Meme Coin Market Cap Hits $58 Billion

The market capitalization of meme coins increased by 8% and reached $58 billion.

According to CoinGecko, meme coins are popular among investors and traders. The meme coin segment has outpaced the overall crypto asset market in terms of growth over the past 24 hours. The total market capitalization of the crypto industry increased by 5.5%, while Bitcoin (BTC) recorded an increase of 6%.

The five largest coins by capitalization represent 77% of the total value of this asset class. At the same time, only three dozen coins by market capitalization exceed the $100 million mark.

Source: CoinGecko

The undisputed leader of this indicator is Dogecoin (DOGE), whose market capitalization amounts to $22.4 billion. Over the past 24 hours, the asset’s trading volume amounted to $1.5 billion.

Shiba InuSHIB) is second in terms of market capitalization with an indicator of $14.9 billion. The trading volume of this meme coin in 24 hours exceeded $938 million.

Grandpa (PEPE) was in third place with a market capitalization of $4.4 billion at the time of publication. The turnover of this asset amounted to $1.5 billion over the last day. On May 15, the PEPE token reached its all-time high at $0.00001161.

Recently, an unknown trader won over $46 million after the coin surpassed its previous all-time high. The trader spent $3,000 to acquire 4.9 trillion PEPE; shortly after, the trader sold 1.41 trillion tokens for $7.4 million.

The Dogwifhat (Wireless) same coin, with a market capitalization of $2.9 billion, occupies fourth place. FLOKI assets, with $2.06 billion, complete the top five in this indicator.

The BONK token, whose growing popularity is cited as one of the main reasons for the emergence of thousands of different tokens. coins on the Solana network, ranks sixth on the CoinGecko dashboard.

Fuente