Memecoin Industry Has Exploded, Reaching Marketcap of $23.8 Billion
Memecoins have surged over the past month, adding $6.7 billion, or more than 39%, since November 8.
While Bonk (BONK) led the gains last week with a 153% gain against USD, several other memecoins such as Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe also recorded double-digit gains. Whether these gains are sustainable — one has to decide, but we can’t deny these facts!
The meme economy is currently valued at $23.8 billion, an increase of $6.7 billion from $17.1 billion 30 days ago. Nine of the top ten meme tokens saw double-digit gains last week. DOGE and SHIB, the two leaders in terms of market valuation, rose 19.1% to 21.5% respectively. The third-largest currency, Pepe, rose 43.5% against the US dollar over the past week.
BONK gained 153% last week, while FLOKI gained 24.2% last week. MEME gained 34.3% and BABYDOGE gained 30.8%. CORGIAI is the only member of the top ten without double-digit gains, but is up 4.5% over the past seven days. The crypto renaissance is full fledge underway!
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