The meme coin market is experiencing a significant upward trend, with a total market capitalization approaching $55.7 billion and trading volume of $8.9 billion in the past 24 hours, according to CoinGecko data on Sunday 29th. Among them, MOODENG performed outstandingly, soaring 370% in the past week, while well-known meme coins PEPE, DOGE and SHIB also made significant progress, rising 36%, 17% and 32% respectively. Other meme coins also showed strong weekly performance , of which WIF rose 32% and BONK rose 30%.

One striking example of the profit potential in this volatile sector comes from a wallet address that purchased 30.1 million MOODENG tokens 17 days ago for just 6 SOL (~$815). According to Lookonchain, the value of this investment has soared to a staggering $9.4 million, achieving an 11,534x return.

MOODENG, a meme coin running on the Solana blockchain, briefly reached a market cap of over $330 million before eventually settling around $257 million. At the time of writing, MOODENG was trading at $0.2238.

The recent surge in gains in MOODENG and other meme coins highlights the volatile yet dynamic nature of the cryptocurrency market, where rapid price swings can lead to significant financial gains. As interest in this space grows, investors are reminded to remain alert and understand the risks and volatility inherent in meme coin investing.

〈Data: The market value of meme currency is nearly 55.7 billion U.S. dollars, and MOODENG soared 370% in a week〉 This article was first published in "Blocker".