The cryptocurrency market has turned green today, with Bitcoin trading at a multi-month peak and many larger-cap altcoins posting impressive gains. However, none are more impressive than the meme coin realm, as the top leaders have skyrocketed by double digits.
Shiba Inu and Dogecoin Rise
Yesterday, CryptoPotato reported the massive surge in the second-largest meme coin, Shiba Inu. Over the past 24 hours, SHIB has shot up by 22%, reaching $0.000019, the highest price since mid-July. Dogecoin has also risen by double digits in the last 24 hours, soaring by 11% to trade above $0.12. Recall that big whales have accumulated $140 million worth of DOGE in just 48 hours.
Other Meme Coins
The gains in the meme coin market don’t stop with Shiba Inu and Dogecoin. PEPE surged by 14%, WIF increased by 10%, FLOKI rose by 13.5%, and BONK is the top performer among the largest 100 alts, adding 19% in daily value.
Overall Crypto Market Picture
Bitcoin also managed to post some daily gains, although in a much more modest fashion. The largest cryptocurrency neared $66,000 earlier today but currently stands above $65,000 after a 3% increase since yesterday. The total value of liquidated positions is up to $150 million, with BTC and ETH accounting for $41 million and $20 million, respectively.
In conclusion, the cryptocurrency market has once again demonstrated its volatility and capacity for rapid growth. Significant attention is focused on meme coins, which continue to surprise with their performance.
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