Bitcoin surpassed $70,000 on Wednesday, triggering gains across leading meme coins in the last 24 hours. Shiba Inu (SHIB) rose by 7.7%, while Dogecoin (DOGE) increased by 2.1%.
Among the top five meme coins, Floki (FLOKI) recorded a significant 21.2% surge. However, BODEN emerged as the biggest gainer of the day, skyrocketing by 46%.
Meme Coin Market Sees 4.6% Increase
The meme coin market has shown a 4.6% rise against the U.S. dollar, reaching an estimated total of $68.78 billion in valuation. Among the top five meme coins by market capitalization, four experienced gains, with Floki (FLOKI) leading with a substantial 21.2% increase. However, Pepe (PEPE) was the only one to decline, dropping by 0.8%.
Key Gainers
Dogecoin (DOGE) saw a 2.1% increase, while Shiba Inu (SHIB) climbed by 7.7% and WIF grew by 4.1%. The standout performer of the day was Jeo Boden (BODEN), the presidential meme token, which surged by 46.4%. Additionally, Non Playable Coin (NPC) rose by 35.7%, Wojak (WOJAK) increased by 32.3%, and several other meme coins such as PENG, TYBG, TREMP, and MEOW also posted double-digit gains.
Meme Coin Market Shows Mixed Performance
Several meme coins faced significant declines on Wednesday amidst mixed performance across the market. OPTI experienced a notable drop of 23.7%, while OMIKAMI fell by 19.3%. GME decreased by 18.7%, and STRUMP declined by 17.9%. Most meme tokens associated with the GameStop, Roaring Kitty, and Wall Street Bets trend recorded losses over the 24-hour period.
Despite the fluctuations, meme coins have shown strong performance this year. The current market cap of $68.78 billion represents approximately 2.48% of the entire cryptocurrency economy, which totals $2.77 trillion.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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