Memecoins
Shiba Inu leads market gain with 6.4% gain
Several large-cap meme coins, including Shiba Inu (SHIB), Dogecoin (DOGE), and Pepe (PEPE) have recorded increases over the past 24 hours.
Data from cryptocurrency price tracking website CoinGecko watch that the value of the overall meme coin market is up 2.4% to $44.75 billion.
Shiba Inu was one of the main drivers of this improvement, registering a 6.4% increase over 24 hours.
At that time, the price of the meme currency was fluctuating between $0.00001596 and $0.0000171 and currently stands at $0.00001698. This increase was accompanied by a 24-hour trading volume of $217.8 million.
Shiba Inu 24-hour price chart | Source: CoinGecko
The Shiba Inu price is also up almost 7% over the past week, despite having lost 0.8% of its value over the previous fortnight. The news has also been equally bleak over the past 30 days, with the SHIB price falling almost 21% over that period.
Another notable artist among Meme Coins in the last 24 hours it’s Brett (BRETT), up 5.1% at the time of writing.
Ranked 72nd in market cap among all cryptocurrencies and 7th among meme coins, Brett has had a torrid month, losing over 22% of its value.
Interestingly, the fall began shortly after the meme coin hit its all-time high (ATH) price of $0.1933 on June 9. It remained largely above the $0.15 level until July 4, when it slid all the way to $0.1079.
Its current price is still 40% below its ATH, although it is 13,564% higher than its all-time low price from earlier this year.
Dog with hat (Wireless) and Pepe have also increased by 4% in the last 24 hours. Like the other meme coins mentioned in this article, WIF and PEPE have had a rough 30 days, with WIF’s price dropping by 36.8% and PEPE’s by 30% during that time.
Over the past seven days, WIF has lost 19.2% of its value, while PEPE has fallen 4.5%. Both have underperformed the global cryptocurrency market, which is up 2.6%.
According to CoinGecko, PEPE has also underperformed similar companies Ethereum cryptocurrencies in the ecosystem, which are up 12.70%.