In short
- Meme cash like DOGE and PENGU are ripping larger as Bitcoin pushes to new highs.
- PENGU is the largest every day gainer among the many high 100 cryptocurrencies by market cap.
- Different Solana tokens like BONK, WIF, and FARTCOIN are surging as properly.
Meme cash are charging larger as Bitcoin topped $113,000 for the primary time Thursday, led by class chief Dogecoin (DOGE) and PENGU, the Solana-based token from the Pudgy Penguins ecosystem—which have climbed 7% and 29% respectively within the final 24 hours.
The surge in PENGU to a value of $0.019 makes it the most important mover among the many high 100 cryptocurrencies ranked by market cap, trailed carefully by Solana meme coin Dogwifhat (WIF), which has jumped virtually 14% within the final 24 hours to $1.01. Dogecoin itself, in the meantime, has climbed to a present value of $0.186.
The trio, which all sit inside the highest 100 crypto tokens, have mixed for greater than $4.5 billion in buying and selling quantity within the final 24 hours based on knowledge from CoinGecko.
Decrease quantity is flowing to different notable meme cash, like Solana tokens Bonk (BONK) and Fartcoin (FARTCOIN), however their efficiency has helped pull up the meme class as an entire, which has gained 10% within the final 24 hours. Broadly, the class is outperforming the person efficiency of main cash Bitcoin and Ethereum.
BONK is up almost 13% to $0.0000228 in that timeframe, whereas FARTCOIN has jumped 12.5% to $1.21—and now BONK has gained round 39% on the week, constructing on momentum from its LetsBonk launchpad that not too long ago flipped class chief Pump.enjoyable by way of every day tokens launched.
Moo Deng (MOODENG) has jumped 13% within the final 24 hours to $0.209 because the namesake pygmy hippo celebrates its first birthday at the moment. Final week, the token skyrocketed almost 30% in a 24 hour span because the Khao Kheow Open Zoo shared plans for the birthday celebration.
Plus, different 2024 meme coin cycle darlings like NEIRO and FWOG are proper there as properly, leaping 12% and 18% respectively.
Plus, Solana tokens that beforehand held notable mindshare within the trenches like Peanut the Squirrel (PNUT) and Popcat (POPCAT) are up 22% and 16% respectively, as properly.
Additional behind, SPX6900—the Ethereum-based meme coin created with aspirations of flipping the S&P 500 market cap (however remains to be nowhere shut)—has jumped about 5% within the final 24 hours to $1.54. The token now sits round 11% off its all-time excessive of $1.73 from early June, however technical indicators level to a bullish outlook with potential whale accumulation serving to push issues larger over the past two weeks.
Meme cash, or tokens which might be sometimes based mostly on present occasions, popular culture, or web tendencies, are inherently extra unstable and dangerous than different crypto tokens. Whereas customers can generally create main income from small invested sums, most meme tokens launched development in the direction of zero over time. Few have any actual endurance.
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