Memecoins
Top 5 Memecoins Rise by Double Digits, WIF Leads the Rally
Bitcoin’s rapid 7% rise in 24 hours, reclaiming $63,000, is generating excitement after a bearish period. This rise also triggers a double-digit rise in memecoin prices. Investors are excited as cryptocurrencies demonstrate resilience and high return potential.
Memecoins, influenced by Internet jokes and memes, have attracted a sincere following online, fueling their continued expansion. After Bitcoin prices fell in early April, memecoins took a hit.
Dog Hat (WIF) jumped by more than 19%, followed closely by Floki (FLOKI) with an increase of almost 17% in the last 24 hours. Dogecoin (DOGE), known as the Bitcoin of memecoins, has surged over 14%, followed closely by Pepe, which has climbed over 13%, and Bonk has risen over 10% in recent times. 24 hours.
Dog Hat (WIF):
The memecoin Dogwifhat (WIF), depicting a dog wearing a hat, saw a notable rise of almost 20% in the last 24 hours, reaching $3.33. This surge signifies significant movement in the memecoin market. Dogwifhat’s market cap now stands at $3.33 billion, with a 24-hour trading volume of $543 million.
Image source: CoinMarketCap (WIF price rise in 24 hours)
Floki (FLOKI):
Floki, a cryptocurrency inspired by Elon Musk’s dog meme culture, is currently priced at $0.000193. It surged more than 17% in a single day, taking its market capitalization to $1.8 billion, with 24-hour trading volume soaring more than 36% to $287.56 million.
Dogecoin (DOGE):
Over the past 24 hours, Dogecoin (DOGE), a memecoin originally created as a joke and featuring the Shiba Inu dog breed, has surged more than 13%, now at $0.1506. DOGE’s market cap now stands at $21.71 billion, with a 24-hour trading volume of $1.50 billion.
Grandpa:
Pepe, a cartoon frog character memecoin that gained popularity as an Internet meme, is up almost 14% and is currently priced at $0.000008623. Pepe’s market capitalization stands at $3.64 billion and its 24-hour market value stands at $1.27 billion.
Bonk:
Bonk, a humorous cryptocurrency with a simple design that is up more than 10% in the past 24 hours, is currently priced at $0.00002826. Bonk’s market capitalization is $1.84 billion and the 24-hour trading volume is $464.79 million.
As memecoins surge following Bitcoin’s rise, experts question their sustainability. While Dogwifhat (WIF) leads with a 19% spike, followed closely by Floki (FLOKI), Dogecoin (DOGE), Pepe and Bonk, the trend raises concerns about the speculative nature of cryptocurrencies based on the same. Will these gains last?
Read also: Kangamoon Memecoin Rises as Crypto Falls After CZ Conviction