Over the past week, memecoins have outshined Bitcoin, recording over 25% growth as a category.
Here’s a look at the top five memecoins by market cap:
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.
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, 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.
Ranking fourth by market cap, DogeWifHat is a Solana-based memecoin described as “literally just a dog with a hat.”
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.
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
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