Meme Coins Outperforming Bitcoin This Week

There has been a 7.2% decrease in the global market cap of the cryptocurrency market in the last 24 hours. The value of Ethereum dropped by 6.65% and is currently being traded below $4000. Popular meme cryptocurrencies such as Dogecoin, and Shiba Inu (SHIB) have also witnessed substantial declines in their values. Bitcoin price is crashing too, decreasing by 8.61% after hitting an all-time high of $73,750.07. The current price of BTC is $67,078.37, showing a drop of 7.18% in the last day and a 0.52% decrease over the past week. During this time, certain meme coins have been gaining popularity today with significant growth throughout the week, surpassing Bitcoin. Let’s delve into the performance of these meme tokens that have stolen the spotlight.

1. Book of Meme (BOME)

Price: $0.003959

Market Cap: $378,660,789

Over the past twenty-four hours, Book Of Meme has emerged as a high flyer, with the price shooting to an incredible 502.41% and holding that position for a whole week. This boom has led it to be worth $378.6 million in market capitalization while its trading volume stands at $924.5 million over 24 hours.

BOME is a new token that was launched on March 14, 2024. BOOK OF MEME is a project with an aim of merging memes, decentralized storage, and crypto trading to capture evolving meme culture in a digital compendium on the blockchain. Using $BOME on Solana, Arweave, IPFS, and Bitcoin, it aims to revolutionize decentralized social media.

2. Dogwifhat (WIF)

Price: $2.78

Market Cap: $2.77 billion

Although having decreased in value by 13% over the past 24 hours, Dogwifhat has recorded a notable growth rate of 27.70% this week alone. Such metrics demonstrate that Dogwifhat remains an attractive opportunity with its market cap of $2.77 billion and trading volume $1,211,029,685 in the previous one-day period.

3. Solama (SOLAMA)

Price: $0.07251

Market Cap: $47 million

Solama has experienced growth of  9.33% over the week. Despite its relatively lower market capitalization of $47 million, Solama has seen a considerable trading volume of $22.1 million within the last 24 hours

Solama meme coin, the fun Solana mascot, is a meme coin on the SOLANA blockchain inspired by Solana’s success. With a lama-themed persona, SOLAMA adds humor and whimsy to the crypto world, aiming to stand out among meme coins.

4. Floki (FLOKI)

Price: $0.0002473

Market Cap: $2.36 billion

Floki Inu (FLOKI) price experienced a notable surge of 29.1% over the week. Consequently, its market capitalization rose to $2.36 billion, with a 24-hour trading volume of nearly $1.07 billion

FLOKI functions as the primary utility token powering the Floki Ecosystem, which was initiated by members of the Shiba Inu community and takes cues from Elon Musk’s Shiba Inu, Floki

5. Coq Inu (COQ)

Price: $0.000004761

Market Cap: $330.9 million

In the last 24 hours, Coq Inu has seen a considerable rise in its price with it increasing by 15.70% and a mild growth of 17.17% over the week. Coq Inu is currently getting attention from investors with a market capitalization of $330 million and trading volume for the past twenty-four hours to be $57 million.

6. Pepe (PEPE):

Price: $0.000008822

Market Cap: $3.7billion

Pepe’s value experienced an increase of 12.98% in the course of the week, dominating the chart of t trending cryptocurrencies. This increase indicates that Pepe has cemented its position among other meme coins, as shown by its market capitalization exceeding $3.7 billion, positioning itself as 37th according to CoinMarketCap.  and trade volumes at almost $2.4 billion. Pepe Coin rich demonstrates the popularity of the token among investors

7. Baby Coin (BabyDoge)

Price: $0.0…02859

Market Cap: $374 million

Baby Coin  has been trending demonstrating an increase of 2.39% over the week. Despite having a low market cap of around $374 million, Baby Coin recorded a trading volume of $21.2 million during the last day, and ranked 192nd  in the market. 

Conclusion

While the broader cryptocurrency market may be experiencing turbulence, meme coins have proven to be a beacon of stability and opportunity for investors. With notable tokens like Book of Meme, Dogwifhat, Solama, Floki, Coq Inu, Pepe, and Baby Coin demonstrating remarkable growth and resilience in the week, the meme coin sector continues to captivate investors’ attention, offering unique avenues for speculation. These insights highlight the dynamic nature of the meme currency market, with each currency experiencing unique ups and downs. Investors should investigate thoroughly and conduct thorough research before making an investment decision.