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🐸🐶🐕Meme Coin Craze Shiba Inu, Dogecoin, Dogwifhat and PEPE Support Billion Dollar Bull Wave
Memecoins led by #ShibaInu and #Dogecoin , the two largest memecoins by market capitalization, have emerged as unexpected leaders, enjoying an unprecedented increase in returns amid the recent rise of the crypto market.
The data released by CoinGecko on Wednesday showcased the average return of memecoins of a staggering 1,312% in the first quarter of 2024, a feat that has surpassed the gains achieved by traditional crypto assets such as Bitcoin, Ethereum and Solana.
According to a blog of the firm, the surge of memecoins is the 1st of 2024. It underlined their dominance as the most profitable crypto narrative in the quarter. The firm stated that meme coins are the most profitable crypto expression, noting that they provide an average return of 1,312.6% among the top tokens in this category Dec
In particular, the rise of meme coins was supported by the introduction of new tokens, including the MEME BOOK, which contributed to the solid performance of the narrative. In particular Oct, the viral sensation surrounding the Solana-based meme coin dogwifhat (WIF) has fueled the ongoing enthusiasm surrounding meme coins, increasing its gain of 2,721.2% year to date.
The extraordinary profitability of meme coins has highlighted their dominance in the Sunday by providing a striking contrast with other crypto narratives. The firm also said that meme coins are 33.3 times more profitable than the Layer 2 narrative, and this year's 1. He stressed that the lowest return was achieved in the quarter.
