According to CryptoPotato, the Meme coin market turned green on May 3, with its market capitalization exceeding $50 billion. The price of Dogecoin (DOGE) and Shiba Inu (SHIB) increased on a daily scale, but other assets such as WIF and POPCAT saw more significant increases. The cryptocurrency market is back in the green territory after registering massive losses over the past few days.
Bitcoin (BTC) briefly surged to $60,000, while Ethereum (ETH) regained the 3K level. The meme coin space has witnessed an even more significant recovery, with many of these assets outperforming the leaders mentioned above. Some notable examples include frog-themed Pepe (PEPE) and Solana-based dogwifhat (WIF) and Bonk Inu (BONK), all of which are seeing double-digit growth on a day-to-day basis.
Another meme coin that has performed even better is Popcat (POPCAT). The cat-themed token is up 25% in the past 24 hours, briefly surging to an all-time high of over $0.60 (according to data from Coingecko). Currently, it is trading around $0.56. The entire market capitalization of meme coins has jumped to over $50 billion. The largest meme coins in terms of market capitalization - Dogecoin (DOGE) and Shiba Inu (SHIB) - are also in the green territory, albeit in a more humble way. The former is up 7% on a daily scale, while its competitor is up slightly more.