Ranking of meme tokens by capitalization in May 2024

The place of the market leader is held by Dogecoin (DOGE). In May, the capitalization of this coin grew by 22.9% (to $23.59 billion). However, trading activity decreased by 12.5% (to $1.25 billion per day).

Created as a joke in 2013, this cryptocurrency became the progenitor of meme tokens. The DOGE token owes its popularity to Ilon Musk. The entrepreneur repeatedly mentioned the asset on Twitter (now - X), which caused an instant price increase. In 2022, it was even possible to buy a Tesla car for DOGE. Now the coin is used by many charitable organizations to collect donations.

In second place in terms of capitalization is Shiba Inu (SHIB). At the end of May, the total available supply of the asset was estimated at $15.21 billion. Growth for the month amounted to 15.6%. Trading activity increased by 41% (to $948.44 million).

The second most popular meme token was named after the breed of dog in the Dogecoin logo - the Shiba Inu. The developers sent almost half of the assets to Vitalik Buterin's wallet immediately after the coins were released. The remaining 589.26 trillion are in free circulation.

The third place in terms of capitalization among meme tokens is occupied by Pepe (PEPE). In May 2024, the value of all coins in circulation is $6.74 billion. The total trading volume on exchanges reaches $1.74 billion.

PEPE coin also leads the meme segment in terms of open interest in the futures market. In May 2024, the asset's figure is $812 million. This cryptocurrency is also ahead of other coins from the top 100 in terms of growth dynamics. Since the beginning of May, the price of PEPE has already increased by 144% (from $0.00000656 to $0.00001601).

The top 5 meme tokens by capitalization in May 2024 also include:

-- dogwifhat (WIF) - $3.65 billion.

-- FLOKI (FLOKI) - $2.86 bln.

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