According to statistics on October 26, 2023, the meme coin crypto economy has risen nearly 10% against the U.S. dollar in the past 24 hours. The top five meme tokens, including dogecoin, shiba inu, pepe, floki, and baby doge coin, have risen between 7% and more than 28% in the last day.
Meme Coins Enjoy a 10% Uplift in Market Value
Meme coin values surged against the dollar on Thursday as the market valuation of the entire meme market reached $16.8 billion, up 9.9% over the past 24 hours. The leading meme coin in terms of market capitalization, dogecoin (DOGE), has risen 11% over the past day. Right below DOGE is shiba inu (SHIB), which gained 7.8% in the 24-hour span. DOGE has recorded $1.48 billion in global trade volume over 24 hours, and SHIB has seen about $428 million in trade volume.
Pepe (PEPE) climbed 8.9% against the dollar, and floki (FLOKI) saw a 28.6% rise during the past 24 hours. The fifth-largest meme coin by market cap, baby doge coin (BABYDOGE), has increased by 7% in the last day. The sixth-largest meme token, literally dubbed “harrypotterobamasonic10inu,” saw a 2.2% decline on Thursday, and dogelon mars (ELON) saw a slight 1.7% increase. The token wall street memes (WSM), on the other hand, saw an 18.2% decline against the dollar.
While the meme coin economy is seeing $2.66 billion in global trade volume over 24 hours, most of the trade volume stems from DOGE and SHIB. In fact, approximately 71.42% of the day’s global trade volume derives from the two leading meme token assets. While the top five saw respectable 24-hour gains, the biggest leaders in the meme coin world in terms of today’s percentage increases include pepesol, strawberry elephant, and wassie. All three of those meme tokens saw gains between 70% and 290% over the past day.
What do you think about the meme coin market action on Thursday? Share your thoughts and opinions about this subject in the comments section below.
