Memecoins
Ethereum-based meme coins surge up to 161%, fueled by ETF speculation
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The possibility of a one-time approval of the Ethereum ETF this week has sparked a price rally among meme coins based on the Ethereum virtual machine, according to data aggregator DefiLlama. HarryPotterObamaSonic10Inu (BITCOIN) and Mog Coin (MOG) jumped 46.8% and 51.7%, respectively.
Wojak and Hemule saw an even more significant rise, increasing by 66.3% and 89% during the same period. Other Ethereum-based meme coins with double-digit gains are Milady Meme Coin (LADYS), Welsh Corgi Coin (WELSH), and lmeow (LMEOW), with growth of 40.8%, 23.5%, and 56%, respectively. 5%.
Pepecoin (PEPE), which is now the third largest coin by market capitalization, surged 32% in the last 24 hours.
Notably, meme coins in the Base ecosystem saw triple-digit gains, such as Base Pro Shops (BPS) and its 161% daily jump. United Base Postal (UBPS) is also one of the booming base coins, soaring 102% over the same period.
Dog Ski Mask (SKI), in addition to its 111% gain, also surpassed $1.6 million in trading volume since May 20. Normie (NORMIE), one of Base’s “jewels”, attracted even more investor interest with its trading volume of over $9 million. , which resulted in an increase of 73.6%.
Briun Armstrung (BRIUN), which is the misspelled name of Coinbase founder Brian Armstrong, also made significant progress with a 55.2% rise.
Recent price surges seen by meme coins have caused the total market capitalization of this crypto sector to surpass $62 billion, surpassing crypto categories such as liquid staking tokens, DePIN, and decentralized exchange tokens , as well as investment portfolios of funds such as DragonFly Capital, Coinbase. Ventures and Binance Labs.
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