- DOGE and SHIB lead the meme coins’ positive start to the week.
- In the last 24 hours, Doge has registered a 2.24% hike in its value.
- The entire meme coin market has added over $759 million in the last 30 days.
Meme coins got to a positive start this week, with major meme coins leading a minor rally. Data from the analytics platform Santiment show that Dogecoin and Shiba Inu have increased their market capitalization.
Meme coins often gather a lot of attention on social media, which in turn leads to increased trading volume. According to Santiment, when this high social activity volume occurs, meme coins see an increase in trade volume and market cap.
In the last 24 hours, the meme coins economy added 0.62% to their market cap to stand at $16 billion. In addition, the trade volume of meme coins also increased by 73.92%, indicating increased trading interest in meme coins.
DOGE continues to maintain top performance, recording a 2.23% increase in its price in the last 24 hours. Despite major meme coins shedding gains, the coin has grown by 6.89% in the past week. It continues to dominate as the top meme coin with a market capitalization of over $10 billion.
SHIB also recorded a staggering 94% increase in trade volume within the last 24 hours. However, the coin has seen its price and market cap decline by 1.79% and 1.83%, respectively, at the time of writing.
However, PEPE, the third-ranked meme coin by market cap, has struggled to maintain a steady positive performance. Even though the token started July with a good performance, it has since shed most of its gains.
In the last 24 hours, the meme coin has recorded an 8% decrease in its token price. Likewise, its market cap also declined by 8%. Despite the negative performance, PEPE recorded an 84% uptick in its trade volume.
In the past 30 days, meme coins have garnered over $759M, with DOGE and SHIB dominating most of the market.
Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
