Meme coins have taken the digital asset space by storm in the last 24 hours, with significant gains seen in Shiba Inu (SHIB), Popcat (POPCAT), dogwifhat (WIF), and First Neiro on Ethereum (NEIRO). These coins have seen massive surges, outperforming traditional altcoins and reaching a combined market capitalization of $55 billion, marking a 7.9% increase in just one day. The total trading volume in this sector has also reached $10.2 billion, contributing to the overall crypto market valuation of $2.19 trillion.
Among the top meme coins, Dogecoin (DOGE) and Shiba Inu (SHIB) lead the pack with valuations of $16.18 billion and $10.5 billion, respectively. In the past 24 hours, DOGE has surged by 2.55%, while SHIB has seen a 5.45% increase. Over the week, DOGE has risen by 1.40%, and SHIB by 1.5%, with current prices standing at $0.1106 and $0.00001786, respectively.
A notable observation by SHIB KNIGHT on X (formerly Twitter) suggests that Shiba Inu has formed a “W” pattern, indicating a potential rally. The price action of SHIB fluctuated from $0.00002169 to $0.00001548, then rose to $0.00001885, and dropped to $0.00001605. If SHIB manages to break above $0.00002, the completion of the W pattern could signal a further uptrend.
Additionally, other major meme coins like Pepe (PEPE), POPCAT, WIF, and NEIRO have also experienced significant price surges, with gains of 5.5%, 7.9%, and 35.2% in the past 24 hours. NEIRO, in particular, has achieved a market cap of $891 million, with a trading volume exceeding $1 billion. Currently trading at $0.002109 after a 105.2% increase in the last week, NEIRO is making waves in the meme coin market.
POPCAT is trading at $1.42, while WIF and PEPE are priced at $2.71 and $0.059837, respectively. Another standout performer is SPX6900 (SPX), which surged by 60% and is currently trading at $0.8267.
In conclusion, the meme coin market is witnessing a surge in popularity and value, with coins like SHIB and NEIRO leading the way. Investors and traders are advised to exercise caution and conduct thorough research before making any financial decisions related to these volatile assets.