Meme coins have been the star of the current bullish cycle in the crypto market. PNUT, PEPE, and other assets have shown significant growth, contributing to the overall increase in the sector's market capitalization.
Meme Coin Market Dynamics
In the past 24 hours, meme coins like Peanut the Squirrel (PNUT), Mog Coin (MOG), Pepe (PEPE), dogwifhat (WIF), and Popcat (POPCAT) have shown significant gains. The total capitalization of the meme coin sector surpassed the $123 billion mark, showing a 6% increase.
Growth of PNUT and Other Meme Coins
PNUT has become one of the best-performing assets in the digital market, rising 138% in a day and ranking 52nd on CoinMarketCap with a capitalization of $2.11 billion. Over the last 30 days, it has grown by 3891.92%. At the same time, other meme coins such as PEPE and MOG have also demonstrated impressive results.
Reasons for Capitalization Growth
Significant contributions to the market capitalization growth have been made by Dogecoin (DOGE), Shiba Inu (SHIB), and the aforementioned meme coins. Data from CoinMarketCap shows that since November 5, the capitalization of meme coins has increased from $55 billion to more than $123 billion.
Meme coins continue to attract investors' attention due to their rapid growth, contributing to the overall capitalization increase in the sector.
