The meme coins, often known as the wild side of cryptocurrencies, have seen a significant increase following a slight recovery in Bitcoin. Leading the pack is Dogecoin, with some meme coins experiencing double-digit gains. So, what’s the current situation in the meme coin market?
DOGE Analysis
DOGE is undoubtedly the leader in the meme coin space, and its outlook has remained positive over the past 7 days. This has also had a positive impact on other meme coins.
Elon Musk has publicly supported DOGE in the past, and developments related to it may benefit it in the future. DOGE has risen by 5.77% in the past 24 hours, reaching $0.1256. Over the past 7 days, DOGE has increased by 3.10%, indicating a recovery.
DOGE’s market value has exceeded $18 billion. However, the 24-hour trading volume, which was close to $1 billion yesterday, eventually settled at $784 million.
SHIB Token Status
DOGE’s closest competitor, SHIB, is also one of the meme coins that has risen today. SHIB has increased by 3.83% in the past 24 hours, a significant rise compared to yesterday’s uncertainty.
SHIB’s current price is $0.00001766. SHIB has a market value of $10.4 billion, and its trading volume has decreased from yesterday’s $372.6 million to $320 million.
PEPE Coin Recovery
PEPE, which set multiple historical highs last month, has seen the highest increase among meme coins today. PEPE’s price has risen by 13.46% in the past 24 hours, with a trading price of $0.0000127. Its 7-day price trend shows a 15.28% increase.
PEPE’s market value has risen to $5.3 billion, drawing attention with a trading volume exceeding $1 billion. The rise in PEPE indicates investors’ desire to push the price back to its historical highs.
Continued Rise of WIF
Another winner today is WIF on the Solana network, which rose by 19% yesterday and 12% today, once again surpassing $2.
Despite these gains, WIF’s 7-day price trend still shows a 1% decrease. After two days of gains, WIF’s market value has exceeded $2 billion. However, its trading volume has decreased from yesterday’s $700 million to $641 million.