NewsletterTop Memecoins Outpacing The Market Today
The crypto market regained momentum with top assets and memecoins soaring after periods of liquidations sparked by macroeconomic factors. Memecoins have market significant activity in the last 24 hours with several assets outpacing the wider cryptocurrency market.
The memecoin frenzy which saw several assets rally to new highs might be over but some tokens have spiked as fresh inflows enter the market. The memecoin market cap stands at $65.5 billion with a $6 billion trading volume. While top memecoin posted modest gains, some tokens surged over 100% today.
Memecoins Soar 100X
Let’s Go Brandon (LETSGO) spiked 136% in the last 24 hours with its community projecting gains across social media spaces. The asset has gained 307% this week and 381% in the last 30 days. While the market faced slight corrections, gains notched by the meme coins maintain its strong position in the market.
Choppy (CHOPPY) is up 133% today and also maintains strong highs in the green zone. The assets surge in recent times comes after monthly losses wiped off previous gains. CHOPPY has soared 180% this week and 103% in the last weeks.
However, the memecoin posted monthly outflows of 54% before making its present rebound. Meowcat also rallied in the last 24 hours with gains hitting 103%. Meowcat recorded 202% gains this week. Popular Solana memecoins have also surged in the same time frame boosting the entire ecosystem as bulls increase their exposure.
Top Memecoins Rebound
Dogecoin (DOGE) and Shiba Inu marked 6.2% and 3.2% gains respectively to see weekly flows flip green. Similar gains were seen in Dogwifhat, Pepe, and Floki with 7.6%, 3.5%, and 3.8% respectively.
The memecoin market rallied as several investors bought the dip following periods of liquidations. The CPI data which places United States inflation at 3.5% triggered traders to remove funds from risky assets. However, grounds were quickly revived in anticipation of a future price growth with eyes locked on the upcoming halving.
Also Read: Impact of Hostile Regulations on Bitcoin (BTC) Price
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