The resurgence of the meme coin frenzy: D
April 20th marked the celebration of Doge Day, and just 24 hours later, Dogecoin, the beloved dog-themed meme coin, experienced a significant increase in value as the crypto market found its footing once again.
According to CoinMarketCap, a website that aggregates crypto data, Dogecoin (DOGE) saw a 6.22% increase in the past 24 hours, with over $1.5 billion worth of DOGE being traded during that time.
Currently priced at $0.1615 per token, Dogecoin has improved by 6.2% compared to its value seven days ago and has experienced a 3.6% upswing in the past month. However, it is still nearly 19% lower than its value from the previous 14 days.
Shiba Inu, ranked 11th in market capitalization and the second-largest meme coin in the world, also had a successful 24 hours. Its price increased by over 16% during that time.
This upward trend for Shiba Inu began over a week ago after a period of correction. The price increase was accompanied by a 24-hour trading volume of $1.4 billion, making DOGE the eighth most traded cryptocurrency in the market.
Among the top five biggest meme coins by market cap, Floki (FLOKI) experienced the highest price increase in the past 24 hours. Trading at $0.0001705, FLOKI saw an increase of over 20%, although its trading volume was much lower than DOGE and SHIB, at $360 million.
Currently, FLOKI’s price is over 16% higher than it was a week ago and an impressive 454% higher than it was a year ago. However, it has experienced declines of nearly 17% over the past seven days and over 23% over the past 30 days.
In terms of price performance over the past 24 hours, ERC20 emerged as the top meme coin, with its value increasing by an incredible 1,231% during that time. Solama, Popcat, and Bonk (BONK) also had notable performances, with their prices increasing by 96%, 48%, and 41%, respectively.
In other news, Dogwifhat and Popcat have seen gains from exchange listings, and there is speculation that BOCA might be the next meme coin to experience growth.
