The cryptocurrency market has shown impressive growth in the last 24 hours, especially in the meme coin sector. Leading tokens are recording significant gains.
Rise of Meme Coins
In the past 24 hours, the market capitalization of meme coins increased by over 11%, now standing above $60 billion. Market leaders Dogecoin (DOGE) and Shiba Inu (SHIB) have shown gains of around 7-8%, while several competitors achieved double-digit increases. Pepe (PEPE) is up 13%, dogwifhat (WIF) has surged 16%, and Bonk (BONK) has pumped nearly 20%.
Success of MOODENG after Upbit Listing
The hippo-themed meme coin Moo Deng (MOODENG) experienced a 43% price surge in the past day. This came after it was listed on the leading South Korean crypto exchange, Upbit, which introduced the trading pairs MOODENG/USDT, MOODENG/KRW, and MOODENG/BTC. Upbit is the largest exchange in the country, and its backing often triggers substantial pumps for involved assets due to increased liquidity.
Outlook for Meme Coin Market
Market participants and analysts have taken note of current trends. Some experts suggest that the recent surge might just be the beginning, predicting further price increases for assets like BONK. Projections indicate potential growth of 100-130%.
In conclusion, the meme coin market is once again showing signs of life, attracting attention from both investors and analysts. The success of MOODENG and other tokens underscores the strength of this segment within the crypto economy.
