Meme Coin Value Soars, Raising $6.7 Billion in a Month With BONK, PEPE, and SHIB Leading the Rally
Explosive Growth in the Meme Coin Sector as Market Cap Hits $23.8 Billion
The meme coin economy is currently worth $23.8 billion , up $6.7 billion from the $17.1 billion number recorded 30 days ago. Nine of the top ten meme tokens have seen double-digit gains over the past week.
The top two leaders, in terms of market valuation, DOGE and SHIB , jumped 19.1% to 21.5% respectively. The third largest, pepe (Pepe), rose 43.5% against the greenback over the past week.
BONK is up 153%, while FLOKI is up 24.2% this week. MEME increased by 34.3%, and BABYDOGE increased by 30.8%. CORGIAI is the only member of the top ten not to have double-digit gains, but is up 4.5% over the past seven days.
The tenth largest meme coin, dubbed “harrypotterobamasonic10inu,” rose 31.9% against the US dollar. Other notable gainers in the world of meme coins are DOG, TOSHI, HUAHUA, and NFD.
In fact, including BONK, a total of 11 meme-based crypto assets recorded triple-digit increases. A total of 53 meme coin assets recorded double-digit gains against the US dollar.
The top meme coin, dogecoin (DOGE) , has a market valuation of $14.12 billion, which is equivalent to 59.32% of the entire meme coin economy. Shiba inu (SHIB) had a market cap of $5.97 billion as of December 9, 2023, accounting for more than 25% of the $23.8 billion meme coin market.
