Meme coins rallied massively in the past 24 hours, led by PEPE’s 26% rally.
FLOKI and WIF rose 20.43% and 20.93%, respectively.
Altcoin Sherpa predicted a meme coin super cycle coming soon.
Meme coins in the crypto market rallied significantly in the past 24 hours, led by Pepe (PEPE), Dogwifhat (WIF), and Floki Inu (FLOKI). The total market capitalization of these tokens also increased significantly amid a broader digital asset market surge, with Bitcoin (BTC) trading above the $63,000 price level.
As per data from CoinMarketCap, meme coin trading volume jumped more than 72% and currently stands at $6.49 billion. The top three meme tokens by valuation, including Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE), rose 3.59%, 4.86%, and 26%, respectively. DOGE is trading at $0.1223, SHIB is trading at $0.00001895, and PEPE’s price stands at $0.00001175.
Additionally, in the past seven days, DOGE, SHIB, and PEPE rose 12.92%, 14.70%, and 25.52%. Other meme tokens including Dogwifhat (WIF), Bonk (BONK), FLOKI (FLOKI), and Brett (BRETT) also displayed strong gains.
WIF rose 20.93% and is trading at $2.15; BONK surged 8.40% and is priced at $0.00002642; FLOKI is up 20.43% and is trading at $0.0001846; and BRETT is up 12.45% and is priced at $0.1387.
Moreover, in the last seven days, these coins rose 25%, 0.67%, 25.85%, and 12.72%, respectively. It is also important to note that the meme coin market cap rose 10.69% in the last 24 hours and currently stands at $50.4 billion.
Bottom line is that you should have some exposure to memes. I don't know what you want to choose, you can look at Murad for some of his picks and logic. And don't just brush picks off either; memes actually do have fundamentals, just the same as normal tech coins. Buy some or be…
— Altcoin Sherpa (@AltcoinSherpa) July 15, 2024
According to a post on social media platform X by “Altcoin Sherpa,” the meme coin supercycle is approaching, but not in the way crypto investors may expect. The analyst believes that, much like the numerous technical tokens on the market, meme coins are also proliferating. As a result, “attention is spread out everywhere and liquidity is not as concentrated as it used to be” in the 2021 crypto bull market.
Instead of seeing massive gains like in the case of WIF and SHIB, investors will witness moderate gains spread across multiple meme coins. The PEPE type meme coin rallies will be rare, said the analyst.
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