Memecoins
Pepe, dogwifhat and Floki explode amid red-hot memecoin rally — Dogecoin and Shiba Inu also surge – Emeren Group (NYSE:SOL)
The injection of positive volatility sent memecoins surging on Monday, with the sector’s coins emerging as the biggest gainers in the cryptocurrency market.
What happened: Frog theme Grandpa was the best performing cryptocurrency in the last 24 hours, with gains of over 25%. Its trading volume jumped 90% to $1.5 billion, making it the most traded memecoin in the last 24 hours.
Solana Based on SOL/USD dog hat was the second biggest winner of the day, followed by Ethereum Based on ETH/USD Floki. Both dog-themed coins saw healthy increases in 24-hour trading volumes.
| Cryptocurrency | Gains +/- | Price (recorded at 11:00 p.m. EDT) |
| Grandpa PEPE/USD | +25.01% | $0.00001221 |
| dog hat WIF/USD | +22.50% | $2.18 |
| Floki (FLOKI) | +22.19% | $0.0001881 |
Additionally, the market’s top memecoins also saw significant spikes. Shiba Inu SHIB/USD jumped more than 10% to $0.00001988, while the pioneer Dogecoin DOGE/USD climbed 7% to $0.1261.
See also: Floki’s 20% Gains Outpace Dogecoin and Shiba Inu, Could ‘Rise Sharply in Coming Months,’ Trader Predicts
Why is this important: The memecoin bull run comes amid a pPositive Moment in the Cryptocurrency Market following failed assassination attempt on pro-cryptocurrency presidential candidate Donald Trump.
In addition, Federal Reserve Chairman’s Accommodative Comments Jerome Powell helped accelerate investments in this category of highly speculative and risky financial instruments.
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