Over the past week, memecoins have outshined Bitcoin, recording over 25% growth as a category.
Memecoins have outperformed $BTC in the past 7 days, gaining over 25% growth as a category.
Let’s dig into the top 5 memes by market cap. 👇 pic.twitter.com/bxstXHZ483
— Cointelegraph (@Cointelegraph) May 27, 2024
Here’s a look at the top five memecoins by market cap:
- Dogecoin ($DOGE) – Market Cap: $24.8 billion
Created in 2013, Dogecoin remains the largest memecoin. Inspired by the Shiba Inu Kabosu, who recently passed away, DOGE faces significant resistance between $0.166 and $0.171, where 75,500 addresses hold nearly 10 billion DOGE. Overcoming this barrier could see DOGE doubling, with the next resistance at $0.322.
#Dogecoin is encountering significant resistance between $0.166 and $0.171, where 75,500 addresses have acquired nearly 10 billion $DOGE. However, once this barrier is overcome, #DOGE has the potential to double, with the next key resistance around $0.322 pic.twitter.com/p02Cks63EI
— Ali (@ali_charts) May 28, 2024
- Shiba Inu ($SHIB) – Market Cap: $15.2 billion
Shiba Inu, the second-largest memecoin, initially gained attention by giving 50% of its allocation to Vitalik Buterin. The ecosystem has expanded with the recent launch of Shibarium, a Layer 2 chain.
- PepeCoin ($PEPE) – Market Cap: $6.9 billion
PepeCoin, the third-largest memecoin, has surged 75% in the past week. Launched as a tribute to the Pepe the Frog meme, PEPE reached a record high on May 27.
- DogeWifHat ($WIF) – Market Cap: $3.2 billion
Ranking fourth by market cap, DogeWifHat is a Solana-based memecoin described as “literally just a dog with a hat.”
- Floki Inu ($FLOKI) – Market Cap: $2.7 billion
Floki Inu, closely trailing DogeWifHat, has gained over 40% in the past week. Launched by SHIB community members and named after Elon Musk’s Shiba Inu, FLOKI recently flipped OP and BONK to become a top 45 project. Rumors of a Coinbase listing are fueling its rise.
BREAKING: $FLOKI is up 18% in the last 24 hours and just flipped $OP and $BONK to be a top 45 project. It has outperformed $PEPE, $WIF, $DOGE, and $SHIB as the top major #memecoin this week. #Coinbase will list #FLOKI perps on May 30, which is fueling rumors of a Coinbase spot… pic.twitter.com/zdzgYlDkwM
— BITCOINLFG® (@bitcoinlfgo) May 28, 2024
Floki Inu’s impressive performance has led several analysts to predict it could be the main memecoin of this bull run. With Coinbase set to list FLOKI perpetuals on May 30, speculation about a potential spot listing is growing.
Memecoins continue to captivate the market, with each token bringing its unique charm and community-driven growth. As these tokens gain traction, their influence on the broader crypto landscape becomes increasingly evident.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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Image Source: archnoi1/123RF // Image Effects by Colorcinch
