coins.
Meme coins and dog-themed coins are the foutth and fifth fastest growing segments, CoinGecko data shows.
Tomiwabold Olajide
Gamza Khanzadaev
Alex Dovbnya
