Memecoins
Bonk Memecoin Star of the Day Surges Nearly 20% — Pepe and Floki Post Impressive Gains Leave Dogecoin and Shiba Inu Laggards – Emeren Group (NYSE:SOL)
Memecoins rebounded with a strong surge on Monday, with popular tokens like Bonk And Grandpa among the best performers on the market.
What happened: Solana The dog cryptocurrency Bonk, based on the SOL/USD pair, has become the biggest gainer in the last 24 hours. The trading volume of the meme token has jumped by 139% to $477 million, implying increased demand from retailers.
The frog-themed Pepe was the second best performer, with holders gaining more than 15% in the last 24 hours. Ethereum The ETH/USD-based token’s volume increased 63% to $1.15 billion, the highest among memecoins.
| Cryptocurrency | Gains +/- | Price (recorded at 10:20 p.m. EDT) |
| Bonk BONK/USD | +19.43% | $0.0000242 |
| Grandpa PEPE/USD | +15.20% | $0.000009133 |
| Floki FLOKI/USD | +9.31% | $0.0001435 |
Established players like Dogecoin DOGE/USD and Shiba Inu SHIB/USD also saw healthy gains of 4.30% and 3.78%, respectively.
The total market capitalization of memecoin reached $40.84 billion, an increase of 6.16% in the last 24 hours.
See also: Spot Ethereum ETFs Could Launch in a Week or Two, ETF Analyst Nate Geraci Says: “How Fast Will the SEC Relaunch Them?”
Why is this important: The memecoin rally comes as market heavyweights like Bitcoin BTC/USD showed signs of recovery.
Meme tokens have been among the fastest moving this year as the market shows signs of recovery. In fact, this category of cryptocurrencies was the most important wealth multiplier for investors in the first half of 2024.
Image via Shutterstock
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